The European Council has adopted a directive to crack down on corporate tax avoidance by large companies and their subsidaries including interest deductibility and exit taxation rules under new rules set to come into force by 2018

The EU and Monaco have signed a tax transparency agreement to automatically exchange information on the financial accounts of each other's residents from 2018

Westminster has passed a major milestone in the transfer of new powers to Holyrood under the Scotland Act 2016, meaning that for the first time the Scottish parliament will be able to legislate to tailor the welfare system to reflect local needs, including the ability to create entirely new welfare benefits in areas of devolved responsibility

HMRC has admitted it faces a challenge in building confidence and trust in its services, particularly among the agent community, after its annual customer survey showed that three quarters believe it takes too long to provide responses.

HMRC’s latest accounts show the tax authority brought in record total tax revenues for the sixth consecutive year of £536.8bn, and exceeded its target for securing additional compliance revenues but concedes that in the first part of the year, service levels were substantially below targets on both customer calls handled and post turnaround times

A winding-up petition has been issued by HMRC to Welsh football club Port Talbot Town

Treasury financial secretary David Gauke has been promoted to chief secretary to the Treasury in PM Theresa May's new cabinet as local government and communities minister Greg Clark has been handed the post of secretary of state for business, energy and industrial strategy replacing Sajid Javid in the newly expanded business department

The Leader of the House has confimred that the Finance Bill will be delayed until after the summer recess and that the remaining stages of the comittee procedure have been provisionally scheduled to take place on Monday 5 September

The European Parliament has announced the details of its new committee of inquiry into money laundering, tax avoidance, and tax evasion (PANA), set up to investigate alleged contraventions and maladministration of EU law in this area in the wake of the leak of the Panama Papers 

The latest list of tax defaulters is topped by a goods delivery company that owed £3.6m in unpaid tax, while other offenders include a Subway sandwich franchise shop and a financial services company

HMRC’s plans to make employers and engagers responsible for operating new intermediaries legislation and determining whether workers using Personal Services Companies (PSCs) are paying the correct level of tax have come under fire in research commissioned by the department

HMRC has issued guidance on tax avoidance schemes, advising on partnership follower notices and accelerated partner payments as well as including information on penalties for late payments