News: November 2012


 Case Report: MJP Media Services Ltd v R & C Commrs  

 Dormant companies becoming active for Corporation Tax 

 HMRC seeks power to break legal speed limit 

 Tax fraud and evasion top of hit list for EC 

 CBI urges Chancellor to hold steady and spend wisely 

 KPMG & Deloitte face lawsuit over HP’s Autonomy acquisition 

 Case Report: Finanzamt Steglitz v Zimmermann (Case C-174/11) 

 Case Report: R & C Commrs v Volkswagen Financial Services (UK) Ltd [2012] UKUT 394 (TCC) 

 HMRC issues RTI exceptions as deadline looms 

 OECD to consider new international tax rules 

 Case Report: Mednis SIA v Valsts ieņēmumu dienests 

 Employment-Related Shares & Securities Bulletin 

 French govt. on track to legislate against online tax evasion 

 Lower taxes behind UBM’s return to UK 

 Canadian Carney is new Bank of England Governor 

 IIRC sets out prototype for integrated reporting

 HMRC targets tax-evading landlords and rag traders 

 Senior exec avoidance under scrutiny by HMRC 

 Calls for radical IFRS changes 

 ADR trial for SMEs and Individuals accepting applications beyond 30 November 

 Case Report: Finanzamt Hildesheim v BLC Baumarkt GmbH & Co KG Case C-511/10 

 ICAEW in ‘one in, two out’ plea to government 

 Additional draft guidance for CFC reform published for consultation 

 Guidance on the tax treatment of payments to individuals and other non-corporates 

 Guidance on the tax treatment of payments to UK companies 

 Case Report: Scofield [2012] TC 02344 

 Case Report: Okolo v R & C Commrs  

 Australia tax crackdown on multinationals 

 Case Report: Murray Group Holdings and Ors v FOD Financien  

 RTI software approval updates ‘lagging’ 

 PIRC says it had auditor concerns over Autonomy case 

 Senior investors slam IFRS for lacking prudence 

 Case Report: Panesar v FOD Financien 

 HMRC Notice 701/57 Health professionals and pharmaceutical products

 PAC raises concerns with Accenture’s tax payments

 Tax breaks on infrastructure could unlock new growth, says poll

 Equitable Life probe - case closed by FRC

 HMRC must hand back tax

 Case Report: Test Claimants in the Franked Investment Income Group Litigation v IR Commrs Case C-35/11

 IASB hosts public forum to discuss disclosure overload

 Brussels does U-turn on board quota plan

 PAC grilling of US firms’ ‘tax planning’ exhorts MPs ire

 Case Report: Kelcey And Hall Solicitors [2012] TC 02333

 Case Report: DV3 RS Ltd Partnership v R & C Commrs [2012] UKUT 399 (TCC)

 Case Report: Aabsolute Bond Ltd [2012] TC 02343

 BDO poll shows positivity amidst the gloom

 HMRC proposals for allowing extra time to send real time PAYE returns

 HMRC issues tax warning

 HMRC Notice 828 Tariff Preferences: Rules of origin for various countries

 Case Report: Tanjoukian v R & C Commrs [2012] UKUT 361 (TCC)

 Case Report: Explainaway Ltd & Ors v R & C Commrs [2012] UKUT 362 (TCC)

 *Special feature* - Significance of the Protocol to the UK/India Double Taxation Treaty

 Appetite for CFOs to serve on corporate boards on the up

 Auditors find major EU spending errors - again

 FRC publishes lab reports on ‘debt’ and ‘cash flow’

 Ex-KPMG chief defends firm’s audit of HBOS

 No room for FATCA complacency, warns PwC

 Interim committee to take forward GAAR

 France unveils €20bn in tax breaks

 Case Report: Cheshire Employer and Skills Development Ltd (formerly Total People Ltd) v R & C Commrs 2012 EWCA Civ 1429

 Pearson's CFO criticises recent IFRS work

 IASB/FASB convergence a 'failure', says FRC

 Total People succeeds in epic HMRC battle

 Record fuel taxes for UK motorists

 New HMRC guidance on reverse charges at VAT groups

 HMRC’s RTI rolls onto next stage

 HMRC tax assurance commissioner publishes new code

 HMRC admits Government powerless to force multinationals to declare profits

 Case Report: Marcus Webb Golf Professional v R & C Commrs [2012] UKUT 378 (TCC)

 Cigarette smuggling ring smoked out by HMRC

 Disclosure of Tax Avoidance Schemes (DOTAS)

 Commencement of a second project on remuneration reporting

 Exception to the consolidation requirements in IFRS 10 for investment entities

 HMRC issues letters to families affected by Child Benefit changes

 Case Report: Buzzoni & Ors v R & C Commrs 2012 UKUT 360 (TCC)

 Changes to registration procedures for money transmitters

 Draft debt cap regulations on The Tax Treatment of Financing Costs and Income (Capital Market Arrangements) (Elections)

 IFRS Foundation calls for global standard-setters 'forum'