Tax weekly highlights—15 April 2021

Published on: 15 April 2021

Published by: LexisPSL

Tax weekly highlights—15 April 2021
In this issue:
Companies and corporation tax
UT rules on construction of closure notices (Daarasp LLP and Betex LLP)
Finance Bill 2021
Government tables amendments to Finance Bill 2021 clauses on hybrids and SDLT Freeport relief
International
US announces new approach to BEPS 2.0
US outlines Made in America Tax Plan proposals
OECD publishes report on latest international tax developments

More...

Devolution
CIOT and ICAS call for increased awareness of devolved taxes in Scotland
Coronavirus (COVID-19)
Treasury Direction modifies and extends the SEISS
HMRC updates CJRS guidance
Taxes management and litigation
HMRC issues stakeholder digest
VAT
HMRC updates guidance on the penalties under the new VAT deferral payment scheme
European Commission opens feedback period on VAT exemption for vital goods and services distributed in times of crisis
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Article summary

This week’s edition of Tax highlights includes: (1) the UT’s decision in Daarasp LLP and Betex LLP that HMRC was entitled to argue that the taxpayers did not qualify for capital allowances, and that it was not precluded from doing so by the terms of its closure notices, and (2) amendments to the Finance Bill 2021 clauses on hybrids and SDLT Freeport relief. Sign in or take a trial to read the full analysis.