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Transparency
The government has confirmed that a Companies House register of company beneficial ownership will be made publicly accessible. It will contain information on individuals with an interest in more than 25% of a company’s shares or voting rights, or who otherwise control the way it is run. The Department for Business Information and Skills will set out further details early next year in its formal response to an earlier discussion paper.
Transparency
The government has confirmed that a Companies House register of company beneficial ownership will be made publicly accessible. It will contain information on individuals with an interest in more than 25% of a company’s shares or voting rights, or who otherwise control the way it is run. The Department for Business Information and Skills will set out further details early next year in its formal response to an earlier discussion paper.
Inheritance tax
HMRC’s Inheritance Tax Manual has been updated to take into account the changes in the FA 2013.
New forms
HMRC have published updated forms IHT400, IHT419 and IHT400 guidance notes.
Supply of services
On 1 January 2015, changes will be made to the EU VAT place of supply of services rules for certain supplies of broadcasting, telecommunications and e-services. See information on how this may affect UK businesses.
Compliance
The UK and the Cayman Islands have signed an automatic tax information sharing agreement. The Cayman Islands have also agreed to be part of the G5 multilateral information sharing pilot.
Exchange rates
HMRC have published VAT Information Sheet 15/13. This provides information about some of the most used currency exchange rates needed by non-EU businesses registered for the special scheme in the UK so they can complete declarations and make payments to HMRC in sterling.
Landfill tax
HMRC have updated the landfill tax draft further guidance on lower rating published in September.
