Weekly tax brief | 22 October 2019

OECD proposals will shift taxable profits away from tax havens and back to customer countries
George Bull 
The OECD has published new proposals for taxing international consumer-facing businesses. These proposals go much further than the FAANGs (Facebook, Apple, Amazon, Netflix and Google) and seem likely to catch other profitable global brands. We summarise the proposals and consider how they fit in with the UK’s diverted profits tax and digital services tax.

VAT, customs duty and trade in a no-deal Brexit
Philip Munn and Brad Ashton
At the time of writing, there remains uncertainty as to how Brexit will be resolved. While several scenarios still exist, we examine two possibilities on the grounds that they require specific actions or can be scrutinised with some degree of certainty; no-deal (on 31 October or later) and the new Withdrawal Agreement that has recently been agreed with the European Commission. 

The Withdrawal Agreement; what do we know?
Philip Munn and Brad Ashton
We look ahead to what the post-transition arrangements will look like, if and when Great Britain leaves the VAT Union and the UK (including Northern Ireland) leaves the EU Customs Union.

Is HMRC making key life events unnecessarily hard for taxpayers?
Alex Foster
There is no shortage of commentary on the increasing complexity of our tax system but a new report from the Office of Tax Simplification (OTS) suggests that HMRC makes things more complicated than they need be when it comes to key life events such as starting a new job or retiring. So will the Chancellor take heed of the OTS findings in this year's Budget? 

HS2 and the tax treatment for compulsory acquisitions
Irfan Butt
The UK’s HS2 high-speed rail project has come under fire regarding delays and valuations for compulsory purchase payments, but what are the tax implications individuals and businesses need to consider?

Related services