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16 December 2014

The world has changed; so must the approach to resolving HMRC disputes

By Mark Whitehouse I have been helping businesses with tax disputes for over twenty years and during that period I cannot remember a time when tax issues were higher on the business agenda. The environment both in the UK and internationally is politically charged and the debates that are now...

UK brings in digital tax as Ofcom report identifies UK shoppers as the most prolific online

By John Steveni It’s now over a month since I wrote my blog We don’t need new digital taxes, we need an international tax system fit for the Digital Age about the OECD BEPS project which is seeking multilateral consensus to update the international tax system to cope with how...

The future of captives

By Loic Webb-Martin Some say there is no such thing as bad publicity. The profile of the captive insurance sector is increasing, but not for the right reasons. It was recently singled out in the OECD’s Base Erosion and Profit Shifting (BEPS) agenda; it's regarded, along with the rest of...

12 December 2014

Draft Finance Bill 2015 – HMRC releases new rules on diverted profits tax

Register now for our live webcast - 16th January 2015 By Stella Amiss This week saw HMRC release the new diverted profits tax (DPT) rules within its draft Finance Bill 2015. The new rules will affect large international companies that are considered to be artificially diverting profits away from the...

11 December 2014

Could the BEPS work on hybrid financing be just the tip of the iceberg?

By Mike Cooper When the OECD delivered their agreed paper addressing hybrid mismatch arrangements in September there will have been many groups acknowledging the potentially significant effects of the proposals that it contained, but not many can have been surprised. The Hybrids paper focusses on arrangements which are probably one...

09 December 2014

Kevin Nicholson on giving evidence at the Public Accounts Committee and the need to talk about future tax reform

By Kevin Nicholson Yesterday I gave evidence to the Public Accounts Committee (PAC) on tax arrangements in Luxembourg and the role of accountancy firms. As the PAC said, its focus was arrangements put in place in the past. There wasn't the opportunity to talk about the future. PwC has long...

05 December 2014

UK Government confident about proposed new IP regime

On 2 December 2014 HM Treasury released a Written Ministerial Statement confirming the earlier UK:Germany joint proposal was broadly welcomed by OECD members. HM Treasury have also provided a summary of frequently asked questions that address some of the points of uncertainty. Key highlights include: there is a little more...

03 December 2014

The Capital Gains Tax regime for non -residents

By Rosalind Rowe, real estate tax partner Last week the Government issued its response to the consultation document “Implementing a capital gains tax charge on non-residents” issued in March. This had set out the basis on which tax would be charged on gains realised by offshore investors in UK residential...

Good news for businesses and families on environmental taxes

By Jayne A Harrold, indirect tax senior manager Lots of good news for businesses and families on the environmental tax front today as costs are reduced in a number of areas, but it remains to be seen what environmental impact these reductions may have. Carbon price floor: CHPs excluded The...

National Insurance break for apprentices could save companies over £200,000 a year each

By John Harding, employment tax partner and Sara Caplan, education and skills partner The National Insurance Contributions break from April 2016 for employers employing apprentices under the age of 25, is a further boost to youth employment and will enable employers to invest the savings they make in National Insurance...