SI 2013/1111, SI 2013/1114 and SI 2013/1117
“More than 100 of Britain's richest people have been caught hiding billions of pounds in secretive offshore havens, sparking an unprecedented global tax evasion investigation.
Ashley Greenbank and Nigel Doran consider the lessons for the tax litigation process that can be learned from the decided cases.
HMRC published draft regulations last week to provide a further exception to the income distribution requirement for investment trust companies at regulations 19 and 21 of the Investment Trust (Approved Company) (Tax) Regulations (SI 2011/2999).
HMRC has published draft regulations to address technical issues in the operation of The Offshore Funds (Tax) Regulations 2009. “As industry is keen to have the proposed changes introduced as soon as possible, this consultation is for four weeks,” HMRC said.
The rules have tightened with effect from 20 March. Paula Tallon and Paul Howard explain why the new provisions may force companies to consider the true nature of transactions with their shareholders.
Adviser Q&A with Simon Garrett of CMS Cameron McKenna
Peter Vaines considers the ‘outrageously unfair’ rules at issue in the Lobler case.
‘George Osborne is finalising measures to clamp down on two of the world’s most notorious tax havens.
Austria’s finance minister demands UK government action against ‘havens for tax refugees’