Legal News

Tax weekly highlights—21 January 2021

Tax weekly highlights—21 January 2021
Published on: 21 January 2021
Published by: LexisPSL
  • Tax weekly highlights—21 January 2021
  • In this issue:
  • VAT
  • Loan broking structure fails to remove irrecoverable VAT cost (Wilmslow Financial Services plc (in administration) v HMRC)
  • 2020–21—Budget and Finance Bill
  • CIOT publishes Budget representations on taxation of property income, corporation tax and CGT
  • Commons Treasury Committee holds evidence session on ‘tax after coronavirus’
  • International
  • Court of Justice rules on assistance in collection requirements (Maksu-ja Tolliamet v Heavyinstall OU)
  • UK/Germany 2020 Protocol and Joint Declaration published
  • More...

Article summary

This week’s edition of Tax highlights includes: (1) the FTT’s decision in Wilmslow Financial Services plc that a structure designed to avoid irrecoverable VAT being suffered on advertising services for a loan broking business failed to achieve its desired effect, (2) the CIOT’s Budget representations on taxation of property income, corporation tax and CGT, and (3) the Court of Justice’s decision in Maksu-ja Tolliamet v Heavyinstall OU that when acting on a request for assistance in collection of taxes, the requested state is bound by the assessment of the factual and legal factors made by the requesting state, and cannot make those assessments for itself. or take a trial to read the full analysis.

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