The First-tier Tribunal (FTT) decision in Ingenious Games LLP and Ors v HMRC has been released. The decision relates to tax arrangements involving film partnerships, which were subject to a lot of high-profile media coverage. The FTT has effectively rejected the taxpayers’ appeal. We are currently analysing the decision (which is 342 pages long) and will be featuring more detailed coverage of this case in next week’s Tax Matters Digest.
HMRC have published a summary of responses given to the consultation on simplifying the Gift Aid Small Donations Scheme (GASDS), which closed on 1 July 2016. As a result of this consultation, the Government has proposed actions, including the removal of both the two-year eligibility rule and the Gift Aid history requirement, both of which were seen to stand in the way of many charities being able to make a claim.
KPMG’s BEPS Action 4 diary has been updated with more questions and answers from our webinar last month.
July showed solid sales growth in defiance of consumer surveys suggesting a post-referendum slowdown, with online sales stealing the show, according to the British Retail Consortium and KPMG in the UK’s Retail Sales Monitor and Online Retail Sales Monitor.