29.04.2020. UK to implement EU double tax dispute resolution system

Company News

HM Revenue and Customs (HMRC) have published a policy paper to provide a more efficient framework for the resolution of double taxation disputes arising between the UK and other member states post-Brexit.
HMRC in a policy paper outlined its plan to implement the Union Arbitration Convention through regulations, which will provide a mechanism for EU member countries to resolve tax disputes with the UK nation.
The regulations will apply to questions in dispute relating to income or capital earned in a tax year beginning on or after Jan. 1, 2018.
The new regulations do not replace the existing bilateral tax treaties or the Union Arbitration Convention, but are another option for businesses and individuals to consider.
The measure is triggered at the behest of an individual, not HMRC.
Unlike existing bilateral tax treaties, the new measures include a provision for mandatory and binding arbitration.