A round up of other news this week.
HMRC have published a tax information and impact note (TIIN) which specifies amendments to provide double taxation relief from 1 January 2016 in respect of the UK bank levy and contributions made to the EU Single Resolution Fund. An accompanying draft Statutory Instrument, The Bank Levy (Double Taxation Relief) (Single Resolution Fund Levy) Regulations 2016, has also been published.
A recent First-tier Tribunal decision in The Crown and Cushion Hotel (Chipping Norton) v HMRC considered whether sponsorship payments were made wholly and exclusively for the purposes of the trade under s54 CTA 2009, with the taxpayer’s appeal being allowed.
KPMG in the UK’s BEPS Action 4 diary has been updated with a post on the US 385 Regulations, which set out new rules in relation to the US tax treatment of certain related party debt.
The Building Trust in Analytics report found that most UK business leaders believe in the value of using data and analytics (D&A), but say they lack confidence in their ability to measure the effectiveness and impact of D&A, and mistrust the analytics used to help drive decision making: