Business tax

Tax / MTD: examples from around the world

There are just over 70 days until Making Tax Digital (MTD) goes live in the UK. James Bunney looks at several other countries where digital reporting has been introduced in recent years

Tax / UK agreement with Israel cuts dividend tax

The UK has signed a new Israel tax agreement to update the double taxation convention (DTC) with the country, offering reduced dividend tax rates for inward investors

Tax / Making Tax Digital engagement letters released by tax institutes

With less than 80 days to the rollout of Making Tax Digital for VAT, a number of professional institutes, inlcuding AAT, ACCA, ATT, CIOT and STEP, have released initial engagement letters defining client relationships under the new digital reporting framework

Tax / HMRC issues updated ADR guidance

HMRC has updated its guidance on the use of the Alternative Dispute Resolution (ADR) service, providing taxpayers with improved information over when and in what circumstances the service can be used

Tax / Making Tax Digital: where are we now?

Making Tax Digital (MTD) for VAT, which goes live in April 2019, has left accountants confused and businesses struggling to keep up. James Bunney examines the current situation and what MTD means for the future of business tax

Tax / Case: HMRC knocked back over failure to comply with 'unless order'

When HMRC over-reaches its powers, the courts do take action as happened in the recent long-running BPP [2018] TC 06632 case subject to an unless order barring the tax authority from tribunal proceedings. Stan Dencher, specialist tax writer at Croner-i, examines the case

Tax / VAT Q&A: Payments on Account regime and threshold compliance

In our regular VAT Q&A series, Croner Taxwise VAT specialist Hilary Budd explains the ins and outs of the payments on account (POA) regime for a business straddling the POA threshold and how to leave the scheme

Tax / FTT cannot rule on self assessment refusal

The First Tier Tribunal (FTT) has determined that it has no jurisdiction on whether HMRC accepts or rejects self assessment tax returns in the case of a shop owner who failed to file his returns for 16 years running and was then subject to a bankruptcy petition

Tax / EU probes Nike over Dutch tax arrangements

Nike is the latest multinational to find its tax affairs under scrutiny from Brussels, with the European Commission launching an investigation into whether five Dutch tax rulings in favour of Nike may have given the US trainer behemoth an unfair advantage

Tax / HMRC targets multinationals with profit shifting disclosure

The launch of the disclosure facility represents a 'last chance saloon' for companies to close cross-border arrangements and pay what they owe as HMRC steps up its campaign against tax avoidance by multinationals

Tax / Accountancy magazine subscribers - activate your online subscription

Following the closure of Accountancy magazine in December 2018, please make sure you activate your online subscription to access Accountancy Daily, including technical articles, insight and commentary, CPD and the Accountancy Archive.

Tax / MPs reject sweeping Treasury Brexit powers

The government’s no-deal Brexit preparations suffered a blow as a clause in Finance Bill 2018-19 (FB 2018-19) giving the Treasury broad powers in the event of a no-deal Brexit was narrowly defeated by rebels and opposition members

Tax / Indirect trade demerger: chargeable gains position – part 2

In the second article of a two-part series on demergers, Paul Davies ACA CTA, tax writer at Croner-i, investigates how to ensure there is no disposal for capital gains purposes by the distributing company’s shareholders of their interests in the distributing company

Tax / Half of taxpayers still to complete self assessment

ICAEW is warning the 5.5m individuals HMRC estimates have yet to complete their tax return against leaving it to the last minute, as they risk a penalty if they miss the 31 January 2019 deadline

Tax / Tribunal confusion over BlackRock VAT for financial services case

A dispute between investment management firm BlackRock and HMRC over VAT on financial services has seen the case referred to the European Court of Justice (CJEU) after the Upper Tribunal failed to reach a verdict, reports James Bunney
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