US President Donald Trump's efforts to pull the reins on the Affordable Care Act, dubbed ‘Obamacare’, gained momentum on Thursday as the Republican’s healthcare bill was passed (narrowly) in the House of Representatives. The bill symbolises an important legislative victory for the Trump administration and paves the way for a tax cut for high earners.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap