HMRC Information Powers by Mark McLaughlin

Most practitioners will be aware of HMRC’s statutory powers to obtain information and documents from the taxpayer which are reasonably required by HMRC for the purpose of checking the taxpayer’s tax position. ‘Checking’ in this context includes carrying out an investigation or enquiry of any kind (FA 2008, Sch 36, paras 1, 58). HMRC’s information powers are therefore wide-ranging. However, …

Tackling tax evasion: the new corporate offences by Myfanwy Neville

Myfanwy Neville, Audit, Tax and Business Advisory Partner at BKL, explains the implications of the new corporate criminal offences on businesses.  To prevent the criminal facilitation of tax evasion, two new corporate criminal offences were introduced on 30 September this year (following Royal Assent of the Criminal Finances Act on 27 April 2017). Corporates and partnerships that fail to meet …

Making Tax Digital by Lee Sharpe

Lee Sharpe looks at progress on Making Tax Digital, following the legislative updates. General Update A general update on MTD was included in Lee’s previous post: Making Tax Digital: Discussion and Disagreement on the Cost of MTD. The big news, of course, was the slippage of the introduction of mandatory ‘digitalisation’ for direct taxes, from April 2018 to “definitely no …

The effect of Brexit on the application of the EU direct tax directives by Paolo Arginelli

Paolo Arginelli, contributing author to Bloomsbury Professional’s forthcoming Tax Implications of Brexit, looks at the possible consequences of UK companies losing the right to benefit from EU direct tax directives. One of the main achievements of the EU, from a direct tax perspective, has been the adoption of the Parent-Subsidiary Directive (Council Directive 2011/96/EU of 30 November 2011), the Interest …

Likely changes to SEIS, EIS And VCT reliefs by David Brookes

Don’t worry – the venture capital tax reliefs are not likely to be abolished, but those of us who work with growth companies seeking investment through the Seed Enterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs) are not looking forward to the 22 November Budget. Rumours are rife that the Treasury intend to curb the …