UK: VAT Charged On Invoices Relating To Defined Benefit Occupational Pension Schemes – All Change For HMRC’s Approach

HMRC has released new guidance dealing with the ability of sponsoring employers to recover input VAT in respect of supplier costs for running defined benefit occupational pension schemes. These costs will typically involve a wide range of service providers, including actuaries, investment managers, legal advisers, administrators and auditors.

The previous basis adopted by HMRC in relation to the recovery of such VAT can still be used until 31st December 2015 however the new interpretation can […]

By |December 18th, 2014|

United States: Oregon Supreme Court Rules Cable And Internet Services Subject To Central Assessment

On October 2, the Oregon Supreme Court ruled that property used by a taxpayer to provide cable television and Internet access services was subject to central assessment for property tax purposes, and therefore its intangible assets were subject to tax.1 The primary issue in the case was whether the taxpayer’s services qualified as “data transmission services” which are statutorily subject to central assessment. The Court declined to rule on whether the Oregon Department of […]

By |December 18th, 2014|

US Congress Passes 1-Year Retroactive “Extenders” Package

President Obama is expected to sign bill extending tax provisions that expired at end of 2013.

It’s been called “a terrible way to make tax policy” and “not that great a deal for families, individuals, and businesses”–and that’s just by its supporters. Still, even though far from ideal, the “Tax Increase Prevention Act of 2014” is an early Christmas present for taxpayers.

The bill seamlessly extends 50 tax provisions that expired earlier this year through the […]

By |December 18th, 2014|