United Kingdom Tax Bulletin

    December 2009

    In this issue:

    • Current Rates: The latest rates of inflation and interest
    • Capital Gains Tax: Rebasing elections
    • Trusts: The different approaches of the courts and HMRC
    • Reasonable Excuse: The Tribunal examines claims for reasonable excuse
    • Inheritance Tax: Trusts with reversionary rights to income
    • Partnerships: The existence of a partnership
    • Enterprise Investment Scheme: A new view where a company is a partnership
    • Capital Gains Tax: HMRC relax their practice on computing currency gains
    • Bank Payroll Tax: Further details are announced
    • Offshore Bank Accounts: The disclosure regime is about to get worse