In brief

Royal assent

Finance (No 2) Act 2017 received royal assent on 16 November.

Corporation tax

HMRC has published guidance on how some corporation tax returns may need amendment because of retrospective changes to corporation tax legislation in F(No 2)A 2017. These are effective from 8 March for appropriation to trading stock and 1 April for other areas including loss reform corporate interest restrictions substantial shareholdings exemption offshore property developers and restrictions to deductions for employers’ payments into employee benefit schemes.

BEPS

Qatar and Saint Kitts and Nevis have joined the inclusive framework on the Organisation for Economic Co-operation and Development and G20 base erosion and profit shifting project. They bring to 106 the number of countries and jurisdictions participating on an equal footing.

VAT

Notice 700/62: self billing has been revised. It updates the September 2014...