HMRC has reportedly brought its first-ever corporate prosecution under the failure to prevent the facilitation of tax evasion offence, almost eight years after the legislation was introduced in the Criminal Finances Act 2017....more
HMRC have announced a change to VAT policy to allow employers of defined benefit pension scheme to recover up to 100% of VAT on pension scheme investment costs. Employers and pension scheme trustees may need to consider...more
In Boehringer Ingelheim Limited v HMRC, the First Tier Tribunal (FTT) held that rebates paid by the taxpayer to the Department of Health and Social Care (DHSC), under the UK voluntary scheme for branded medicines sold to the...more
Businesses moving goods to or from Great Britain will face new compliance burdens. EU businesses making sales to UK customers may have to register for UK VAT for the first time....more
What is the Profit Diversion Compliance Facility?
What the PDCF does -
The facility is a mechanism that multinational firms can use to settle potential tax liabilities for past years that remain open. It relates to...more
The UK tax authority, HMRC, recently announced the introduction of a new Profit Diversion Compliance Facility, which is aimed at tackling the avoidance of tax by diverting profits outside the UK without proper economic...more
HMRC has announced today the introduction of a new Profits Diversion Compliance Facility, which is aimed at tackling the avoidance of tax by multinationals by diverting profits outside the UK without proper economic...more
HMRC announced today the introduction of their new Profits Diversion Compliance Facility (PDCF). This is a way for multinationals to take the initiative and explain their legal and operational structures before HMRC launch...more
After much speculation, UK Chancellor Philip Hammond announced today in his annual budget speech that the UK will introduce a Digital Services Tax (DST) with effect from April 2020. ...more
The Chancellor of the Exchequer’s statements of intent on a digital service tax and competition law reforms reinforce other recent indications that the UK government is looking seriously at making significant changes to the...more