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We have an interesting collection of news and updates this week and the fate of the current Finance Bill hangs in the balance.
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Hello
We have an interesting collection of news and updates this week and the fate of the current Finance Bill hangs in the balance.
STOP PRESS: On 25 April 2017 it was confirmed that a large chunk of the bill will be cut.
Prime Minister Theresa May's snap decision to call an early general election on 8 June 2017 leaves the fate of the Finance (No s) Bill 2016/17 hanging in the balance. It may either be rushed through parliament intact but with little parliamentary scrutiny or the more difficult parts of the bill could be omitted.
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Just a short update this week due to the bank holiday weekend.
HMRC's consultation, ‘Making Tax Digital sanctions for late submission and late payment' closed on 11 June 2017. Responses are anticipated shortly.
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This time we feature a couple of closure notice cases that also manage to link to some of our recent updates on domicile, tax relief on interest and partnership tax, as well as some of the more complex anti-avoidance rules.
If you are about to become deemed UK domiciled under the new rules, applicable from 6 April 2017, consider carrying out some pre-year end tax planning.
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