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The Office of Tax Simplification has just published its latest smaller business review (tinyurl.com/yygkjndd), commissioned last summer by the Chancellor.

For US expats living in the UK, the spectre of US taxation looms large due to the unique citizenship-based taxation system in the United States.

In recent years the amount of UK real estate in ‘foreign’ ownership has become a topic of political sensitivity.

Following a raft of successive piecemeal changes to the Capital Gains Tax (‘CGT’) regime over the years (see the article Over Baked in the May 2017 issue of Tax Ad

Background to the regime

The UK Patent Box became effective from 1 April 2013 with legislation governing the regime contained within CTA 2010 ss 357A-357GE Part 8A.

Avid Tax Adviser readers (with excellent memories) may recall my article The Sequel! from the May 2017 issue, which considered the changes to Diverted Profits

The very first project from the brand new Office of Tax Simplification looked at tax reliefs.

This might seem an odd time to be talking about tax reform.

Tax advisers are facing a wide range of new rules intended to address tax non-compliance by tackling the activities of advisers who HMRC believe are assisting their clients to evade tax.

As well as being governed by the normal loss relief rules for trading businesses, additional rules apply in respect of farming trades.