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Film partnerships; Beneficial ownership; VAT; Contracting out; Employer Bulletin 59
Film partnerships
The Supreme Court has refused an appeal by Eclipse 35 a limited liability partnership (LLP) that it was a trading rather than an investment business. The Court of Appeal decision therefore stands: the claimed tax relief is not allowable but the participants remain liable to tax on the income received by the LLP.
Beneficial ownership
The UK Germany France Italy and Spain have agreed to exchange data on company beneficial ownership registers and new registers of trusts.The five countries are urging the rest of the G20 nations to progress towards a fully global exchange of beneficial ownership information.
VAT
VAT Notes 2016 Issue 1 has been published. It contains information about the alcohol wholesalers registration scheme landfill tax the domestic reverse charge for businesses wholesaling telecommunications services and the VAT mini one stop shop simplifications for businesses trading below the registration threshold.
Contracting out
HMRC has published Countdown...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
