The Upper Tribunal held in Farnborough Airport that the appointment of a receiver constituted “arrangements” which broke the group relationship with the result that group relief could not be surrendered. The much-awaited draft guidance on penalties for enablers of defeated tax avoidance is published and offers some comfort to those advising on genuine commercial arrangements. In its third annual report on the banking code, HMRC continues to be pleased with the positive impact on banks’ behaviour. In a recent business brief, HMRC announces a change from 1 January 2018 in the VAT treatment of management services provided by insurers to defined benefit pension schemes.
This article was first published in the 10 November 2017 edition of Tax Journal
