Tax First June: News, events and change in tax

 

Our Tax First newsletter provides tax professionals with a round-up of the past month's major financial news and a calendar of useful diary dates.

 

In this June edition of Tax First we start off by highlighting PwC’s client tax training workshops. These full and half-day workshops are aimed at tax professionals who might need a refresher on the increasingly complex UK tax system. You can read more about these sessions on our website here.

 

Our Indirect Tax Forum events also begin again this month, with forums taking place across the country. Our London session on 15 June 2011 includes a presentation by Werner Blockmans from the EU Commission, who’ll be discussing the Green Paper 'On the future of VAT - Towards a simpler, more robust and efficient VAT system’. You can register for these events on our website here.

 

This edition also outlines several VAT issues which are of interest to pension funds. These include an opportunity to mitigate VAT on investment management and also highlight the potential penalties that your pension fund could incur for non-compliance.

 

The Organisation for Economic Cooperation and Development (OECD) has published a discussion draft which proposes amendments to the guidance on the OECD Model Tax Convention. We outline the aims behind these proposals and explain where they could prove to be problematic.

 

The Upper Tribunal has passed judgement in the First Nationwide case - this will be significant if you’re looking to make a payment to one or more shareholders etc. which is not obviously a dividend for UK tax purposes. We look at the potential effect of this decision for your organisation. To round off this issue, we highlight HM Revenue & Customs’ pilot scheme on Alternative Dispute Resolution, an attempt to provide a different way of resolving open issues.