The tax institute has raised concerns that the targeted anti-avoidance rule
aimed at the effects on CGT for transactions between spouses could give the
taxman ‘unlimited discretion’ in determining whether a transaction would be
‘The CIoT has asked for HMRC to give examples of acceptable transaction which
would not be caught by the [rule],’ said CIoT’s Emma Chamberlain.
The CIoT argues that new guidance on the policy gives examples of
unacceptable behaviour that ‘does not seem consistent with each other’.
‘[We believe] that the problems with the guidance clearly illustrate the
danger of giving HMRC too wide a discretion to determine whether a transaction
is taxable or not,’ Chamberlain added.
Crowe Clark Whitehill , the top 20 accountancy firm, has announced the promotion of Chris Mould to partner
The latest opinions from Accountancy Age on Making Tax Digital, and outline plans to evolve the UK's corporate governance regime
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy