Business tax

Tax / HMRC does not understand small business tax concerns

Small business taxpayers feel that HMRC does not understand their needs and are worried that any mistakes will be perceived as intentional and result in penalties

Tax / Google hit with €1bn French tax payment

The French government is claiming a ‘historic’ victory in a long running tax battle with Google, after reaching a €945m (£845m) settlement with the tech giant over tax fraud allegations

Tax / 120,000 businesses miss first MTD for VAT deadline

Some 120,000 businesses have missed the first deadline for filing under the Making Tax Digital regime, and HMRC has sent out ‘TV licence’-style reminders urging them to do so before next month, but will not be taking enforcement action at present

Tax / ‘Phantom’ FDI tops $15 trillion

Almost 40% of global foreign direct investment (FDI), totalling some $15trn, is so-called ‘phantom’ capital intended to minimise a company’s tax liabilities rather than finance productive activity, according to research by the IMF and the University of Copenhagen

Tax / Finance Bill 2019–20: draft legislation at a glance

With all consultations relating to Finance Bill 2019-20 now closed for comment, Sarah Arnold, tax writer at Croner-i, gives a rundown of the key tax changes proposed and how they will affect UK businesses and individual taxpayers when enacted after the Budget this autumn 

Tax / Restaurateur served up nine-year ban after hiding VAT from HMRC

A restaurateur behind Glasgow’s Cyan Restaurant has been disqualified for nine years after failing to pay a £195,000 VAT bill.

Tax / Tax filing deadlines: Sep-Dec 2019

The key HMRC filing deadlines from September to December 2019 including corporation tax second quarterly instalment payment for companies with annual taxable profits exceeding £20m, loan charge deadline for reporting to HMRC any disguised remuneration issues, and Making Tax Digital for VAT compliance deadline for deferred entry businesses

Tax / £16m ‘Brexit boost’ to fund thousands more customs agents

Government sets aside more funding to help businesses train staff to handle customs regulations after the UK leaves the EU, but business urged to apply early before funds run out

Tax / Tax updates: September 2019

In this month’s roundup of tax case, Ingenious film scheme ruled tax avoidance at appeal, worker cannot claim tax relief on contractor travel expenses in Nowak, Hargreaves Lansdown loses £15m loyalty bonus tax case, Making Tax Digital confirmation notices and IR35 private sector off-payroll working guidance issued

Tax / Taxpayer did not disclose full earnings in self assessment

A tax tribunal has rejected an appeal by a business owner who faced a tax investigation over discrepancies between his earnings and tax returns for his delivery company

Tax / Mid-sized businesses do not see tax compliance as priority

Mid-sized businesses do not see tax planning and compliance as a major priority for their businesses but more part of the everyday running of the business, with heavy reliance on accountants and tax agents to handle their tax affairs

Tax / Bull: will US/French deal derail UK digital services tax?

George Bull, senior tax partner at RSM, asks whether France’s commitment to refund part of its digital services tax to the US tech giants will scupper the UK’s efforts to introduce a 2% digital tax

Tax / HMRC advisory fuel rates for company car users from 1 September

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2019 cutting standard 1400cc plus mileage rates by 1p per mile to reflect lower fuel costs

Tax / Collecting tax from insolvent businesses

Meg Wilson CTA examines the proposals to change the rules to allow HMRC to recover more money from insolvent businesses, including reverting to secondary preferential creditor status

Tax / Using capital allowances for tax relief on business expenditure

Confusion and lack of knowledge about capital allowances discourages many business owners from using this essential tax relief worth up to £1m. David Redfern, director of DSR Tax Claims explains the qualifying criteria for the £1m annual investment allowance (AIA)
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