Weekly tax brief | 16 January 2019

Tax return to complete? Same old, same old? Think again!
George Bull
The 31 January 2019 deadline for submitting 2017/18 tax returns to HMRC is just around the corner. If you completed your self-assessment tax return in January last year, chances are you are doing it again this January. But this isn't a Groundhog Day moment. There have been important changes and you need to be aware of them.

HMRC opens new disclosure facility for multinationals
Suze McDonald and Nick Blundell
HMRC has this week opened a new disclosure facility for multinationals that it believes may be under-declaring corporation tax or Diverted Profit Tax (DPT) liabilities. Affected companies should take note - this looks less like a fishing trip and more like a targeted intervention.

Campaigners secure loan charge concession in Finance Bill
Andrew Hubbard
Campaigners who were lobbying for the loan charge to be overturned secured a modest victory this week when MPs voted through a late amendment to the Finance Bill. This will require HMRC to report on the loan charge by 30 March 2019 – just before it is due to come into effect. So what will this mean in practice? 

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