HMRC has announced the second phase of a consultation on the tax deductibility of corporate interest expense, which will look at the detailed policy design and implementation of new rules designed to bring the UK in line with the OECD’s Base Erosion and Profit Shifting (BEPS) project and address aggressive tax planning by multinational companies (MNCs) 

The Budget 2016 brought good news for owner managers and shareholders in private trading companies, says Peter Rayney, who considers the new tax breaks as capital gains tax (CGT) was cut by 8% bringing the new rate down to 20%

A move to curb the use of shareholder and directors' loans under section 455 of CTA 2010 will raise the tax liability for directors, warns Cathy Corns, corporate tax partner at Mercer & Hole. Find out how the changes will hit company owners with a selection of worked examples

A group of influential tax and policy-making institutes have set up a taskforce to review tax policy processes in a bid to force the government to review its complex and oftentimes incoherent tax policy, and improve transparency over the consultation process when new tax measures and draft law is proposed

The Court of Appeal has ruled in favour of HMRC in a £27m tax avoidance case involving the Bank of Ireland, which was described as trying to exploit a loophole that did not exist, in a transaction involving its subsidiary Bristol & West that took place in 2003

Charity subsidiaries with negative reserves must take care over Gift Aid payments to a parent charity or risk an unwelcome liability down the line if there is a shortfall in distributable profits, says charity expert Pesh Framjee, head of not for profit and partner at Crowe Clark Whitehill

Eclipse loses Supreme Court appeal, private residence and lettings relief denied in Kothari, EIS relief disclosure notices overturned, UK intermediaries swept into Panama Paper leaks and EU plans for country-by-country reporting (CBCR)

The chief executives of 17 charities and campaign groups are calling on the PM to speed up plans to launch a public register of beneficial ownership to encourage greater transparency and shed a light on complex offshore ownership structures 

Initial proposals to launch EU wide country-by-country reporting requirements for multinationals with turnover in excess of €750m raise concerns for big business as they will have to report corporation tax in isolation to their wider tax liability, says Bill Dodwell, head of tax policy at Deloitte 

Taking advantage of business investment relief is a useful tool for non doms wanting to invest with offshore funds, but few realise the tax advantages, says Andy Wood, director at the Enterprise Tax Centre

The Agent Online Self Serve (AOSS) has been rebranded as Agent Services (AS), a new name which HMRC say better reflects the scope of what it aims to deliver under plans for new digital services for agents

The UK has joined forces with 19 European countries and the British overseas territories of Anguilla and Montserrat in the Caribbean, to issue a joint statement callng for rapid adoption of the automatic exchange of beneficial ownership information