Experts at Tolley examine highlights of the draft 2016 Finance Bill.
Sideways loss relief and rental income
HMRC is consulting until 30 October 2015 on draft amendments to the four sets of regulations which set out the tax rules on accounting for profits and losses on loan relationships and derivative contracts, to reflect legislation in Finance (No. 2) Bill 2015 (cls 31, 33 and Sch 7).
The government is consulting until 16 November 2015 on draft regulations to support legislation in Finance Act 2015 introducing the requirement for multinational enterprises to submit country-by-country reports to HMRC from 1 January 2016 containing details of their economic activities in other t
The Finance Act 2015, Section 29 (Film Tax Relief) (Specified Day) Regulations, SI 2015/1741, specify 1 April 2015 as the effective date for the extension of the 25% rate of film tax relief to all qualifying core expenditure on films still in production at that date.
Car manufacturer Volkswagen’s manipulation of diesel emissions tests in the US and Europe could potentially impact UK cars and have a knock-on effect on the taxation of company car benefits, accountants have warned.
HMRC has released an issue briefing setting out its plans for recovery of tax debts over £1,000 directly from taxpayers' bank, building society or ISA accounts, the legislation for which is now included in Summer Finance Bill 2015 (Clause 47).
HMRC has issued a factsheet CC/FS24 which outlines their power to issue notices for ‘accelerated payment’ of disputed tax liabilities in connection with tax avoidance schemes registered under DOTAS.
Steven Bone (The Capital Allowances Partnership Ltd) answers a reader query.
Tax Journal's coverage of the Summer Finance Bill.