HMRC’s voluntary returns policy
HMRC has provided a statement of its position on voluntary ITSA returns as a result of the First-tier Tribunal case of R...
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Distributions in a winding-up – FB16 cl l35: Update
Clause 35 of Finance Bill 2016 introduces a targeted anti-avoidance rule (TAAR) for specified distributions made on a wi...
Removing the tax barriers to de-enveloping residential property
With the support of the ICAEW, the Stamp Taxes Practitioners Group, STEP, and the Law Society, the CIOT has made a detai...
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Entrepreneurs’ relief – FB 2016 clauses amendments (23 June 2016)
As reported in the July edition of Technical Newsdesk, the entrepreneurs’ relief (ER) stakeholder group raised the need ...
Reduction in the rate of capital gains tax
Clause 72 and accompanying Schs 11 and 12 deal with the legislation to enact a reduction in the rate of CGT from 6 April...
Distributions in a winding up – FB 2016, cl 35
We have written to HMRC to express concerns that Finance Bill 2016, cl 35 will lead to unintended consequences, and crea...
Client notification obligations on persons who give offshore advice or services
We were advised by HMRC in late May that, due to delays in publishing guidance on GOV.UK to help those affected by the m...
Finance Bill 2016 cl 73–75 – entrepreneurs’ relief
As readers will be aware, FB 2016 includes draft legislation to amend the unintended consequences of the Finance Act 201...
Finance Bill 2016 cl 26 – relief for finance costs related to residential property businesses
Clause 26 rectifies drafting errors in the legislation introduced by Finance (No 2) Act 2015 s 24.
Corporate Contributions to Grassroots Sports: where is the goal?
The Treasury’s consultation document, Corporate Contributions to Grassroots Sports, is refreshingly brief and simple wit...