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In brief

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12 February 2018
Issue: 4635 / Categories: News

Taxation Awards; Legislating ESCs; AML guidance; Fisheries; Scottish LBTT

Taxation Awards

The deadline for submitting entries to this year's Taxation Awards has been extended to 2 March.

 

Legislating ESCs

HMRC has published a summary of responses to its consultation on legislating ESC A37 (treating directors’ fees as trading income) EIM3002 (treating professional practitioners’ incidental employment income as trading income) EIM01120 (exempting financial loss allowance paid to employees by public bodies) and EIM61030 (treating payments from medical committees to members as trading income). Secondary legislation will come into force on 6 April.

 

AML guidance

HMRC has updated its anti-money laundering guidance. It clarifies when the Revenue may issue penalties directly to officers of the business (para 4.28); impose civil penalties for breaches of ‘fit and proper’ rules (para 5.8); and publish details of businesses issued with penalty notices (para 5.12).

 

Fisheries

The Scotland Act 1998...

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