European Commission president, Jean-Claude Juncker, gave new impetus to his call for a move towards allowing qualified majority voting on certain tax matters in his annual ‘state of the union’ address to the EU Parliament on 12 September.
HMRC has updated its short guide, ‘Restriction on corporation tax relief for interest deductions’, with more information for companies and groups which deduct more than £2m a year in interest and other financing costs, on calculating their ‘interest allowance’ to determine whether the restriction
The number of businesses that say they are ‘very confident’ of meeting the making tax digital (MTD) deadline has only marginally increased (from 4% to 6%) in the last three months, according to a survey carried out by EY.
Help-to-save accounts became available to all eligible individuals from 12 September 2018. This follows a trial which opened in January to a controlled group of savers.
The House of Lords Economic affairs Finance Bill sub-committee invites written contributions by 1 October 2018 for its inquiry on the draft Finance Bill 2019, including HMRC’s progress on making tax digital (MTD).
The CIOT and ATT have updated their notes giving practical guidance for advising clients on the ‘requirement to correct’ offshore tax non-compliance by 30 September.
The chancellor was unable to confirm the date of the Autumn Budget when he appeared before the Select Committee on Economic Affairs on 11 September (see bit.ly/2NkAHtY).
The amount of tax collected from civil investigations carried out by HMRC’s Fraud Investigation Service increased by 13% in the year to March 2018 (to £2.66bn), according to figures obtained by Pinsent Masons.
HMRC has published the following:
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