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Principles-based delay
 
HMRC published an update on 28 April (see http://snipurl.com/2e33p) indicating that two documents would be published in May taking forward consultation on principles-based measures to tackle avoidance involving disguised interest and transfers of income streams. Pressure of Finance Bill work has delayed completion of these documents and it is now expected that they will be published in the latter part of June.
Tribunals reform
 
HMRC has issued:
 
●     the draft Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2008 (see http://snipurl.com/2e342); and
 
●     a technical note: 'Tax Appeals against decisions made by HMRC' (see http://snipurl.com/2e34f).
 
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