Tax news in brief 30 Nov 2018 - KPMG United Kingdom
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Other news in brief

Tax news in brief 30 Nov 2018

A round up of other news this week.

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In Dr C Goudie & Dr A Sheldon v Revenue Scotland [2018] FTSTC 3, the First-tier Tribunal for Scotland dismissed an appeal against Revenue Scotland’s decision to refuse to repay the land and buildings transaction tax additional dwelling supplement to the appellants. More details can be found in this article first published in Tax Journal on 23 November 2018 and reproduced with permission.

Following a request from the Chancellor of the Exchequer in January 2018 the Office of Tax Simplification (OTS) is undertaking a review of Inheritance Tax (IHT) covering a wide range of both administrative and broader technical aspects. In its First Report, published on 23 November 2018, the OTS commented “the review has attracted an unprecedented level of engagement, both from advisers and the general public” with over 3,500 responses, which is understood to be far more than for any of its previous reviews. The First Report focuses on the day to day administrative concerns with the key recommendation for the Government to give renewed consideration to digitising and simplifying the necessary administration. There is confirmation that a Second Report will be published in Spring 2019 which will explore complexities and ‘key technical and design issues’.

KPMG’s annual Risk and ICAAP benchmarking survey, Counting the Cost, finds asset managers have started to get more realistic when it comes to risk management.

According to new research from KPMG International, the fourth industrial revolution (Industry 4.0 or i4.0) requires transformational change at a pace the majority of manufacturers are not matching.

Global HR leaders are split on the urgent need to drive the Human Resources function into the future.

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