Edition 4105: LawNewsIndex is a UK based daily legal news archive on Law, Lawyers, Law Firms, Justice, Jurisprudence, Legislation, Litigation, Legal Ethics & Human Rights since 2011.
-------------------------------------------------------------
Focus of the Day Law News/Article: Only 27 law firms in England and Wales have signed up to verify data submitted by overseas entities to meet new corporate transparency requirements, it has emerged. The revelation follows warnings by the Law Society that solicitors could be at risk of prosecution if they sign off submissions that turn out to be untrue. Full
story The Law Society Gazette
Today's Highlighted Video Story: Moulsdale t/a Moulsdale Properties (Appellant) v Commissioners for HMRC (Respondent) (Scotland) - Sales of land and buildings are generally exempt from value added tax ("VAT"). However, an owner of land and buildings can opt to tax their property so that it then includes VAT. Schedule 10 to the VAT Act 1994 provides for compulsory disapplication of an option to tax in certain circumstances. If the relevant provisions apply, a sale of property where an option to tax has been exercised goes back to being a sale that is VAT exempt