HMRC have published three consultation documents concerning the direct tax aspects of the UK investment management strategy:
Vocalspruce Ltd v CRC, Upper Tribunal (Tax and Chancery Chamber)
HMRC have published a guide to creative industry tax reliefs, which allow qualifying companies to claim a larger deduction a payable tax credit when calculating their profits for corporation tax, by increasing the amount of allowable expenditure.
A company that makes a loss may be able to surrender the loss and convert some or all of it into a payable tax credit.
International corporation tax was the subject of the 2013 Wyman symposium
P & J McCann (Toomebridge) Ltd (TC2619)
How to obtain entrepreneur’s relief on liquidation
Bristol & West plc (TC2630)
As a result of Croatia entering into the European Union today, annual EU savings directive reports made by UK financial institutions to HMRC must include payments made to Croatian individuals after 1 July. The Revenue will issue reminders to organisations that currently make such returns.
Tune in to the new relief for TV and animation production companies
In a scenario that is the reverse of that usually encountered, the shareholders of an Isle of Man limited company intend that its place of residence should be moved to the UK
A radical new approach to address high-profile tax avoidance
HMRC have published a consultation document aimed at strengthening the code of practice on the taxation of banks, which has been adopted by 262 organisations since its introduction in 2009.
The condoc describes the approach expected of banks with regard to governance, tax planning and engagement with the Revenue, and discusses how the long-term effectiveness of the enhanced code can be ensured.