House of Lords Economic Affairs Committee report on The Powers of HMRC: Treating Taxpayers Fairly
The House of Lords Economic Affairs Committee has issued its fourth report of 2017-19 session which covers HMRC’s powers. The report provides detailed consideration of the introduction of the extension to offshore time limits, the proposed changes to HMRC’s civil information powers and the 2019 loan charge. The report also covers taxpayer safeguards, policy processes and HMRC powers, accountability and changing culture. Read more here.
House of Lords recommend withdrawal of extension to offshore time limit legislation in Finance (No3) Bill 2018
Finance (No3) Bill 2018 contains draft legislation in respect of the proposed extension of offshore time limits relating to income tax, capital gains tax and inheritance tax. However, concerns have been expressed over the introduction of the clauses. Read more here.
Brexit: the moments that matter as we approach March 2019
Over the next few days and weeks there are lots of key milestones in the Brexit process, both in the negotiations themselves and in getting a deal through the UK and EU Parliaments. PwC’s Anna Wallace and Michael Moore unravel the complexity and lay out the moments that matter as we get closer to 29 March 2019. Read more.
Tax treaty with Poland updated for MLI
HMRC has published the ‘synthesised’ text of the UK’s double taxation convention with Poland, as modified by the BEPS multilateral instrument (MLI). The MLI came into force for the UK on 1 October 2018 and for Poland on 1 July 2018. See here.
Transfer pricing disputes
In this series of articles we will share experience gained on how best to prepare for, and successfully navigate a way through, the new type of TP enquiry in the UK.