In brief

Happy Christmas!

Everyone at Taxation wishes readers a very merry Christmas and a happy new year.The next issue of Taxation will be published on 4 January 2018.

Spring statement

The government will publish the spring statement on 13 March 2018.

VAT

HMRC has revised its policy on zero rating for the construction of residential buildings when part of an original building is retained. This follows the Upper Tribunal decisions in Astral Construction Ltd  Boxmoor Construction Ltd and J3 Building Solutions Ltd. See VAT Information Sheet 7/2017: construction services and zero-rated relief .

BEPS

The Organisation for Economic Co-operation and Development has released the first analysis of individual countries’ progress on exchanging information on tax rulings in accordance with action 5 of the base erosion and profit shifting (BEPS) project. See here.

Reporting measures

The inclusive framework on BEPS has updated the guidance on country-by-country reporting...