Restricting non-residents' entitlement to the UK personal allowance - CIOT comments

6 Jul 2017

Overview

Personal Tax

Capital Gains Business Asset Rollover Relief Glasgow Grand Prix Income Tax personal allowance for those born after 5 April 1948 and basic rate limit for 2015 to 2016 Increasing pension flexibility Inheritance Tax: liabilities and foreign currency bank accounts Major sporting events: power to provide for tax exemptions New ISA, Junior ISA and Child Trust Fund: increasing the flexibility for savers and investors New ISA, Junior ISA and Child Trust Fund: increasing the flexibility for savers and investors: guidance Pensions liberation Pensions Liberation: guidance note The starting rate of tax for savings The starting rate of tax for savings: guidance Transferable tax allowances for married couples and civil partners

Corporate Tax

Abolition of Stamp Duty Reserve Tax for collective investment schemes Annual investment allowance: increase to £500,000 for extended temporary period Business Premises Renovation Allowance Capital Allowances regime: Mineral Extraction Allowance Capital Gains Business Asset Rollover Relief Chargeable gains rollover relief: reinvestment in intangible fixed assets The Code of Practice on Taxation for Banks Enterprise Zones: enhanced capital allowances Making the Seed Enterprise Investment Scheme and the Capital Gains Tax reinvestment relief permanent Modernising the taxation of corporate debt and derivative contracts: update Small and medium sized enterprises Research and Development Tax Relief Targeted anti-avoidance loss buying rules: exclusion of research and development allowances

Anti-avoidance, Fairness and Planning

Accelerated payments of tax for avoidance schemes Artificial use of dual contracts by non-domiciles Avoidance schemes involving the transfer of profits Avoidance schemes: relevant judicial ruling - notice to settle dispute Guidance on avoidance schemes involving the transfer of corporate profits Tackling aggressive tax planning in the global economy: UK priorities for the G20-OECD project for countering Base Erosion and Profit Shifting Venture Capital Trusts return of capital

Property and Indirect Tax

Aggregates Levy: suspension of exemptions

Aggregates Levy: suspension of exemptions interim guidance - Budget 2014 Air Passenger Duty: banding reform Alcohol duty rates Bingo Duty: reduction in the rate Climate Change Levy: exemptions for energy used in metallurgical and mineralogical processes Exemptions from climate change levy for mineralogical and metallurgical processes guidance Guidance on the abolition of the Schedule 19 Stamp Duty Reserve Tax charge Landfill Community Fund Machine Games Duty: introduction of a new higher rate Taxation of high value UK residential property held by certain non-natural persons Tobacco duty rates VAT: prompt payment discounts VAT: reverse charge for gas and electricity Vehicle excise duty: 40 year rolling exemption for classic vehicles

Tax Administration and Secondary Legislation

Carbon price floor: reform Enhanced capital allowances schemes for energy saving and water efficient technologies Legislative changes from the introduction of the Scottish Rate of Income Tax New ISA, Junior ISA and Child Trust Fund: increasing the flexibility for savers and investors New ISA, Junior ISA and Child Trust Fund: increasing the flexibility for savers and investors: guidance

Additional documents are available form the Gov.UK website here.