Ignorance of a legislative change may be a reasonable excuse
David Harkness and Rob Sharpe (Clifford Chance) examine a tribunal decision that provides a warning to taxpayers on relying on informal assurances or exchanges of correspondence.
Jackie Wheaton (Moore Stephens) examines the widely-used phrase in UK tax law, particularly in relation to anti-avoidance sections.
HMRC’s making tax digital pilot is now open to landlords receiving income from UK property (excluding furnished holiday lettings), in addition to self-employed sole traders.
The Welsh Revenue Authority (WRA) has released further additions to its technical guidance on land transaction tax (LTT). The latest chapters added are:
The final text of amendments to the administrative cooperation directive introducing new disclosure and reporting rules for cross-border tax planning schemes has been published in the EU official journal (see https://bit.ly/2xL7EZ9).
New research based on statistics released by the OECD and IMF suggests that some $12 trillion, representing almost 40% of all global foreign direct investment, consists of financial investment passing through empty corporate shells with no real economic activity.
Serbia deposited its instrument of ratification for the Multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (multilateral convention or MLI) with the OECD on 5 June.
HMRC’s 31 May deadline for registering an interest in its disguised remuneration settlement opportunity has now passed, but guidance now tells taxpayers wishing to settle on favourable terms to register with HMRC ‘as soon as possible’.
HMRC has published the following: