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In brief

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08 December 2015
Issue: 45230 / Categories: News

Budget; Ingenious appeal; Finance Bill; VAT gap; Taskforce

Budget

The chancellor of the exchequer will deliver the next budget on 16 March 2016.

 

Ingenious appeal

The Court of Appeal has granted the investors in Ingenious Media Film partnership schemes the right to appeal against the decision of the High Court dismissing their application for judicial review of partner payment notices. The hearing is expected to take place towards the end of 2016.

 

Finance Bill

HMRC have provided a collection of supporting documents for Finance Bill 2016. The following three measures cover corporation tax and have effect from 25 November 2015: capital allowances and leasing – anti-avoidance; loans to participators trustees of charitable trusts; and related party rules partnerships and transfers of intangible assets. See here.

 

VAT gap

HMRC’s preliminary estimate of the UK’s 2014/15 VAT gap is 10.4% (£13bn) down from 11.1%...

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