HMRC has provided us with details of its current approach to clearance requests involving distributions in a winding-up.
The professional bodies point to the advantages of removing the barriers to de-enveloping residential property
The team report on the amendments to the entrepreneurs’ relief clauses in Finance Bill 2016
ATT provides comments to HMRC on F(no2)B 2016, cl 72, Schs 11 and 12
The CIOT has written to HMRC with suggestions for examples that we would like to be addressed in HMRC guidance on cl 35
Finance (No2) Act 2015 s 50 places notification obligations on persons who give offshore advice or services. Regulations have not yet been published. We will be issuing guidance for members as soon possible.
The CIOT/ICAEW-led stakeholder group considers the Finance Bill 2016 entrepreneurs’ relief clauses and recommends some amendments.
FB 2016 corrects drafting errors but fails to rectify the anomaly for interest in possession trusts.
The consultation seeks input on what contributions should attract tax relief, how they should be routed and what reporting requirements might be appropriate.
CIOT comments on HMRC’s revised position