Tax / OECD consults on global tax rules to stop profit shifting

The OECD is consulting on its global anti-base erosion (GloBE) proposal which is designed to prevent multinationals from profit shifting, by developing rules which would effectively create a minimum tax rate worldwide

Tax / Individual tax accounts need a revamp, says OTS

The Office of Tax Simplification (OTS) is calling for improvements to HMRC’s individual tax account service to provide an end-to-end tax reporting and payment service for the self employed and buy-to-let landlords

Tax / 1 in 5 law firms ignore money laundering rules

The Solicitor Regulation Authority (SRA) is planning to launch money laundering investigations into 7,000 law firms after they discovered that too many were not complying with anti-money laundering regulations

Tax / Scotland plans plastic drinks cup tax

The Scottish government is to introduce a charge on single-use drinks cups in a bid to reduce the amount of plastic used

Tax / OECD tax overhaul would see profits taxed by jurisdiction

The OECD is consulting on plans for a major change to the international rules on taxing multinationals (MNEs), including digital companies, so that they pay tax wherever they have significant consumer-facing activities and generate their profits

Tax / Tax updates: October 2019

In this month’s tax updates, three BBC presenters lose IR35 case, Apple tax demand ‘defies reality’, Glencore wins £51m transfer pricing appeal, HMRC does not understand small business, 120,000 miss MTD deadline, double NIC Brexit warning, and NHS pension tax consultation

Tax / Tax consultations: October 2019

This month’s HMRC and Treasury consultations focus on disclosure of certain cross-border arrangements that could be used to avoid or evade tax, and amendments to new provisions extending taxation of gains accruing to non-UK residents to include disposals of interests in non-residential UK property

Tax / Amendments to rules on ‘UK property rich’ collective investment vehicles

HMRC is consulting on draft amendments to legislation about the taxation of UK property rich collective investment vehicles and their investors, which are designed to ensure the new rules work as intended

Tax / Consultations: Sep-Oct 2019

This month's HMRC and Treasury consultations focus on simplification of partial exemption and capital goods scheme and cross-border tax disclosure rules affecting intermediaries and tax advisers

Tax / Consultations: Aug-Sep 2019

This month's HMRC and Treasury consultations focus on an overhaul of Companies House' business disclosure regime, plans to simplify VAT capital goods scheme, cross-border tax disclosure rules and reduction in employment allowance NICs 2 threshold 

Tax / OTS reviews tax reporting for self employed

The Office of Tax Simplification (OTS) has launched a project to review tax reporting and payment arrangements for self-employed people and buy-to-let landlords

Tax / HMRC consults on cross-border tax disclosure rules

The government is consulting on new rules required to implement an EU directive that will require the disclosure to HMRC of certain cross-border arrangements that could be used to avoid or evade tax

Tax / Plastic waste tax set for 2022 launch

The Treasury plans to go ahead with plans for a single-use plastic waste tax, covering all plastics and chargeable by weight, although it will not become law for three years

Tax / Plans to simplify VAT capital goods scheme

The government has launched a consultation on simplifying VAT on capital assets to reduce the administrative burden of capital goods scheme (CGS) compliance

Tax / ECJ ruling sees red diesel outlawed for pleasure boats

Private pleasure crafts will no longer be able to use red diesel on UK waterways as a result of a European court ruling