Mark Middleditch (Allen & Overy) reviews recent developments affecting the City, including the consultation on interest expense and the corporation tax treatment of fines and related payments made by banks.
Michael Conlon QC (Temple Tax Chambers) writes that a ruling of the Supreme Court may cause HMRC to re-examine whether excess parking charges are within the scope of VAT.
Andrew Goldstone and Victoria Howarth provide an update, including: the increased transparency of ownership of UK companies; new HMRC guidance on the taxation of damages; a recent decision on reasonable excuse for late returns; and why professionals acting as charity trustees need to be aware of potential conflicts of interest
Timothy Jarvis considers the recent decision in McLaren Racing concerning whether penalty fines are tax deductible