Tax News
Mazars tax news covers everything tax related in the UK from, VAT to the latest HMRC rulings.
Find monthly updates on taxation in the UK, or search through the archive of our news. For the most up to date tax news and opinions on taxation in the UK, follow our Let's Talk Tax blog:
Let's Talk Tax
Share schemes simplified
Changes to SIP, SAYE and CSOP scheme rules recommended by the Office of Tax Simplification and adopted by the Government will take effect from 6 April 2014.
Loan interest tax relief on EEA company shares
From 6 April 2014 income tax relief for interest on loans to finance investment in a close or employee-controlled company will be extended.
Limitations to be introduced on application of EU Parent-Subsidiary Directive to counter tax avoidance
The purpose of the Parent-Subsidiary Directive 2011/96/EU is to prevent companies group companies, based in different EU Member States, from being taxed twice on the same income.
The ‘Hastings-Bass rule’ and tax avoidance schemes
Two cases heard together by the Supreme Court earlier this year changed the long-accepted interpretation of the ‘rule in Hastings-Bass’.
Claim for relief for foreign property loss fails at ECJ
A recent decision by the Court of Justice of the EU (ECJ) highlights limits of using the right to free movement of capital under the TFEU to override national tax legislation.
US LLCs – claiming double tax relief for US tax paid by a LLC – the Anson case
A UK taxpayer (George Anson) received a distribution from a Delaware limited liability company (LLC). Mr Anson had paid US Federal and State tax on his share of the LLC profits as they arose and he claimed relief for this US tax paid against his UK income tax liability.
The perils of principal private residence (PPR) relief from CGT
The recent case of Paul Gibson highlights a catch that cost the taxpayer dearly in capital gains tax, along with a 50% penalty for filing a tax return negligently (under the old penalty rules).
Supreme Court upholds HMRC refusal to reduce tax payable pending appeal
The Supreme Court ruling in Cotter v HMRC quashes attempts to gain an advantage by postponing payment of an earlier year’s tax by reference to a claim for loss relief.