The UK government has published Draft legislation: Amendment of the VAT (Input Tax) (Specified Supplies) Order 1999 that includes amendments to address value added tax (VAT) avoidance through offshore looping by providers in the financial services sector and Draft legislation: interest provision legislative amendment that clarifies the legislative framework for HMRC to charge interest for late payment of taxes and to pay interest on repayments to taxpayers. Summaries of the draft legislation are as follows: --- VAT off-shore looping arrangement The government is announcing today that secondary legislation will be introduced later in the year to tackle VAT avoidance which...