Escrows and CGT late payments
The International Consortium of Investigative Journalists (ICIJ) has obtained a new cache of leaked files from offshore law firms and other sources containing information on the offshore activities and structures of prominent individuals and companies from all over the world.
HMRC has published a second tranche of the draft guidance on changes to the treatment of carried-forward corporation tax losses from 1 April 2017. This part of the guidance covers group relief and the relaxation of carried-forward non-trade losses.
From 1 November 2017, employers in the social care sector can apply to join HMRC’s new social care compliance scheme.
The government is to delay introduction of the NICs Bill announced in this year’s Queen's speech until 2018, to allow more time to consult on the legislation abolishing Class 2 NICs, which will now take effect from April 2019.
The Scottish government has set out four alternative proposals for new Scottish income tax rates and bands in a discussion document to inform how the government should use its new income tax powers in the forthcoming Scottish Budget on 14 December.
HMRC is consulting until 15 December 2017 on draft amending regulations setting out how to calculate the ‘ringfenced transfer funds’ (and associated ringfenced taxable asset transfer funds), arising from transfers of UK pension savings to foreign pension schemes on or after 9 March 2017 and subje
The government will publish Finance Bill 2018 on Friday 1 December, following the Budget on 22 November. Parliamentary procedure dictates that the Bill will be called Finance (No. 2) Bill of the current session.
HMRC is to increase its interest rates for late payment with effect from 13 November 2017 for quarterly instalment payments and 21 November for non-quarterly instalment payments. This follows the announcement of a rise in the Bank of England base rate to 0.5%.