Tax First October: 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.

 

We start off this October edition by looking at the proposed European Union financial transactions tax (FTT). The draft directive has been released by the European Commission and we explain the potential effect on tax policy and the impact on the financial sector. We also highlight the news that HM Treasury has abandoned the tax treaties anti-avoidance proposals which we mentioned in our September edition.

 

If your business offers hire purchase contracts, a potential opportunity has been created following the First-tier Tribunal decision in the Volkswagen Financial Services UK Limited case. We outline how you could make a retrospective claim.

 

If you’re involved in resolving a tax dispute with HM Revenue & Customs (HMRC), this can be a time-consuming and costly process. We update you on Alternative Dispute Resolution (ADR), HMRC’s new process, in the form of mediation, to improve the procedure for resolving a dispute.

 

We’ve just released the findings of our survey into FTSE 350 executive pay. Of the senior reward professionals we spoke, 79% expected executive pay to rise in 2012 - an increase which will cause concern at a time when the gap between high and low earners is getting ever wider.

 

To round off this edition, we remind you about our continuing ICTA series of events. This month, we cover the changes affecting permanent establishments in the financial services sector and asset finance and leasing. You can register for the events here. We’re also running a UK Financial Services Tax Forum event on 14 November, which you can register for here.