Law and regulation

Tax / Taxpayer rights under Human Rights Act explained

HMRC has issued factsheet CC/FS9 on the individual rights of taxpayers who are facing penalties for non-compliance with tax rules, focusing on article 6 of the European Convention on Human Rights

Tax / How to report expenses and benefits in kind

As the final quarter before the 6 July deadline for reporting expenses and benefits in kind for the tax year ending 5 April 2018 starts, HMRC has issued bulletin 71 setting out the key compliance requirements for employers in a bid to force all users to move online

Tax / Average tax fraud sentence up by 25%

The average sentence length for tax fraud has increased by 25% over the last year, suggesting political pressures and a tougher stance from HMRC are having an impact, according to research by Pinsent Masons

Tax / Online platforms ‘jointly and severally’ liable for UK VAT

New legislation making online marketplaces more accountable for VAT fraud committed by online sellers on their platforms have come into force this week, as part of a package of measures in Finance Act 2018 which the Treasury says are set to raise an additional £1.2bn in tax

Tax / US taxman set to close offshore voluntary disclosure programme

The US Internal Revenue Service (IRS) plans to close the offshore voluntary disclosure program (OVDP) which allows US taxpayers to declare non-compliant offshore assets from 28 September

Tax / OECD calls time on offshore structures for tax avoidance

The OECD has issued new model disclosure rules that require lawyers, accountants, financial advisers, banks and other service providers to inform tax authorities of any schemes they put in place for their clients to avoid reporting under the OECD/G20 common reporting standard (CRS)

Tax / HMRC updates employee travel guide on tax and expenses

HMRC has published the 2018 version of guide 490: Employee travel, explaining income tax and national insurance contributions (NICs) liabilities for business expenses

Tax / Money laundering supervision guidance for trusts and high value dealers

HMRC has updated its guidance on money laundering supervision for trusts, company service providers and high value dealers, outlining how to identify high risk areas to avoid being targeted by criminals

Tax / Making Tax Digital: HMRC needs to pick up the pace

With just over a year to go HMRC is stalling over key software decisions around Making Tax Digital for VAT leaving everyone concerned about whether software provision will be ready in time to allow for sufficient pre-launch testing, warns Androulla Soteri, tax development manager at MHA MacIntyre Hudson

Tax / Transfer pricing definition updated to reflect OECD BEPS

HMRC has confirmed the definition of transfer pricing guidelines within UK legislation following changes to the OECD guidelines issued last year, which will affect businesses who are subject to the transfer pricing rules for the purposes of income tax or corporation tax

Tax / Personal savings allowance: top slicing dilemma

Lisa Macpherson, head of tax technical at PKF Francis Clark, considers the tax liabilities for savers using the personal savings allowance (PSA) and sheds light on the best approach as HMRC calculation rules do not exactly reflect the legislation

Tax / Termination tax payment changes will hit high earners

There is now a month to go until major changes to the tax calculations for termination payments come into effect from April 2018 which will hit high earners and affect tax calculations

Tax / US tax reform: complexities of repatriation regime - part 2

In the second part of our series on the changes in the US tax system, Donald Doran discusses the complex changes to the country’s earnings repatriation regime

Tax / Taxpayers with overseas interests must disclose unpaid tax by September

Taxpayers who know or suspect that they have unpaid tax relating to overseas assets, income or activities need to act before the deadline of 30 September 2018 to avoid incurring much higher penalties for non-compliance

Tax / Scottish rate of income tax: what you need to know

After the Scottish government used its devolved tax powers for the first time in its recent Budget to change tax bands and create a new mid earner rate of 21%, Elaine McInroy, partner at Saffrey Champness, explains the impact of the changes on income tax rates for Scottish taxpayers from April 2018