Weekly tax update 10 July 2018

The latest tax and VAT round up for this week.

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Geoff Everett, Andrew Wilkes
Published: 10 Jul 2018 Updated: 30 Jan 2023


  • Publication of Finance (No 3) Bill Clauses
  • Fake tax websites
  • Global revenue statistics database
  • Tax abuse and insolvency consultation closes
  • CIOT’s concerns over HMRC’s eagerness to litigate
  • New UK/Jersey, Guernsey and Isle of Man double taxation agreements

Private client

  • Seed Enterprise Investment Scheme
  • FTT finds property was not only or main residence
  • FTT finds that HMRC did not serve a valid notice to file

Trust, estates and IHT

  • Guidance on records to keep for trusts updated

PAYE and employment

  • PAYE reporting – extension of 3-day grace period.
  • Mutuality of obligations


  • Cross-border supplies
  • CJEU confirms that sale of credits to participate in online penny auctions is taxable
  • Letting a building to a subsidiary constitutes an ‘economic activity’

By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.


This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.