The City of London Law Society’s Revenue Law Committee and the CIOT have responded to the consultation document Tackling marketed tax avoidance, published on 24 January 2014.
The guidance was reissued on 20 February 2014 and applies from 4 November 2013. It has been updated to reflect legislative changes, in particular in relation to the employment and confidentiality hallmarks and the extension of DOTAS to the new annual tax on enveloped dwellings (ATED).
The First-tier Tribunal has quashed a disclosed tax avoidance scheme which sought to generate significant losses.
Marketed loss scheme
Jane McCormick asks the fundamental question: would the provision of additional tax data solve the issue of perceived tax avoidance by multinationals?
Views from tax professionals on some of the points to watch in the draft measures due to be included in this year's Finance Bill.
Financial services businesses in the Crown dependencies and British overseas territories are subject to a new information reporting regime, following intergovernmental agreements signed with the UK. Jason Collins and Reg Day review what needs to be reported by such businesses in respect of family trusts and private investment companies, in light of new draft guidance
Philip Fisher examines a recent tribunal victory for HMRC concerning dividend waivers that could have wider implications
Richard Jeens considers HMRC’s two recent consultations on tackling avoidance.
HMRC has published draft legislation which identifies 11 ‘threshold’ conditions targeting specified behaviours by promoters of tax schemes, and provides for a ‘conduct’ notice to be issued to those promoters.