Following consultation, the government has decided not to proceed with its recent proposals for extending VAT exemption to commercial providers of higher education. Nevertheless, HMRC will work with BIS on the issues raised, and may consult again later this year on the case for change
FB 2013: SDLT on leases
The government tabled amendments to the provisions for SDLT on lease transactions, intended to ensure that no return is required in appropriate circumstances where a lease continues after the expiry of its fixed term. The changes abolish the rules on abnormal rent increases. They also simplify the reporting requirements where a lease continues after the expiry of its fixed term and where an agreement for leases is substantially performed before the actual lease is granted.
UK offshore finance centres committed to tackling evasion
Following the meeting on 15 June between prime minister David Cameron and the leaders of Britain’s crown dependencies and overseas territories, it has been reported that all Britain’s offshore centres have signed the multilateral convention on mutual tax assistance, thus underlining their commitment to tackle tax evasion ahead of the G8 summit on 17–18 June.
UK/Netherlands tax convention signed
A Double Taxation Convention (Bank Taxes) between the UK and the Netherlands has been signed by David Gauke MP, exchequer secretary to the Treasury and Frans Weekers, state secretary of finance of the Netherlands. The text of the Convention is available on HMRC’s website, and will be published as soon as it is presented to parliament for approval. The convention enters into force once both countries have completed their legislative procedures.
People and firms
Rupert Shiers will join law firm Hogan Lovells on 24 June, to lead the firm’s direct tax disputes practice. Rupert will be joining from Herbert Smith Freehills. Field Fisher Waterhouse has appointed George Gillham as a tax partner in its tax disputes team. He joins from Pinsent Masons, and he was recently selected as one of Tax Journal’s ‘40 under 40’ leading tax professionals for 2012/13.
Following consultation, the government has decided not to proceed with its recent proposals for extending VAT exemption to commercial providers of higher education. Nevertheless, HMRC will work with BIS on the issues raised, and may consult again later this year on the case for change
FB 2013: SDLT on leases
The government tabled amendments to the provisions for SDLT on lease transactions, intended to ensure that no return is required in appropriate circumstances where a lease continues after the expiry of its fixed term. The changes abolish the rules on abnormal rent increases. They also simplify the reporting requirements where a lease continues after the expiry of its fixed term and where an agreement for leases is substantially performed before the actual lease is granted.
UK offshore finance centres committed to tackling evasion
Following the meeting on 15 June between prime minister David Cameron and the leaders of Britain’s crown dependencies and overseas territories, it has been reported that all Britain’s offshore centres have signed the multilateral convention on mutual tax assistance, thus underlining their commitment to tackle tax evasion ahead of the G8 summit on 17–18 June.
UK/Netherlands tax convention signed
A Double Taxation Convention (Bank Taxes) between the UK and the Netherlands has been signed by David Gauke MP, exchequer secretary to the Treasury and Frans Weekers, state secretary of finance of the Netherlands. The text of the Convention is available on HMRC’s website, and will be published as soon as it is presented to parliament for approval. The convention enters into force once both countries have completed their legislative procedures.
People and firms
Rupert Shiers will join law firm Hogan Lovells on 24 June, to lead the firm’s direct tax disputes practice. Rupert will be joining from Herbert Smith Freehills. Field Fisher Waterhouse has appointed George Gillham as a tax partner in its tax disputes team. He joins from Pinsent Masons, and he was recently selected as one of Tax Journal’s ‘40 under 40’ leading tax professionals for 2012/13.
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