Other news in brief | KPMG | UK

Other news in brief

Other news in brief

A round up of other news this week.

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The OECD has launched a Business Survey inviting businesses and other stakeholders to contribute their views on tax certainty to help support the G20 future tax policy work.  The survey will be open until 16 December 2016 and individual responses will remain confidential with results expected to be made available in aggregated format and presented to the G20 in 2017.  Businesses are encouraged to take part in the survey which has the potential to generate valuable information and influence future policy direction.

Panama has signed the OECD’s Multilateral Convention on Mutual Administrative Assistance in Tax Matters, making it the 105th jurisdiction to join.

HMRC circulated an early draft of their revised guidance on the Disguised Investment Management Fee (DIMF) rules and capital gains tax carried interest rules to a number of stakeholders. The document has not been subject to a full review by HMRC, and while it is not expected that the core areas of HMRC’s views will change, HMRC have made clear that the guidance may evolve and change as it is tested and reviewed in detail, and that in cases of doubt it will be necessary to refer to the legislation. Notwithstanding this, the guidance is designed to give stakeholders an indication of HMRC’s thinking on a number of the issues that have been raised in relation to the application of the rules. If you would like a copy of the draft guidance please get in touch with your usual KPMG contact.

HMRC have published a new factsheet about warning notices given under the serial tax avoidance legislation, where a warning notice may be issued to a taxpayer if HMRC defeats a tax avoidance scheme that they have used, or that has been used by a partnership they are a member of, a company within their company group, or an associate of theirs. 

HMRC have published the results of research on the use of third party information, namely bank and building society savings interest data, in updating tax codes. The research aimed to provide insight into customer views, attitudes and behavioural changes.  The research will in part inform HMRC’s Making Tax Digital proposals.

The latest report by KPMG in the UK into collaboration in UK healthcare reveals concerns over leadership in the NHS.

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