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Incentives Bulletin - October 2020 UT reverses FTT decision; right to acquire securities option;  SAYE guidance; HMRC publishes research into tax-advantaged share schemes; GAAR Advisory Panel opinion; Spotlight 56; UT reverses FTT decision and determines when a right to acquire secur... International Tax Competitiveness Index 2020: the results are in The Tax Foundation has published the International Tax Competitiveness Index 2020 which assesses the relative competitiveness and neutrality of OECD nations’ tax system by looking at 40 tax policy variables across five categories. In the overall ran... Competition & Regulatory Newsletter General Court partially annuls inspection decisions in French supermarkets investigations On 5 October 2020 the General Court partially annulled 2017 European Commission inspection decisions in relation to an investigation into potential anti-competitive... Brexit preparedness check: customs and trade in goods The briefing, produced jointly by the Best Friends group of BonelliErede, De Brauw Blackstone Westbroek, Hengeler Mueller, Slaughter and May and Uría Menéndez, provides an overview of the anticipated arrangements for the movement of goods be... New credit checks needed? Changes to the UK Government’s CCFF scheme to support large businesses On Friday HM Treasury and the Bank of England announced some important changes to the Covid Corporate Financing Facility (CCFF) that apply with immediate effect. The details of the changes are set out in the Bank of England’s updated ‘question... OECD pushes back deadline for international tax reform The OECD has published blueprints for a solution to the tax challenges arising from the digitalisation of the economy and acknowledged that a multilateral, consensus-based solution will not be agreed by the end of 2020. The blueprints will be presented to... Individuals not off the hook - sponsor principal banned for five years for failing to discharge supervisory duties Client briefing on the Securities and Futures Appeal Tribunal’s decision to prohibit a sponsor principal from re-entering the industry due to breach of supervisory duties. A few years after CCB International Capital Limited (CCBIC) and BOCOM Intern... United Biscuits’ hopes of a VAT refund crumble The CJEU has held in the United Biscuits case that pension fund management services provided to occupational pension schemes are not within the VAT exemption for insurance transactions. This is bad news for United Biscuits and the other taxpayers with his... Tax and the City Review for October 2020 Mike Lane and Zoe Andrews look at the decisions in McCabe and Newey; HMRC statistics; ESMA recommendations; and plans for an EU-wide system for withholding tax relief at source. The Upper Tribunal confirms in McCabe that arguments made by HMRC as part o... The UK's green gas levy proposal The UK currently has the second lowest gas prices compared to other countries in the EU15. In contrast, the UK’s electricity prices are the highest for both industrial electricity prices and domestic electricity prices among the EU15, largely d...