December 2012


 Government to introduce new TAARs 

 Accountant jailed for fiddling VAT 

 Consultation: FRC publishes consultation proposals on the draft Auditor Regulatory Schemes 

 Fourth arrest in Olympus mega-fraud 

 Insolvency practitioners face reform of fee structure 

 Accountants beat banks as most trusted source of advice 

 Prince Charles wants accountants to recognize environmental and social factors 

 Consultation on the withdrawal of the VAT exemption for research 

 Streamlined Gift Aid for charity shops 

 Treasury waives VAT on Hillsborough single 

 IASB maps out future programme 

 Female board director numbers up 

 HMRC announces settlement scheme 

 VAT: taxation of telecommunications, broadcasting and electronic services 

 SI 2012/3111 - Tax Treatment of Financing Costs and Income (Correction of Mismatches: Partnerships and Pensions) Regulations 2012 

 FSA fines UBS £160m over LIBOR rate rigging scandal 

 Case Report: R (on the application of the Company of Proprietors of Whitchurch Bridge) v HM Treasury [2012] EWHC 3579 (Admin) 

 Deadline looms for Machine Games Duty registration 

 NAO slams HMRC for poor & expensive customer service 

 Statutory Residence Test draft guidance published 

 Case Report: Saund [2012] TC 02400 

 Final HMRC warning to UK Swiss bank account holders 

 HMRC in Zen-like ad blitz 

 Summary of Responses: Proposed changes to VAT invoice rules 

 24 carat criminal jailed for gold smuggling VAT scam 

 Big Four date for PAC grilling ‘not before March 2013’ 

 Last orders for pub empire boss in £1m tax debt rap 

 US still not ‘on board’ with IFRS 

 Draft legislation for Finance Bill 2013 

 11 nation coalition receives EU Parliament's all clear for a financial transaction tax 

 Case Report: BW Male & Sons Ltd [2012] TC 02383 

 Case Report: Cornwallis Care Services Ltd [2012] TC 02388 

 Case Report: Franco Vago UK Ltd [2012] TC 02386 

 Case Report: Gardiner [2012] TC 02390 

 House of Lords issues report on EU banking union day before EU Summit 

 FRC tribunal for Farepak director 

 HSBC fined £1.2bn over drugs & al-Qaeda money laundering  

 X Factor charity single to avoid VAT charge 

 Guernsey’s zero-10 regime given EU’s final seal of approval  

 Draft Finance Bill 2013 published for consultation 

 Civil penalties of up to £50,000 for dishonest conduct by tax agents  

 Case Report: Smith [2012] TC 02380 

 EU pensions plans a recipe for job losses & economic damage - CBI  

 Case Report: R (on the application of TNT Post UK Ltd) v R & C Commrs [2012] EWHC 3380 (Admin) 

 Big Four set to be called up by PAC  

 Case Report: Reid v R & C Commrs [2012] UKUT 338 (TCC)  

 Fishy business lands £1m VAT fraudster in jail  

 Garlic smuggler sentenced to six years  

 CCH Tax News: Insight into the Autumn Statement 2012  

 EC gets tough on tax evasion and avoidance  

 HMRC Notice 700/09 Transfer of business as a going concern  

 Starbucks says it will pay £10m more UK tax  

 UK and Isle of Man to sign enhanced tax information exchange agreement  

 HMRC insider among 14 jailed for tax fraud  

 Accountancy AS 2012: HMRC to invest in fighting transfer pricing  

 Accountancy AS 2012: Government rules out plan B  

 Accountancy AS 2012: CT to go down to 21%  

 Accountancy AS 2012: AIA to go up to £250K  

 SEC charges auditors with SOX violations  

 Consultation: IASB publishes proposals for amendments to IAS 16 & IAS 38  

 Case Report: Total Technology (Engineering) Ltd v R & C Commrs [2012] UKUT 418 (TCC)  

 Case Report: TETS Haskovo AD v Direktor na Direktsia ‘Obzhalvane i upravlenie na izpalnenieto’ – Varna pri Tsentralno upravlenie na Natsionalnata agentsia za prihodite (Case C-234/11)  

 Case Report: Silber (personal representative of the estate of Lerner deceased) v FOD Financien [2012] TC 02369  

 Case Report: Secret Hotels2 Ltd (formerly Med Hotels Ltd) v R & C Commrs [2012] EWCA Civ 1571  

 Case Report: SC Gran Via Moineşti SRL v Agenţia Naţională de Administrare Fiscală (ANAF), Administraţia Finanţelor Publice Bucureşti Sector 1 (Case C-257/11)  

 Case Report: PDF Electrical Ltd [2012] TC 02375  

 Case Report: Mundays LLP v FOD Financien [2012] TC 02374  

 PAC says HMRC “too passive” with big companies  

 New way to get urgent authority to act for Child Benefit clients  

 New way to claim Gift Aid and Small Donations Scheme payments  

 HMRC uses credit file checks in hunt for tax evaders  

 HMRC to receive £77m in investment from Government to clampdown on tax dodgers  

 Stamp duty avoidance schemes double for £2m-plus homes  

 Case Report: Daimler AG; Widex A/S v Skatteverket   

 Case Report: Southwest Communications Group Ltd v FOD Financien  

 Case Report: Young (t/a The St Helens) 

 Government launches Balance of Competences Review on Taxation 

 European net closing on Google’s tax affairs 

 SI 2012/2951 - Value Added Tax (Amendment) (No. 3) Regulations 2012 

 UK’s FATCA-style approach gets tough on crown dependencies 

 Slow take-up by pubs of Machine Games Duty