Andrew Goldstone and Sarah Albury (Mishcon de Reya) review the latest developments that matter in the private client arena, including: HMRC’s hat trick of wins in cases against schemes promoted by NT Advisors; a consultation on VCTs; Lobler and rectification for the partial surrender of insurance policies; online filing of IHT accounts from August; and Tager and punitive tax-related penalties
Robert Field and Julian Pike (Farrer & Co) explain why ‘no comment’ is no longer an acceptable response to a media story on tax
How will a lower corporation tax rate benefit the Northern Irish economy? Eamonn Donaghy, head of tax at KPMG Belfast, explains that Northern Ireland, due to its disproportionately small private sector and shared border, is well-suited to reap the full advantages of a lower corporation tax rate.
Gideon Sanitt (Macfarlanes) considers the decision in Ingenious Media and when HMRC may be excused from its duty of confidentiality.
David Pickstone (Stewarts Law) reviews the recent Upper Tribunal decision in Ingenious, which considered whether HMRC could make allegations of dishonesty at a late stage in proceedings without having pleaded them in its statement of case.
The following has been published:
New tax reports: The Public Accounts Committee has published its 49th and 50th reports of this session, The effective management of tax reliefs and Improving tax collection, following evidence given to the PAC from Jim Harra (HMRC director general of business ta
HMRC has made welcome changes to the new diverted profits tax, which takes effect from 1 April. As a result, the tax should not disrupt commercially based planning supported by economic substance, writes Shiv Mahalingham (Duff & Phelps).
The Treasury has published its proposed next steps on tackling evasion and avoidance. James Bullock (Pinsent Masons) reviews the detail.