Weekly tax update 15 May 2018

In this week's tax update:

General

• Resolution Foundation issues far-reaching report
• Enablers of tax avoidance
• Tax avoidance schemes: Accelerated Payment Notices
• HMRC updates non-statutory guidance clearance

Private client

• Simple assessment and dynamic PAYE coding
• CA finds that reasonable excuse cannot not apply to non-mandatory provisions

Trust, estates and IHT

• Trusts Registration Service (TRS) – unregistered pension schemes
• Trusts Registration Service (TRS) – IHT

PAYE and employment

• Employment income or compensation?
• Ex gratia payment partially exempt for injury to feelings

Business tax

• Dealing in shares and financial instruments was trading with a view to a profit
• FTT strikes down SDLT sub-sale scheme
• Consultation on potential reliefs from LBTT
• Consultation on revisions to the transfer pricing guidelines

VAT

• Distance selling - place of supply if customer arranges for transport
• Input tax recovery in relation to an attempted strategic takeover
• Are hire-purchase agreements taxable supplies?

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.