Weekly Tax Update 18 June 2019

General

• Tax update
• Significant tax revenue generated by international tax transparency initiatives
• Agent Update 72 released

Private client

• FTT considers allocation of payments between tax debts
• FTT recalculates gain based on evidence HMRC had not accepted

Trusts, estates and IHT

• ATT calls for more guidance on the trust register

PAYE and employment

• Employee liable for tax after error on employment tax forms
• HMRC updates guidance for loan schemes not yet settled

Business tax

• Second round of Diverted Profits Tax nudge letters expected
• Updated guidance on CT relief for goodwill and intangible assets

VAT

• Royal Opera House production costs found to be partially recoverable
• CA allows VAT on onward charging of exempt supplies with an added service

And finally

• Let them eat cake!

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.