The European Council has adopted a decision authorising the UK to continue applying a VAT measure derogating from Directive 2006/112.
Comments are invited by 22 February 2011 on draft HMRC guidance on proposed changes to the rules governing taxation of companies’ capital gains.
Liberal Democrat MP Adrian Sanders asked the Chancellor if he would make it his policy to refer all tax disputes concerning liabilities greater than £500 million for parliamentary scrutiny prior to action by HMRC.
HMRC has updated its guidance to extra statutory concessions.
‘If some tax avoidance is a fact of global competition, the challenge for firms is to protect their reputation … The awkward truth is some companies do have something to hide.
HMRC is not appealing against the first-tier tribunal decision in John Price v HMRC TC 873, reported last month.
The Finance (No. 3) Act 2010, Schedule 11 (Appointed Day) Order, SI 2011/132, appoints 25 January 2011 as the day for the coming into force of:
The National Insurance Contributions Bill completed its House of Commons stages and was read a first time in the House of Lords on 13 January. The second reading in the House of Lords is scheduled for Monday, 24 January.
The value of the retail prices index for December 2010 is 228.4.
‘Taking advantage of complex tax laws in order to reduce the individual burden is perfectly legal and has been standard practice among the super-rich for years.