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TAXline: July 2018

In this issue, Kevin Slevin explains the Finance Act 2016 anti-avoidance rules on liquidation distributions, ICAEW’s president Paul Aplin sets out his priorities for 2018, Andrew Parrock describes the new Office of Tax Simplification strategic review on HMRC’s guidance and Jane Moore looks at the latest Office of Tax Simplification report.

Cover story: Exploring the end of phoenixism
Kevin Slevin explains the Finance Act 2016 anti-avoidance rules on liquidation distributions – and how they can catch normal commercial arrangements.

Our cover story is freely available. To access the features below and more exclusive content join the Tax Faculty.

Paul Aplin on tax in 2018
ICAEW’s president Paul Aplin sets out his priorities for 2018, the challenges he’ll face and why he believes tax is crucial.

The Trust Registration Service – IHT and overseas assets
Lynnette Bober looks at a practical issue that the ICAEW Tax Faculty have clarified with HMRC – issues arising from Sch 10, Finance (No. 2) Act 2017.

Office of Tax Simplification review on HMRC’s guidance
Andrew Parrock describes the new Office of Tax Simplification strategic review on HMRC’s guidance.

The Office of Tax Simplification on simplifying tax on savings
Jane Moore looks at the latest Office of Tax Simplification report, Savings income: routes to simplification.

An update on the work of TaxAid and Tax Help for Older People
Julie Cameron gives an update on the work of the TaxAid, Tax Help for Older People and the Bridge the Gap campaign.

Probate valuations of property and the case of Palliser v HMRC
Julie Butler considers the decision in Palliser v HMRC and the implications for probate valuations of property.

"In
In this issue, ICAEW’s president Paul Aplin sets out his priorities for 2018 and Jane Moore looks at the latest OTS report.

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  Practical points Topic
123 Feedback needed on iforms Tax adminstration
124 Workers on secondment to the UK: send forms 64-8 or SA1 online Tax adminstration
125 Availability of software for MTD Making Tax Digital
126 MTD for income tax pilot extended to property income  Making Tax Digital
127 MTD: represented businesses will need to access their Business Tax Account Making Tax Digital
128 2017/18 exclusions from SA online filing Personal tax
129 Taxpayer wins IR35 case  Business tax
130 Availability of losses on acquisition of trade Business tax
131 State aid approval confirmed for EMI share schemes Business tax
132 Substantial shareholding exemption: defining ‘substantial’ Business tax
133 Company cars: advisory fuel rates Employment tax
134 Collection of student loans Employment tax
135 Class 2 NIC window of opportunity Employment tax

136

MPs say universal credit does not work for the self-employed VAT and duties
137 Incorporation relief and clearances Property tax
138  Administrator’s responsibility for IHT liability
Personal tax
139 VAT annual accounting scheme 
VAT and duties
140 Missing trader fraud: HMRC guidance
Tax adminstration
141 Zero-rate treatment of new student flats
Tax adminstration
142 HMRC’s agreement with online marketplaces
Tax adminstration
143 Time limits for claims 
Tax adminstration
144 Disguised remuneration loan schemes: settlement opportunity deadlines
Tax administration
145 LBTT group relief ‘fix’ not retrospective

Devolved taxes

146  Country by country reporting to tax authorities
International taxes 
147 New EU mandatory disclosure rules for cross-border arrangements
International taxes

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