News

Ireland gave illegal state aid to Apple worth €13bn, according to European Commission

Consultation calls for feedback on CCCTB.

Changes to FATCA regulations.

HMRC will receive an extra three quarters of a million pounds to fund their ongoing fight against tax dodging, the chancellor announced this afternoon.

The move to combat non-compliance and criminal activity was welcomed by the Association of Revenue and Customs (ARC), which represents the taxman’s senior staff members. The union’s president, Tony Wallace, claimed the £750m injection “will yield a significant dividend for the country”.

The Revenue has suspended its notification list of qualifying recognised overseas pension schemes (QROPS), after discovering the inclusion of schemes that do not meet the pension age test.

The European Commission (EC) has proposed ways to remove VAT barriers in the cross-border delivery of goods ordered and services received online.

The communication A Digital Single Market Strategy for Europe acknowledges that the administrative burden of VAT compliance and distortions of competition cause problems for businesses.

Tax transparency is becoming the norm, but many companies do not yet have systems or resources in place to meet new requirements, according to a study from accountancy giant EY.

The Court of Justice of the European Union (CJEU) wants to more than double its number of general court judges, as part of reform plans being examined by the European parliament.

The CJEU’s proposals – approved in principle by the Council of the EU – aim to “enhance the overall efficiency of the… court system and… provide structural and sustainable solutions”.

The mooted reform comes after the number of cases before the general court increased from 398 in 2000 to 912 in 2014, with growth expected to continue.

Globetrotting businesspeople are increasingly under scrutiny from HMRC, with no sign of a let-up in the near future, according to legal experts.

There has been a 29% rise in the number of tax probes into globally mobile high earners in the past year, City law firm PC has reported. The Revenue’s personal tax international compliance unit investigated 764 cases during 2014/15, up from 593 in 2013/14 and 438 in 2012/13.

VAT refund scheme

HMRC has issued Notice 1001 to explain the rules that apply to charities eligible for refunds of VAT under VATA 1994, s 33C and s 33D.  Qualifying charities can claim a refund of VAT incurred on most goods and services supplied to them on or after 1 April 2015 and which relate to their non-business activities. The charity does have to be VAT registered.