Michael Thomas (Pump Court Tax Chambers) looks at the rules introduced in the recent Budget intended to ensure that profits from a trade dealing in or developing UK land are always chargeable to UK corporation tax or income tax.
Tori Magill and Anne-Marie Ottaway (Pinsent Masons) look at the recent controversy and the fine lines between tax planning, avoidance and evasion.
Andrew Goldstone and Charlie Sosna (Mishcon de Reya) review recent private client tax developments that matter.
Expect HMRC to act, writes Jessica Parker (Corker Binning)
Finance Bill 2016 includes provisions for HMRC to require information on certain state aid issues so that the department can provide it to the European Commission, says Kelly Stricklin-Coutinho (39 Essex Chambers).
HMRC has asked for access to the leaked data – the ‘Panama papers’ – which, it is alleged, reveal large-scale tax evasion and money laundering facilitated by Mossack Fonseca, a law firm based in Panama.
HMRC has published guidance on the new ‘special measures’ regime in Finance Bill 2016 (Sch 19) for those large businesses which persistently engage in aggressive tax planning, or refuse to engage constructively with HMRC.