1 GENERAL NEWS
1.1 Finance Act 2013
Finance Bill 2013 received Royal Assent on 17 July 2013. The Act
can be found at:
www.legislation.gov.uk/ukpga/2013/29/contents/enacted
1.2 DOTAS: Draft Regulations to include ATED schemes
Finance Act adds ATED to the list of Taxes covered by DOTAS.
HMRC has now published draft regulations setting out the types of
ATED arrangements to be disclosed to HMRC.
If implemented as drafted the regulation will apply from 1
October 2013. There are transitional rules for arrangements arising
between 13 December 2012 and 30 September 2013. Certain
arrangements are excluded from the need for disclosure and these
are where:
- the transferor and transferee are not connected persons, and
the transfer is on arm's length terms;
