In February the UK First-tier Tribunal delivered a landmark stamp duty reserve tax ruling. Michael Quinlan and Marguerite Sheldon of Deloitte, who acted for the taxpayer in the case, scrutinise the decision and explain why it has ramifications beyond UK stamp duty.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap