The IRS have updated their
country by country reporting jurisdiction status table
to show that an agreement has been signed between the US and the UK to automatically exchange country by country reports. The agreement itself has not yet been published – we will provide a further update when this is available.
HMRC’s Orchestra Tax Relief manual has been
with a new section on the anti-avoidance provisions of the new rules. The new section makes it clear that the relief is aimed solely at Orchestral Production Companies (OPCs), and is not available to those whose involvement in orchestral concerts is confined to supplying or arranging finance.
HMRC have confirmed they will continue with their risk-based approach to PAYE penalties for the 2017/18 tax year, including the three day easement. For more information, see our article on
KPMG Employers’ Club
commissioned by KPMG in the UK reveals that although 45 percent of EU citizens working in the UK plan to stay, 35 percent are considering leaving and 8 percent have already made up their minds to go. When extrapolated across the UK’s entire EU workforce, that’s a group equivalent to almost 1 million potential leavers, or 3.1 percent of the UK’s national workforce.
From 29 August 2017 consumers will have exactly two years to
claim payment protection insurance (PPI)
but whilst an end is in sight for PPI, the rise of digital banking presents a host of new challenges to protecting customers, and bank balance sheets, according to KPMG in the UK.