Podcast: Tax News: September 2024

In this podcast, Zoe Andrews and Tanja Velling highlight points from the Chancellor’s statement on public spending inheritance and consider some of the draft legislation published for consultation, including in relation to Pillar Two, for an anti-arbitrage rule to be added to the transitional safe harbour. They also discuss updated HMRC guidance on the multinational top-up tax and domestic top-up tax and comments from the business community.

Before moving on to HMRC statistics on the tax take and litigation outcomes for 2023/24, Zoe and Tanja discuss VAT and the Clapham omnibus, two VAT-related developments in the EU and the Supreme Court’s decision in Centrica on the deductibility of M&A advisers’ fees as expenses of management.

Amongst upcoming developments, they refer to the draft terms of reference for the UN Framework Convention on International Tax Cooperation to be voted on by the General Assembly during its 79th session this September.