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Three weeks to 28 February 2019

Welcome to our latest update on recent developments in international and treasury tax of interest to multinationals operating in the UK.

Recording of webinar with HMRC discussing their new Profit Diversion Compliance Facility
In view of the need for urgent action or consideration following the launch of HMRC's Profit Diversion Compliance Facility, and to assist anyone likely to be in receipt of a letter from HMRC, we invited HMRC to participate in a webinar on Wednesday 20 February 2019. A recording of the webinar is available here.

Tax Function of the Future: Brexit: Setting expectations for a new world
Watch the replay of this webcast held on Tuesday, February 19, 2019: Brexit - Setting expectations for a new world.

Stamp Duty Land Tax - 1% non-UK resident surcharge consultation
On 11 February 2019 HMRC and the Treasury together issued a consultation document in respect of a 1% SDLT surcharge for non-UK resident purchasers of residential land interests in England and Northern Ireland. The consultation period will run until 6 May 2019 at which point the UK Government will consider the responses and decide whether to go ahead with the 1% surcharge on foreign buyers. The 1% surcharge is, therefore, not current law and does not yet apply. Read more.