Vaines v HMRC shows that partners are not treated as separate traders each with their own trade but rather they collectively carry on the trade of the partnership and are taxed on their share of the profits. Usher & Perkins v HMRC serves as a cautionary reminder to executors – including lay executors – of the need to publish notice in the London Gazette of their intention to distribute the estate in accordance with Trustee Act 1925 s 27 and to wait for formal HMRC clearance before distributing the estate. On 2 February draft legislation was published for inclusion in Finance Bill 2016 deeming long-term UK resident non-doms to be UK-domiciled for income tax and capital gains tax purposes. Plans to tighten the rules on the disclosure of tax avoidance schemes hallmark relating to inheritance tax will not be included in the new regulations set to come into...