The chair of the House of Lords Economic Affairs Finance Bill Sub-Committee has written to the chancellor recommending the ‘unnecessary and undesirable’ provisions extending the time limits for HMRC to issue assessments relating to offshore tax matters be removed from the current Finance Bill.
The government is consulting on the detailed design and implementation of the digital services tax (DST) announced at Budget 2018 for introduction in April 2020.
Finance Bill 2019 contains legislation extending the taxation of gains made by non-residents on UK immovable property to include commercial property and indirect disposals by ‘property rich’ entities, with effect from April 2019. The existing ATED-related CGT provisions will be abolished.
HMRC is consulting on a review of the government’s principles for taxing trusts, seeking views on the extent to which the current system meets those principles and possible areas for reform.
HMRC is consulting on two sets of draft regulations setting out the process and information requirements for claiming repayment of the overseas transfer charge on pensions.
Finance Bill 2019 was published on 7 November and passed its second reading in the House of Commons on Monday 12 November. A Committee of the whole House will debate the following clauses over two days, not yet formally scheduled, but likely to be on Monday 19 and Tuesday 20 November.
HMRC has begun sending out what it calls ‘encouragement letters’ to businesses within the scope of MTD for VAT. The letters are being sent to businesses which are currently eligible to join the pilot, but are not being copied to agents.
The GAAR advisory panel has issued two new opinions, each involving a form of contractor loan scheme and transfer of creditor rights to an employer financed retirement benefit scheme (EFRBS).
As announced at Budget 2018, HMRC has issued a call for evidence on the different processes that exist across the various taxes for making amendments to tax returns, with a view to introducing a more consistent digital experience for taxpayers.
HMRC has published the following: