Weekly tax update 23 October 2018

The latest weekly tax update and VAT round up this week

Tree 106005665
Geoff Everett, Andrew Wilkes
Published: 23 Oct 2018 Updated: 31 Jan 2023

In this week's tax update:


  • Finance Bill date set
  • OECD recommends beneficial ownership register for partnerships
  • Lord’s Committee criticises HMRC’s use of powers
  • Report on the history of anti-avoidance measures

Private client

  • Compensation payments found to be revenue receipts
  • Property was not taxpayer’s residence for Only or Main Residence (OMR) relief
  • FTT finds double tax treaty does not prevent a transfer of assets abroad charge

Trusts, estates and IHT

  • FTT cancels penalties as trustees could not be given a valid notice to file

PAYE and employment

  • Employer Bulletin - Issue 74
  • Government dismisses pension reform recommendations

Business tax

  • HMRC’s agent Update 68
  • OTS opens business lifecycle survey


  • VAT
  • Making Tax Digital delay for ‘complex’ taxpayers

Tax publications

  • Briefing Notes published

And finally

  • Speaking truth to power

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.