Welcome to Tax update, which provides a round-up and explanation of the latest tax issues.

Read this week's Tax update

1. General

  • Finance Act 2017
  • Criminal Finances Act 2017

2. Private client

  • Proposed income tax exemption for UEFA Champions League cup final
  • HMRC provision of pay and tax details
  • FTT considers 'Excalibur' scheme used to generate capital loss
  • Commons committee report on 'gig economy' employment status

3. Trust, estates and IHT

  • Trusts register
  • Inheritance Tax: Online calculator for residential nil-rate band
  • Trusts and taxation of index-linked loans

4. PAYE and employment

  • Changes to PAYE system
  • Contributions of assets to registered pension schemes

5. Business tax

  • International tax compliance
  • Official Journal publishes Starbucks State Aid Decision

6. VAT

  • Building alterations and the reduced rate of VAT
  • Use and enjoyment and telecoms services
  • Updated HMRC guidance on VAT and holding companies
  • Input VAT recovery on incorrectly invoiced VAT

7. And finally

We have taken care to ensure the accuracy of this publication, which is based on material in the public domain at the time of issue. However, the publication is written in general terms for information purposes only and in no way constitutes specific advice. You are strongly recommended to seek specific advice before taking any action in relation to the matters referred to in this publication. No responsibility can be taken for any errors contained in the publication or for any loss arising from action taken or refrained from on the basis of this publication or its contents. © Smith & Williamson Holdings Limited 2017.