Law and regulation

Tax / Missing trader VAT fraud and input tax recovery

Croner-i tax writer Sarah Kay looks at cases of carousel fraud and what HMRC can do to clamp down on the issue of VAT evasion on goods, by either disallowing input tax recovery or enforcing the domestic reverse charge

Tax / SARs stop £131m money laundering

Criminals have been prevented from accessing £131.7m in the past year, as the number of defence against money laundering (DAML) requests rose sharply, the National Crime Agency (NCA) says

Tax / Property tax essentials: 30-day CGT deadline, PPR relief

Residential property owners and buy-to-let landlords face significant tax changes from April 2020, including the 30-day CGT payment deadline and an overhaul of principal private resident relief (PPR) and extra statutory concessions (ESC). Mercer & Hole's Alison Palmer and Alice Pearson examine potential pitfalls

Tax / HMRC discovery assessments - NEW CPD module

This month's exclusive Accountancy Daily CPD module focuses on HMRC discovery assessments, particularly focusing on when they can be issued and how to challenge them, taking into account the rules applying for income tax, capital gains tax and corporation tax.

Tax / Australian backpacker tax ruled illegal

Some 75,000 casual holiday-workers may be in line for payouts of thousands of dollars from the Australian Tax Office (ATO)

Tax / 1 in 5 law firms ignore money laundering rules

The Solicitor Regulation Authority (SRA) is planning to launch money laundering investigations into 7,000 law firms after they discovered that too many were not complying with anti-money laundering regulations

Tax / Threat to name and shame aggressive tax dodgers not working

A government commitment to name and shame aggressive corporate tax avoiders has failed to sanction a single company, new figures have revealed

Tax / Government U-turn on probate fees hike

The Ministry of Justice (MoJ) has backtracked on long-standing plans for a substantial increase in probate fees, which will now remain at a flat rate, after proposals for a new tiered approach met with strong opposition on the grounds they amounted to a ‘stealth tax’ on bereaved families

Tax / Intercompany agreements and transfer pricing

HMRC’s greater focus on transfer pricing is testing intercompany agreements to breaking point, explains Paul Sutton, founder of LCN Legal 

Tax / Tax investigations: getting out of the rut

The stand-off between HMRC and taxpayers is only exacerbated when it comes to tax investigations which drag on for years, but partial closure notices (PCNs) at least offer some expectation of an outcome, albeit not final. David Lewis, partner at Mazars, explains

Tax / Sleight: Criminal Finances Act fails to stop tax evasion

The corporate offence of failure to prevent the facilitation of tax evasion under the Criminal Finances Act 2017 has not been as effective as HMRC originally expected. David Sleight, criminal litigation partner at Kingsley Napley, asks why there have been so few HMRC investigations two years on

Tax / Real estate gains and tax liability via offshore CIVs

Changes to tax rules will see UK real estate gains of offshore collective investment vehicles (CIVs) face new tax charges, but there are some exemptions so it is not all bad news for investors. Mark Cawthron LLB CTA explains 

Tax / Church wins appeal on zero VAT rating for annex

A church in Bournemouth has won its appeal that its newly built annex to its main building should be zero-rated for VAT, after a First Tier Tribunal (FTT) found HMRC’s decision to seek VAT payments was based on largely out of date plans for the development

Tax / Legal updates: October 2019

In this month’s legal updates, Sophie Brookes, partner at law firm Gateley plc, considers failed tax claim in Stobart, whether interim accounts are acceptable for dividend distribution in Burnden Holdings and directors’ duties during a management buyout

Tax / Tax updates: October 2019

In this month’s tax updates, three BBC presenters lose IR35 case, Apple tax demand ‘defies reality’, Glencore wins £51m transfer pricing appeal, HMRC does not understand small business, 120,000 miss MTD deadline, double NIC Brexit warning, and NHS pension tax consultation
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