Insights

Weekly tax update 9 October 2018

  • Written By: Geoff Everett, Andrew Wilkes
  • Published: Wed, 10 Oct 2018 08:17 GMT

In this weeks tax update:

General

  • UK Digital Services Tax warning
  • Draft Welsh Budget released
  • Scottish Budget date announced
  • Multilateral Instrument comes into force in the UK

Private client

  • Penalties cancelled as taxpayer could not have expected filing requirement

Business tax

  • Derivatives loss denied by UT
  • CIOT warns draft legislation is contrary to EU law
  • ATT calls on HMRC to reduce compliance requirements for losses

VAT

  • FTT rejects DIY Housebuilders’ Scheme
  • EU permits reduced VAT rates on electronic publications
  • Brexit legislation receives Royal Assent

Tax publications

  • Briefing Notes published

And finally

  • Told you

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of publication.

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