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 Government has published its anticipated white paper on its plans for Brexit, titled The United Kingdom's exit from and new partnership with the European Union.

In order for the Scottish Budget to pass the first stage of the legislative process, the minority Scottish Government has reached a deal with the opposition Green Party that the higher rate threshold for Scottish taxpayers will remain frozen at £43,000 for the 2017/18 tax year. The Scottish Finance Secretary's original proposal in the draft budget, as presented on 15 December 2016, had been to increase the higher rate threshold for Scottish taxpayers to £43,430 in 2017/18.  This contrasts with a higher rate threshold of £45,000 for other UK taxpayers from 6 April 2017.

The OECD have released documents which will form the basis of the peer review of Action 13 Country-by-Country Reporting and for the peer review of the Action 5 transparency framework.

The next tranche of Mutual Agreement Procedure (MAP) peer reviews under Action 14 of the BEPS Action Plan has been launched, covering Austria, France, Germany, Italy, Liechtenstein, Luxembourg and Sweden.

HMRC have published guidance for charities on creating Gift Aid declarations for their donors as intermediaries.

The Tax Matters Digest consultation tracker for February can be found here.

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