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GAAR panel
The interim members of the general anti-abuse rule advisory panel are: Graham Aaronson QC (chairman), John Barnett, John Bartlett, Emma Chamberlain, Rob Clayton, Bill Dodwell, Steve Edge, Francesca Lagerberg, David McNair, Richard Murphy, Gary Richards and Tim Voak. The appointments will last until 31 March 2013.
RPI
The value of the retail prices index for November and December 2012 was 245.6 and 246.8 respectively.
IHT manual
HMRC’s Inheritance Tax Manual has been updated to highlight a change in the department’s thinking on specialty debts. The manual also confirms that the Revenue will deny claims to substitute a higher sale value for land or buildings sold within three years of the date of death.
Bahrain DTA
The first time double taxation agreement between the UK and Bahrain, which was signed in Manama on 10 March 2010, entered into force on 19 December 2012.
Isle of Man
The Isle of Man’s Treasury Minister has signed double taxation agreements (DTAs) with Jersey and Guernsey in London, and now has eight DTAs and 27 tax information exchange agreements that meet the OECD international standard on tax cooperation and transparency.
NMW
HMRC have published a briefing on the national minimum wage.
