Share with your friends

Other news in brief

Other news in brief

A round up of other news this week.


Also on

Businesses who use the GIANT (Government Information and NHS Trust) service should shortly be receiving confirmation in writing from HMRC that they will not be required to follow the Making Tax Digital (MTD) rules before April 2022. Those affected should continue to submit their VAT returns as they do now.

In the case of Aozora GMAC Investment Ltd v Revenue And Customs, the taxpayer was denied UK corporation tax relief for US tax withheld on interest paid from a subsidiary. They contended in their claim for judicial review that wording in HMRC’s International Manual (since corrected) gave rise to a legitimate expectation that their claim for double taxation relief would have been allowed. The High Court rejected their application in 2017 and the Court of Appeal has now upheld that decision and rejected the taxpayer’s appeal.

The OECD announced that the ‘Platform for Collaboration on Tax’ (a joint initiative of the International Monetary Fund, OECD, United Nations and World Bank) is seeking feedback on a draft toolkit designed to help developing countries in the implementation of effective transfer pricing documentation requirements.

The September BRC – KPMG Retail Sales Monitor has been published highlighting that the prospect of a ‘no deal’ Brexit has seen consumers holding back on spending. Paul Martin, Head of Retail at KPMG in the UK, commented that in September 2019 like-for-like sales declined by 1.7 percent compared to last year.

© 2021 KPMG LLP a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organisation please visit

Connect with us


Want to do business with KPMG?


loading image Request for proposal

Save, Curate and Share

Save what resonates, curate a library of information, and share content with your network of contacts.

Sign up today