Tax

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Tax | IRS updates FATCA filing and deadlines

The US Internal Revenue Service (IRS) has launched an update to its registration system for foreign financial institutions (FFIs) to comply with the Foreign Account Tax Compliance Act (FATCA) in supplying reports on the holdings of US citizens, and announced a new filing deadline for US taxpayers overseas affecting 225,000 US citizens in the UK

Tax | Register: tax limbo in a post-election world

In the days after the election and resulting hung parliament, tax issues will hardly be top of the agenda for the government, which will stoke uncertainty for tax advisers facing the impending introduction of Making Tax Digital and a raft of tax measures from loss relief to interest deduction only in draft form. Dawn Register, tax dispute resolution partner at BDO calls for swift action to create tax clarity for business

Tax | Tax avoidance: distributions, dividends and anti-phoenixing rules

In HMRC's ever growing arsenal of anti-avoidance measures, the targeted anti avoidance rule (TAAR) can only apply if the taxpayer is liquidating and not selling their business, explains Pete Miller, director of The Miller Partnership, but advisers and businesses need to make sure they understand the potential tax liability of capital distributions
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