Weekly tax update 2 October 2018

The latest weekly tax update and VAT round up for this week.

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Geoff Everett, Andrew Wilkes
Published: 02 Oct 2018 Updated: 31 Jan 2023

In this weeks tax update:


  • Budget 2018 date announced
  • Welsh taxpayer guidance released
  • CIOT responds to HMRC’s proposal to extend powers

Private client

  • FTT denies an equitable claim for Entrepreneurs’ Relief
  • Restriction on private residence relief (PRR) for off-plan property purchase
  • CGT holdover relief allowed by UT

Business tax

  • Capital allowances claims fail for licence schemes
  • Proposed EU Digital Services Tax rate increases


  • Alternative Dispute Resolution agreement amounts to a contract
  • No reduced VAT rate for components supplied as part of a single supply

And finally

  • Mending the guttering

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.