Weekly tax brief | 6 July 2021

Will ‘the right companies pay the right taxes in the right places’?
George Bull
The last month has seen dramatic progress towards a global regime for taxing corporate profits, with the largest corporations having to pay tax on a proportion of their profits where they arise, as well as the introduction of a global minimum tax rate. However, there is still a long way to go. Bumps are beginning to appear in the road ahead.

Coronavirus travellers face SDLT surprise
Chris Etherington
Following the Prime Minister’s announcement that restrictions in the UK are set to be lifted, individuals who have stayed outside the UK during the pandemic may decide that now is the right time to return. They may however be in for an SDLT surprise as additional tax could be due if they buy a property.

Your friendly neighbourhood taxman?
Sarah Saunders
HMRC is researching how to improve its relationship with the wealthy and their agents, hoping to increase tax compliance. Would a less confrontational stance help everybody?

HMRC defeated by taxpayer in child benefit case
Joan Foster
The Upper Tribunal has found that HMRC does not have the power to issue discovery assessments to collect unpaid high-income child benefit charges. This could affect thousands of taxpayers, as it sets a binding precedent, meaning HMRC will be forced to cancel similar assessments. 

Don’t get ripped off, check what a ‘deed of assignment’ for a tax repayment covers
Sarah Saunders
Some tax refund companies are collecting more fees that they should. People need to be sure what they are signing over.

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