Weekly tax update 20 February 2018

General

• Tax appeal video hearing pilot launched
• GAAR advisory panel recruiting up to six new members
• ICAEW responds to HMRC on Making Tax Digital (MTD)
• Welsh vacant land tax to be taken forward

Private client

• HMRC 2016/17 tax calculations and class 2 NICs
• Successes in appeals against late filing penalties
• Penalties for late submission of non-resident CGT return
• Business investment relief guidance
• Another attempt to challenge HMRC on partnership carry back of losses fails
• FTT allows appeal against follower notice penalty
• Was there a discovery and was a tax insufficiency brought about deliberately?

Trust, estates and IHT

• OTS publishes its IHT scoping review document
• Trust Registration Service – further updates

PAYE and employment

• HMRC Published Spotlight 42 on Contractor Loan Schemes
• IR35 – FTT ruling in favour of HMRC 7

Business tax

• Country-by-Country Reporting – further guidance 7

VAT

• FTT provides judgement on the separate identity of branches and their recharges.

And finally

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.