Insights

Weekly Tax Update 18 June 2019

  • Written By: Ami Jack
  • Published: Wed, 19 Jun 2019 09:50 GMT

General

  • Tax update
  • Significant tax revenue generated by international tax transparency initiatives
  • Agent Update 72 released

Private client

  • FTT considers allocation of payments between tax debts
  • FTT recalculates gain based on evidence HMRC had not accepted

Trusts, estates and IHT

  • ATT calls for more guidance on the trust register

PAYE and employment

  • Employee liable for tax after error on employment tax forms
  • HMRC updates guidance for loan schemes not yet settled

Business tax

  • Second round of Diverted Profits Tax nudge letters expected
  • Updated guidance on CT relief for goodwill and intangible assets

VAT

  • Royal Opera House production costs found to be partially recoverable
  • CA allows VAT on onward charging of exempt supplies with an added service

And finally

  • Let them eat cake!

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