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Infringement proceedings launched against the UK

31 July 2018
Issue: 4658 / Categories: News

Infringement proceedings against the UK over VAT mini one-stop-shop.

The European Commission sent its ‘reasoned opinion’ to the UK requesting it to share with other member states the bank account details of traders registered for the VAT mini one-stop-shop to comply with the EU administrative co-operation regulation. The commission issued a letter of formal notice in January.

The commission has also issued letters of formal notice to the UK requesting information about share loss relief (CTA 2010 s 68) and capital gains tax relief for irrecoverable loans to traders (TCGA 1992 s 253). This is on the ground that both reliefs contravene EU law on free movement of capital in Art 63 of the Treaty on the Functioning of the EU.

On share loss relief the commission is asking the UK to align its rules with EU law on income tax relief for losses on disposals of shares. Only shares in companies that carry out...

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