Tax Newsletter

On 1 July 2021, in a historic agreement, 130 countries approved a statement providing a framework for reform of the international tax rules.

Unexpected changes to HMRC guidance affecting UK resident non-doms with borrowing secured on non-UK assets.

The Stamp Duty Land Tax (SDLT) surcharge for overseas buyers of residential property was announced in the 2018 Budget.

Numerous professional bodies have been discussing with HMRC the availability of the UK inheritance tax (IHT) spouse exemption.

Clause 18 and Schedule 2 of Finance Bill 2021 provide a temporary extension to the carry-back of trading losses.

Tynwald approved legislation to extend the IOM’s economic substance legislation to partnerships for accounting periods from 1 July 2021.

On 29 April 2021, HMRC issued a consultation document for the introduction of a Residential Property Developer Tax (RPDT) on corporates.

The Office of Tax Simplification (OTS) published its second review of Capital Gains Tax (CGT).

The Office for Tax Simplification (OTS) has set out the scope of a review into the benefits, costs and wider implications.

The Supreme Court has delivered its eagerly anticipated decision in Tooth v HMRC [2021].