Business tax

Tax / Top tax tips: when expenses are non deductible against income

Jonathan Amponsah, founder of The Tax Guys, gives a rundown of 10 expenses which cannot be claimed against income even if incurred for business, highlighting potential tax traps after HMRC wins in Healy and Samadian expenses cases

Tax / Trade and asset sales: tax implications - part 1

Croner-i tax writer Paul Davies FCA CTA unpicks the tax implications of trade and asset sales by a company to an unconnected third party looking at how every component of the sale can have an impact on tax efficiency

Tax / Tax planning: lasting power of attorney for farmers

Setting up a lasting power of attorney is a  shrewd move for farmers as they prepare to pass their business to the next generation, giving them flexibility and protection from a punitive tax bill, says Julie Butler of Butler & Co

Tax / Company cars: calculating tax on car benefit - part 1

In the first of a series on company car tax, Julie Clift CTA, tax writer at Croner-i, explains the calculations when assessing company cars as a taxable benefit and defining reason of employment

Tax / France faces US backlash on 3% digital services tax

France is to introduce a 3% digital services tax, the first European country to do so, and now faces the risk of retaliation from the US, which argues that the levy unfairly targets multinational tech giants

Tax / Treasury plans one-year tax break for zero-emission company cars

The government plans to remove company car tax for newly registered zero emission models for one year from 2020 to offset the impact of the Worldwide harmonised Light vehicles Test Procedure (WLTP)

Tax / Finance Bill 2019-20 sets out £1.1bn tax grab from payroll working extension

The government has published Finance Bill 2019-20 with 17 key tax changes, including off-payroll working rules for the private sector which are expected to raise £1.1bn in the first year, extension of HMRC powers in GAAR investigations and the 2% digital services tax 

Tax / Bank and apprenticeship levy raise £37bn since 2010

HMRC has collected an additional £37bn from new taxes introduced over the past decade, according to research from UHY Hacker Young

Tax / Tax push to turn taxi cabs green

The government is to introduce tax incentives for taxi drivers and companies to buy zero-emission capable vehicles, in a bid to drive greater uptake of cleaner technologies

Tax / P11Ds and payrolling benefits

With the 2018/19 P11D deadline looming, Croner Taxwise payroll adviser Samantha O'Sullivan examines the pros and cons of payrolling benefits, plus key registration and filing dates

Tax / £1.5m second-hand bond scheme breaks tax rules

The General Anti-Abuse Rule (GAAR) advisory panel has outlawed a disguised remuneration scheme involving employee rewards linked to a second-hand bond, labelling it as abusive tax avoidance

Tax / Nunn: time to scrap double tax return in first year of new business

Calls to remove the need for businesses to complete two tax returns in their first year, put forward by the Office of Tax Simplification, could be implemented overnight. Yvette Nunn, director of Berkeley Associates, sets out a simple change to Companies House’s default position

Tax / R&D tax relief and the three-factor cap: what you need to know

The introduction of a cap on research and development (R&D) tax relief at three times the total of the companyʼs PAYE and NICs liability for that year is set to come into force in 2020 and could hit companies with a high R&D spend and low staff costs, despite protective measures, explains Stephen Relf ACA CTA    

Tax / HMRC ramps up tax credit renewal reminders

HMRC has issued a reminder that taxpayers must renew their tax credits by 31 July, or risk having their payments stop, as part of a concerted campaign to ensure individuals take action

Tax / New EU rules on tax dispute resolution launched

This week marks the introduction of new EU rules designed to ensure quicker and more effective resolution of tax disputes between member states, in a push to offer more tax certainty for businesses and individuals experiencing double taxation issues
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