Clauses 11 (annual investment allowance), 12 (short life assets), 13 (rates of alcoholic liquor duties) and 14 (general beer duty, reduced rate for lower strength beer) of the Finance Bill were passed without amendment by the Public Bill Committee on 12 May.
Chris Sanger identifies seven common trends in tax policy across Europe, the Middle East, India and Africa
Richard Clarke and Jessica McLellan provide this month’s update on recent HMRC activity
Since the 1990s the prevailing mantra has been ‘tax follows the accounts’. There is an inherent contradiction in this formula.
The Public Bill Committee on the Finance Bill began its consideration of the Bill yesterday.
HMRC are seeking views on possible changes to rules that determine how non-arm's length sales of gas are valued for the purposes of the North Sea fiscal regime.
Responses to consultation sent a ‘strong message’ that applying the proposed tax exemption for overseas branch profits to all territories, and the inclusion of chargeable gains, would enhance the competitiveness of the UK regime, HM Treasury said.