A round up of other news this week.
HM Treasury has extended the deadline on the call for evidence on the taxation of employee expenses. Due to the general election, the deadline for responding has been extended from 12 June to 10 July 2017. We are responding to this call for evidence and require your help! We have built a quick online survey and we would be grateful if you could provide 10 minutes of your time to complete it here. The more businesses that participate, the better the quality of the information we can present and the more robust the insight we can provide to ensure that tax relief for employee expenses is properly tailored to the modern world of work.
HMRC have published the Orchestra Tax Relief manual providing guidance on the operation of the new relief for production companies staging orchestral concerts.
The OECD has launched a disclosure facility on the Automatic Exchange Portal which allows interested parties to report potential schemes to circumvent the Common Reporting Standard (CRS).
Kuwait has signed up to the OECD's Multilateral Convention on Mutual Administrative Assistance in Tax Matters.
KPMG in the UK’s next webinar in the Tax Matters Briefings series will cover the new rules which will restrict the amount of profit that can be relieved by carried forward losses to 50 percent and introduce group relief for carried forward losses. Although these rules have been removed from the Finance Bill, we anticipate that they will still come into effect on 1 April 2017 so companies need to get to grips with them now. Register here.
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