Bedtime reading – if you’re a tax anorak!

Sep 25, 2017

Another week has gone and the draft legislation keeps coming. Draft legislation and policy papers in various areas has been published as follows:

  • Details of a measure introducing HMRC powers to register and de-register master trust pension schemes and schemes for dormant companies have been published.
  • A policy paper on Offshore trusts: anti-avoidance has been published
  • Further secondary and tertiary legislation on income tax and VAT in the context of Making Tax Digital has been published for comment
  • Tackling disguised remuneration - avoidance schemes deals with further changes to tackle disguised remuneration tax avoidance schemes including the close companies’ gateway and new information requirements for the loan charge
  • Termination payments: removal of foreign service reliefremoves foreign service relief as it applies to income tax applicable to employment termination payments and introduces a residency test
  • A tax information and impact note has been published which extends an existing exemption for compensation payments to those paid by the new Infected Blood Schemes