Tax voice - June 2018

Welcome to June's edition of tax voice, a monthly round-up of the most important tax news.

Taxing the digital economy in the UK

15 June 2018

What role the UK will play, if any, in the development of the CCTB and CCCTB is unclear with Brexit around the corner. What is more certain though, is that the taxation of the digital economy will continue to be a contentious issue between UK and Europe and the US.

What is the future for the UK’s customs relationship with the EU?

15 June 2018

As the October deadline informally agreed to conclude the UK’s withdrawal agreement from the EU (Brexit) approaches, the UK government has set out its view on customs arrangements post Brexit. This has been joined in the debate by the so-called ‘maximum facilitation’ or Max Fac option.

HMRC's large corporate mailshot focus

15 June 2018

Many larger corporates have in recent weeks received letters from HMRC reminding them of key pieces of legislation that may apply to them, highlighting the fact these measures became effective in 2017.

Offshore assets – HMRC’s knowledge is now power

15 June 2018

HMRC announced its offshore evasion strategy, the aptly named ‘no safe havens’, back in 2013 and since then it has been making this policy a reality. We are now ready to see its full force taking effect.

Inheritance tax simplification could mean action now

15 June 2018

Inheritance tax (IHT), in its current form, has been largely unchanged since it was introduced in 1986. The tax take from IHT is on the rise, largely as a result of property prices, but the freezing of reliefs and allowances has also had an impact, resulting in a doubling of the tax take over the past seven years to reach close to £5bn per annum.