This document is from our Archive and no action should be taken in reliance on it without specific legal advice. You can perform a search for more recent content. Tax Aware Issue 3: October 2017 Post Clarification of the tax treatment of partnerships Draft legislation was published on 13 September 2017 which clarifies the rules for the allocation and calculation of partnership profits and sets out the requirements for certain partnership returns. Post Automatic Exchange of Information takes place under CRS The UK, together with 48 other jurisdictions, started to exchange information under the Common Reporting Standard (CRS) for the first time last week. Post The new corporate interest restriction rules New rules are being introduced which impact UK companies that have interest or interest-like expenses. Post HMRC targets enablers of tax avoidance schemes HMRC's list of powers to tackle tax avoidance continues to grow, with the introduction of a new offence targeted at persons who "enable" tax avoidance. Post Failure to prevent the facilitation of tax evasion: two new criminal offences Two new highly publicised offences of the failure to prevent the facilitation of tax evasion came into force on 30 September 2017. Post GAAR Advisory Panel supports HMRC in its first published opinion The independent GAAR Advisory Panel was set up in 2013 to provide guidance and non-binding opinions on cases where HMRC considers that the General Anti-Abuse Rules (GAAR) may apply. Post Making Tax Digital: modernising tax administration Draft legislation was published on 13 September in respect of income tax and an overview of draft regulations in respect of VAT as part of the Making Tax Digital reforms. Previous Issues Prev Issue 19 May 2023 Issue 18 Jan 2023 Issue 17 Sep 2022 Issue 16 Apr 2022 Issue 15 Jan 2022 Issue 14 Jun 2021 Issue 13 Feb 2021 Issue 12 Sep 2020 Issue 11 Apr 2020 Issue 10 Nov 2019 Issue 9 Jul 2019 Issue 8 Feb 2019 Issue 7 Oct 2018 Issue 6 Jul 2018 Issue 5 Apr 2018 Issue 4 Jan 2018 Issue 3 Oct 2017 Share
Post Clarification of the tax treatment of partnerships Draft legislation was published on 13 September 2017 which clarifies the rules for the allocation and calculation of partnership profits and sets out the requirements for certain partnership returns.
Post Automatic Exchange of Information takes place under CRS The UK, together with 48 other jurisdictions, started to exchange information under the Common Reporting Standard (CRS) for the first time last week.
Post The new corporate interest restriction rules New rules are being introduced which impact UK companies that have interest or interest-like expenses.
Post HMRC targets enablers of tax avoidance schemes HMRC's list of powers to tackle tax avoidance continues to grow, with the introduction of a new offence targeted at persons who "enable" tax avoidance.
Post Failure to prevent the facilitation of tax evasion: two new criminal offences Two new highly publicised offences of the failure to prevent the facilitation of tax evasion came into force on 30 September 2017.
Post GAAR Advisory Panel supports HMRC in its first published opinion The independent GAAR Advisory Panel was set up in 2013 to provide guidance and non-binding opinions on cases where HMRC considers that the General Anti-Abuse Rules (GAAR) may apply.
Post Making Tax Digital: modernising tax administration Draft legislation was published on 13 September in respect of income tax and an overview of draft regulations in respect of VAT as part of the Making Tax Digital reforms.