A Conservative Club on the Isle of Wight faces repaying some £17,000 after a First Tier Tribunal (FTT) ruled that membership fees were not exempt from VAT, in a ruling which may see political clubs across the country facing similar bills

A senior HMRC executive has called for the OECD to update its transfer pricing guidelines as part of its Base Erosion and Profit Shifting (BEPS) project, saying they need to keep pace with the way businesses operate in the modern economy, and are essential to tackling tax avoidance

Northern Ireland's newly appointed finance minister, Máirtín Ó Muilleoir, the first Sinn Fein politician to hold the post, has indicated that the planned cut in corporation tax is not a ‘done deal’ and remains in the balance, saying it may not happen on grounds of affordability

Plans to introduce devolved tax powers for Wales are likely to come into force later this year, giving the Welsh control of a share of the nation’s £4.5bn annual tax take

A shortage of skilled IT specialists and outstanding questions about the future IT model when HMRC replaces the annual £700m CapGemini Aspire contract with the cheaper Columbus setup from 2017, are key risks for the tax authorities

West Bromwich building society will record a loss for the financial year after paying out £27.5m to thousands of buy-to-let (BTL) landlords  following a Court of Appeal ruling that it was not legally entitled to vary their tracker mortgage interest rates without a change in the Bank of England base rate

HMRC risks failing to collect £653,000 of tax from Michael Mabbutt, a participant in a tax avoidance scheme after sending out an enquiry notice which has been declared invalid by a tribunal because it mistakenly referred to a non-existent tax year

MEPs have voted to support a European Commission proposal for an EU anti-tax avoidance directive based on the OECD’s Base Erosion and Profit Shifting (BEPS) action plan, and have indicated they want to push for stricter limits on deductions for interest payments and tougher rules on foreign income

The European parliament has set up a 65-strong committee of MEPs to probe the Panama Papers revelations into the use of offshore companies and their ultimate beneficiaries, in light of widespread contravention of existing EU directives

HMRC is attempting to force its legal battle over a £97m VAT repayment claim from betting operator Sportech into extra time, by applying directly to the Supreme Court for permission to appeal the most recent judgment in the long running ‘Spot the Ball’ case

HMRC has opened a consultation on renewing and extending the scope of the Double Taxation Treaty Passport (DTTP) scheme, to ensure it still meets the needs of UK borrowers and foreign investors and to see if it should be offered to sovereign investors, pension funds and other entities

Businesses will face an increase in financial and administrative burdens under proposals for UK rules on interest deductibility in light of OECD BEPS rules, says Daniel Head, partner of the global transfer pricing services team at KPMG