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Welcome to April’s edition of our UK Tax Round Up. This month has seen a number of interesting cases highlighting the need for taxpayers and HMRC alike to apply a realistic approach to. ....
VAT incurred on corporate advisory fees not recoverable - In Ince Gordon Dadds LLP v HMRC, the First-tier Tribunal (FTT) has decided that Ince Gordon Dadds LLP (formerly. ....
The UK Government has published the final version of regulations on 17 January 2023 that will give effect to the UK’s mandatory disclosure rules (“UK MDR”). The International Tax. ....
Cross-border tax avoidance arrangement disclosure rules devised by the OECD (known as the mandatory disclosure rules, or MDR) will enter into force in the UK on 28 March 2023. Arrangements entered into on or after this date must be reported to HMRC under this regime. ....
Europe: UK to repeal DAC6 reporting rules Following the signing of the EU–UK Trade and Cooperation Agreement on 30 December 2020, the UK Government has announced that it will cease to participate in the EU mandatory disclosure regime known as DAC6, for which reporting was due to commence from January 2021. The UK will implement a lighter reporting regime based on the OECD s Mandatory Disclosure Rules ( MDR ) set out in BEPS Action 12. As a transitional measure with immediate effect, DAC6 reporting will only be required for certain specific arrangements concerning automatic exchange of information and beneficial ownership. 207 In brief Following the signing of the EU–UK Trade and Cooperation Agreement on 30 December 2020, the UK Government has announced that it will cease to participate in the EU mandatory disclosure regime known as DAC6, for which reporting was due to commence from January 2021. The UK will implement a lighter reporting regime based on the OECD ....