Law and regulation

Tax / Tribunals force rethink on Scottish land tax penalties rules

An Upper Tribunal for Scotland ruling has highlighted administrative issues over the issue of penalty notices for Land and Buildings Transaction Tax late payments, but Revenue Scotland vows to continue charging daily penalties

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 / First guidance on IR35 private sector off-payroll rules

HMRC has published its first detailed guidance on how new rules for off-payroll workers (IR35) will operate in the private sector when the responsibility for determining individual’s employment status moves to employers in April next year, reports Pat Sweet

Tax / Four Quick Fixes to VAT on intra-EU movement of goods

Businesses need to prepare for the EU’s Four Quick Fixes, the latest attempt to refresh the VAT system for intra-EU movement of goods, effective from January 2020. Rob Janering, associate director at Accordance explains the impact on supplies when call-off stock arrangements and chain transactions take place

Tax / Capital allowances under structures and buildings allowance (SBA)

The newly launched structures and buildings allowance (SBA) gives a 2% flat rate capital allowance tax break on expenditure incurred after 28 October 2018. Zigurds Kronbergs, tax writer at Croner-i, explains 

Tax / UK continues to refuse to cut VAT on e-books

The UK continues to charge VAT on e-books, audio books and online newspapers despite changes to EU VAT rules introduced last year and since adopted by a growing number of member states

Tax / Government gives £1.1bn tax relief to film, TV and creative industries

A total of £1.1bn was paid out in creative industries tax reliefs in 2018-19, a 22% increase on the previous year’s figure of £900m 

Tax / HMRC loses £1m VAT case against Scottish farmer

HMRC has lost a £1m VAT case on appeal at the Supreme Court against a Scottish farmer over the purchase of farm subsidy entitlements

Tax / Construction industry reverse charge VAT ‘chaos’

Just over two months before major changes to VAT invoicing take effect for the construction industry, two thirds of SMEs in the sector know nothing about the new reverse charge regime, reports Pat Sweet

Tax / Tax implications of selling assets before capital goods scheme expires

Croner-i tax writer Sarah Kay looks at the consequences of selling an asset covered by the capital goods scheme (CGS) before an arrangement expires, potential tax liabilities and HMRC's discretion over the application of disposal tests

Tax / Accounting for VAT adjustments when prices change

HMRC has updated the accounting rules for adjustments to VAT when there are increases or reductions in the price of goods or services, set to come into effect in September

Tax / Government exempts Windrush compensation payments from tax

Payments made under the Windrush Compensation Scheme will be exempt from income tax, inheritance tax and capital gains tax, HMRC has announced

Tax / Scope of reduced VAT rate for solar panels narrows

The VAT incentive for installing energy efficiency measures in residential accommodation is to be amended to bring the UK into line with EU rules, HMRC has confirmed

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 / 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 
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