Tax Insider Tip: Not Clear! ‘Business’ And Incorporation Relief
Unsurprisingly, HMRC will not ‘approve’ tax planning arrangements or give advice on the tax treatment of transactions which HMRC considers are for tax avoidance purposes. However, the non-statutory clearance service can be helpful in terms of obtaining certainty about HMRC’s view on proposed transactions. It is therefore unhelpful that HMRC announced in April 2018 further circumstances in which it will not give assistance.
In October's issue of Tax Insider, Mark McLaughlin points out a change of HMRC practice that may cause uncertainty for some taxpayers and many landlords in particular.
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