In brief

BEPS

Barbados Ivory Coast Jamaica Malaysia Panama and Tunisia have signed the base erosion and profit shifting multilateral convention bringing the number of signatories to 78.

VCTs

The Venture Capital Trust (Exchange of Shares and Securities) (Amendment) Regulations SI 2018/109 come into force on 22 February to specify conditions in which VCTs can exchange shares or securities for new ones during company reconstructions without losing approved status. See here.

Residence

HMRC has updated RDR1: residence domicile and the remittance basis . It replaces the June 2016 version to reflect changes to the deemed domicile rules which took effect from 6 April 2017. The main changes are in new section 5.21 and section 9.32.

Scotland

The Scottish government has updated its draft Budget proposals lowering the income tax higher rate threshold to £43...