Tax / Amendments to rules on ‘UK property rich’ collective investment vehicles

HMRC is consulting on draft amendments to legislation about the taxation of UK property rich collective investment vehicles and their investors, which are designed to ensure the new rules work as intended

Tax / Consultations: Sep-Oct 2019

This month's HMRC and Treasury consultations focus on simplification of partial exemption and capital goods scheme and cross-border tax disclosure rules affecting intermediaries and tax advisers

Tax / UK digital tech businesses want tax streamlined

The UK’s digital tech businesses are positive about tax compliance but struggle with the complexity of some requirements, notably VAT and employment taxes, according to HMRC research

Tax / Consultations: Aug-Sep 2019

This month's HMRC and Treasury consultations focus on an overhaul of Companies House' business disclosure regime, plans to simplify VAT capital goods scheme, cross-border tax disclosure rules and reduction in employment allowance NICs 2 threshold 

Tax / OTS reviews tax reporting for self employed

The Office of Tax Simplification (OTS) has launched a project to review tax reporting and payment arrangements for self-employed people and buy-to-let landlords

Tax / HMRC consults on cross-border tax disclosure rules

The government is consulting on new rules required to implement an EU directive that will require the disclosure to HMRC of certain cross-border arrangements that could be used to avoid or evade tax

Tax / Plastic waste tax set for 2022 launch

The Treasury plans to go ahead with plans for a single-use plastic waste tax, covering all plastics and chargeable by weight, although it will not become law for three years

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