Application for interim relief against a PPN
Reliance on accountant and reasonable excuse
ICAEW has warned the chancellor and business secretary that the government plans to tackle red tape and reduce costs to business by £10bn will fail unless they take steps to tackle the complexity and length of the tax code.
HMRC invites comments by 31 July 2015 on draft guidance setting out how it will determine the status of a ‘Scottish taxpayer’ for the purposes of the Scottish rate of income tax taking effect from April 2016, particularly in relation to individuals who have more than one place of residence.
HMRC has issued a final reminder about the settlement opportunity for individuals who engaged in contractor loan schemes in tax years up to 5 April 2011. The chance to sign up for the settlement opportunity will close on 30 June 2015, with no further deadline extensions.
The Vatican is the latest jurisdiction to sign the FATCA intergovernmental agreement with the US.
The launch of the Fair Tax Pledge took place this week, aimed at UK individuals and sole traders wishing to pledge to their commitment to tax transparency and a ‘fair and effective tax system’.
The FT reported (17 June) that a number of major US companies have warned investors of the potential financial impact of UK’s new diverted profits tax (DPT) which came into force in April.