Business tax

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Tax / Blick Rothenberg: Bleak winter to follow summer statement

The chancellor’s moves on job retention bonuses and VAT cuts could be delaying the inevitable failure of many companies, says Blick Rothenberg’s Nimesh Shah

Tax / Q&A: is VAT recoverable from electric cars?

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins explores whether VAT is recoverable on the purchase of an electric car, and the input tax implications on usage of a green vehicle

Tax / Tax gap of £31bn shows downwards trend

The tax gap, which is the difference between tax that should be paid and what is actually paid, has fallen to 4.7%, its lowest recorded rate, according to HMRC estimates

Tax / Chancellor urged to go further with Covid-19 support

Early reaction to the Chancellor’s summer update of measures to combat the economic challenges posed by Covid-19 has been largely positive, although there has been surprise at the lack of support for some badly affected sectors such as retail and aviation

Tax / Summer update: Chancellor offers job funding, VAT cuts and eat out discounts

Just four months after his first Budget, Chancellor Rishi Sunak has unveiled a summer economic update designed to mitigate the impact of the Covid-19 pandemic, with a commitment to encouraging job creation through a government ‘plan for jobs’ and stimulus for consumer spending

Tax / Chancellor’s plans to reset economy post-Covid

Chancellor Rishi Sunak is to deliver a ‘summer economic update’ tomorrow, 8 July, outlining the government’s plans to support the economy through the first phase of recovery from the coronavirus crisis, with likely options including temporary tax cuts, funding for green projects, and job creation schemes

Tax / Covid-19: VAT cut on PPE extended

The Treasury has extended the temporary scrapping of VAT on personal protection equipment (PPE) until the end of October, with the move expected to save £155m for care homes and businesses dealing with the coronavirus outbreak

Tax / HMRC shifts guidance on public access to national treasures

Covid-19 has prevented access to land and property of significant national value, but HMRC is granting owners leeway over its tax incentive scheme, say Withers’ Charlie Tee and Louise Williamson

Tax / Automatic tax information exchange unearths €10 trillion offshore

Levels of automatic exchange of data between tax authorities almost doubled last year, uncovering €10 trillion in offshore assets, according to the OECD which says this is a ‘game changer’ in the fight against tax evasion

Tax / Six rules you need to know: flexible furlough system

Here are the rules employers and employees need to know to access the government’s flexible furlough scheme that launches on 1 July, explained by Alan Price, HR expert and CEO at BrightHR

Tax / Q&A: can SME's claim R&D plus Covid-19 scheme?

In our regular Q&A series from Croner Taxwise, tax adviser, Amaira Badat explores how an SME’s R&D relief claim will be affected if they also claim under the Coronavirus Job Retention Scheme (CJRS)

Tax / IHT and CGT in spotlight as deficit leaps

The growing budget deficit is concentrating minds on radical reforms to inheritance tax, which now appear more attractive in the current climate, say Judith Millar and Alastair Collett of BDB Pitmans

Tax / Covid-19: delays to overseas VAT claims

HMRC has admitted that changes to its working practices, as a result of the pandemic, have resulted in delays in processing and refunding VAT claims submitted under the Overseas Refund Scheme

Tax / Call for carbon taxes to offset Covid-19 costs

The Treasury should make more use of carbon taxes and consider other changes in tax policy in order to support efforts to reduce greenhouse gas emissions and bolster public finances, according to the Committee on Climate Change (CCC)
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