Consultations

Tax / Plans to simplify VAT capital goods scheme

The government has launched a consultation on simplifying VAT on capital assets to reduce the administrative burden of capital goods scheme (CGS) compliance

Tax / ECJ ruling sees red diesel outlawed for pleasure boats

Private pleasure crafts will no longer be able to use red diesel on UK waterways as a result of a European court ruling

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 / 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 / Consultations: July 2019

This month's HMRC and Treasury consultations focus on a review of the effectiveness of social investment tax relief, draft legislation for extending offshore receipts for intangible property and an overhaul of Companies House' business disclosure regime

Tax / Employment allowance NICs 2 threshold reduced

The government is cutting the threshold for eligibility for claims for the employment allowance from April 2020 due to state aid de minimis rules and to remove larger business claimants from the scheme

Tax / Scotland vote for tax on workplace car parks

Scottish MSPs have voted through plans to introduce a parking tax for employers, which would see businesses charged for providing workplace car parking spaces for staff

Tax / Changes to registration rules will net all trusts

The introduction of blanket disclosure means all UK trusts will have to register details of their ownership on the UK Trust Register from next year resulting in millions of additional registrations

Tax / HMRC targets insurance premium tax avoidance

HMRC is consulting on the operation of insurance premium tax (IPT) in a bid to stop artificial manipulation of fees and commission to avoid the tax and is considering anti-avoidance measures

Tax / Multinationals face global digital tax rules to collect missing $240bn

The OECD has set a timetable to develop a global framework for the digital taxation of multinationals with 2020 set as a deadline to finalise the rules, which are likely to include a wider remit than just digital tax to capture intangibles and IP

Tax / Consultations: June 2019

This month's HMRC and Treasury consultations focus on extending royalty withholding tax rules, social investment tax relief review and extension of the Fifth Money Laundering Directive to tax advice and overhaul of Companies House disclosure regime

Tax / Government consults on extension of royalty withholding tax

The government is consulting on draft legislation to extend the scope of royalty withholding tax by charging multinationals income tax on offshore receipts related to intangible property (ORIP) including brands and patents

Tax / Treasury probes value of social investment tax relief

The Treasury has published a call for evidence on the social investment tax relief (SITR), in a bid to understand the impact of the scheme which has been substantially under-used and is currently due to end in two years’ time

Tax / Consultations: May 2019

This month's HMRC and Treasury consultations focus on preventing abuse of R&D tax relief for SMEs, changes to private residence relief, and extension of the Fifth Money Laundering Directive to tax advice

Tax / HMRC sets out provisional rules on IR35 for private sector

HMRC has published preliminary guidance on how to prepare for changes to the off-payroll working rules from 6 April 2020, even though the consultation on the extension of the rules to the private sector has yet to close for comment
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