Amid speculation that the chancellor is about to introduce a new sales tax on multinational companies in the forthcoming Budget, the CIOT is firmly of the view that the risks of pursuing unilateral measures ahead of an international solution outweigh the potential benefits and ‘could be counter-p
The FATF has adopted changes to the its recommendations and glossary to clarify how the recommendations apply in the case of financial activities involving virtual assets.
The CIOT, STEP, ICAEW and the Law Society have updated their questions and answers in relation to mixed fund cleansing, following comments received from HMRC on the original version.
HMRC is investigating the tax payments of 171 football players, 44 clubs and 31 agents. The numbers are a significant increase on the 90 players, 38 clubs, and 13 agents that HMRC was investigating in September 2017.
HMRC is consulting until 5 November on a technical note and two draft statutory instruments setting out UK government policy on exceptions to the general rule that Welsh rates of income tax will always apply to the non-savings income of Welsh taxpayers.
HMRC is to review around 30,000 self-assessment tax computations from 2016/17 returns filed online, where it believes there is a risk its tax calculator might have computed liabilities incorrectly. Beginning on 19 November, incorrect calculations will be reworked and reissued.
The chair of the Lords Economic Affairs Finance Bill sub-committee, Lord Forsyth of Drumlean, has written to the financial secretary to the Treasury, Mel Stride, expressing ‘disappointment’ at the minister’s refusal to appear before the committee to face questioning on the powers of HMRC.
HMRC has published the following:
The OTS’s recommendations on HMRC guidance provides some hope that in the future reliance on guidance will be less risky, writes Stephen Daly (King’s College London).
Transfer to personal pension policy and IHT