HMRC is consulting on whether its civil information powers, contained in FA 2008 Sch 36, are still relevant and effective, and suggests several possible targeted improvements. No review of these powers has been carried out since 2007/08.
The European Commission has notified its decision to approve the latest enterprise investment scheme (EIS) and venture capital trust (VCT) scheme amendments, aimed at encouraging long term investment in higher risk and knowledge intensive companies.
The chancellor, Philip Hammond, made it clear that digital taxation comes before business rates in the government’s order of priorities, in his recent response to the chair of the Treasury committee.
HMRC has published its considered response to concerns raised at the IR35 forum that the ‘check employment status for tax’ (CEST) online tool does not include mutuality of obligation among the factors to consider.
The UK government has introduced eight major new taxes since 2008, accounting for nearly £28bn in revenue, HMRC’s statistics for the year ended 31 May 2018 reveal.
HMRC has launched 839 investigations into UK taxpayers holding their assets offshore in just a year, according to figures seen by Pinsent Masons.
HMRC has published the following:
Recovery of input tax on taxable supplies wrongly treated as exempt
SPAs and ‘tax payable’