Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
As always, if there are any areas you would like more information on (or if you have any questions or feedback), please let us know or get in touch with your usual RPC contact.
News
New SDLT surcharge for non-UK residents
Following the Chancellor's announcement in his Spring Budget 2021, HMRC has released guidance on the new 2% surcharge for non-UK residents who acquire residential property in England and Northern Ireland. Read more
HMRC publishes new Employment-Related Securities Bulletin
HMRC's Employment-Related Securities Bulletin 38 provides an update on recent developments including enterprise management incentive work time requirements. Read more
OECD invites comment on its proposed changes to the Commentary on Article 9 of its Model Tax Convention
The OECD has invited comment from interested parties on a public discussion draft regarding their proposed changes to the Commentary on Article 9 and other related articles of its Model Tax Convention. Read more
HMRC amends its Employment Income Manual
HMRC has announced amendments to its Employment Income Manual EIM13877, EIM13886 and EIM13888 to reflect changes contained in the Finance Bill 2021, to the provisions on post-employment notice pay (PENP). These changes came into effect on 6 April 2021. Read more
Cases
Ball Europe - Accounting entry not included in tax return sufficient to preclude discovery assessment
In Ball Europe Ltd v HMRC [2021] UKFTT 23 (TC), the First-tier Tribunal (FTT) has held that the presence of amounts in a taxpayer's accounts but not its tax return was sufficient for a 'hypothetical officer' of HMRC reasonably to be expected to be aware of a tax insufficiency and this prevented HMRC from issuing a valid discovery assessment. Read more
Eastern Power Networks - Court of Appeal confirms that HMRC does not need to close its enquiries
In Eastern Power Networks plc and others v HMRC [2021] EWCA Civ 283, the Court of Appeal (CofA) has upheld the UT's decision that it was not appropriate to direct HMRC to issue closure notices. Read more
Outram - Tribunal prevents HMRC from relying on new argument
In Outram and another v HMRC [2021] UKFTT 29 (TC), the FTT has prevented HMRC from relying on a new argument contained in its skeleton argument which had not been included in its statement of case. Read more
And finally...
Whilst not strictly speaking tax-related, much is happening in the world of financial crime that may affect you or your business. We have produced a new publication called 'Crime Time', which aims to provide an easily digestible overview of issues that may be of interest in the world of financial crime.
You can read our latest edition here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
