Plans to reform the rules governing the taxation of close company loans to their participators are still under review and, in the latest twist, HMRC has written to CIOT asking for further information about its concerns raised during last autumn’s consultation, Reform of close company loans to participators rules

HMRC has published revised draft Finance Bill 2014 legislation and a revised explanatory note about salaried members as well as a related Tax Information and Impact Note (TIIN)

The government has announced a £27.7m package for over 50 projects designed to create jobs and apprenticeships in coastal towns across the country, including areas affected by the recent floods

HMRC has published its first official brief on the tax treatment of activities involving Bitcoin and other similar cryptocurrencies, confirming that they will be exempt from VAT

The government has rejected a number of recommendations from a recent Public Accounts Committee (PAC) report looking at HMRC’s approach to tax collection and has indicated its support for the tax authority's collection methods.

The Treasury has announced the date for the publication of the Finance Bill, which makes the tax proposals announced in the Budget into law

Uncertainty continues to surround planned changes to the taxation of limited liability partnerships (LLPs) which will come into force on 6 April, although HMRC has published a revised technical note and guidance on the new regulations, which are designed to tackle the issue of ‘disguised self employment'

Standard and Poor (S&P), the ratings agency, has issued a report on the financial stability and credit worthiness of Scotland post-indendence, which says the country faces ‘significant, but not unsurpassable’ challenges if it decides to go it alone, and claims ‘there is no fundamental reason why Scotland could not successfully float a currency’.

The Supreme Court has rejected HMRC’s argument in a major National Insurance (NI) test case that a single employer pension contribution to a Funded Unapproved Retirement Benefits Scheme (FURBS) was a payment of ‘earnings’ and should have been subject to National Insurance Contributions (NICs) liability.

Business leaders have much more clarity about cross-border tax planning issues, including the impact of potential reforms to transfer pricing than a year ago, and are implementing new processes to work within the rules, according to research from Grant Thornton.