Weekly tax update 16 October 2018

In this week's tax update:

General

• OTS report recommends overhaul of taxpayer guidance

Private client

• Non-resident CGT penalties cancelled for UK resident
• Thinktank recommends CGT relief for long term tenants
• Expenditure incurred by associated company not allowable for CGT purposes

Business tax

• CA upholds UT decision on tax avoidance scheme

VAT

• VAT is applicable to the full sales price of goods sold on credit terms
• VAT disallowed on the sale of land

Tax publications

• Briefing Notes published

And finally

• It depends how you see it

DISCLAIMER
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.