HMRC has published the following:
Were acquisition expenses deductible?
Enquiries and returns submitted voluntarily
Murray Clayson (Freshfields Bruckhaus Deringer) considers recent OECD and EC activity surrounding the taxation of the digital economy.
Current taxpayer safeguards for HMRC’s notice powers are neither independent nor accessible, writes Tracey Bowler (Institute for Fiscal Studies).
The OECD has published its ‘interim’ report on challenges the digital economy poses for the international tax system. The report highlights clearly the differences that still exist between countries over the action needed.
Following consultation on updating its business risk review (BRR) process for large businesses, HMRC has accepted the need to expand the current risk categories from just two (low risk/non-low risk), into a range which distinguishes more clearly between low and high risk.
HMRC has issued a guide for self-employed taxpayers intending to take part in the making tax digital pilot. Sole traders with a current accounting period ending after 5 April 2018 can use software to keep digital business records and send income tax updates to HMRC.
The government is consulting until 11 June on further improvements to the corporate governance framework to reduce the risk of major company failures occurring through shortcomings of governance or stewardship, and to strengthen the responsibilities of directors of firms when they are in or appro