15 March 2018

Weekly Tax Update - 14 March 2018

Proposals on intermediaries who promote aggressive cross-border tax schemes
UK Tax
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Welcome to Tax update, which provides a round-up and explanation of the latest tax issues. 

This weeks highlights:

1  General

1.1  HMRC's refusal of LDF benefits to EBT applicants not an abuse of power

1.2 EC publishes report on 'aggressive tax planning' indicators

1.3  Proposals on intermediaries who promote aggressive cross-border tax schemes

1.4  First two unexplained wealth orders issued

2  Private client

2.1  HMRC publishes warning to owners of offshore assets

2.2  FTT finds reasonable excuse for late filed return

2.3  HMRC discovery assessment vacated following a COP9 investigation

2.4  FTT finds trading losses allowable deduction against general income

3  Trust, estates and IHT

3.1  Trust registration service (TRS) penalties announced

4  PAYE and employment

4.1  SAYE savings holiday

5  Business tax

5.1  Consultation into first time buyer relief for Land & Buildings Transaction Tax (LBTT)

5.2  New guidance on treatment of leases for LBTT made available

5.3  HMRC succeeds over contrived restrictive covenants payments in a DOTAS scheme

5.4  ATED valuation – a reminder

6  VAT

6.1  Further judgment on 'white goods' input tax claims

6.2  AG opines that sale of credits to participate in online penny auctions is taxable

6.3  MTD for VAT regulations

6.4  MTD for VAT – Smith & Williamson briefing note

6.5  FTT rules on partial exemption special method

7  And finally

To view the full update please click here.

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 2018.

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