Personal tax

Tax / CIOT president attacks loan charge legislation

The president of CIOT, Ray McCann, has told the Treasury sub-committee that the government’s approach to tackling disguised remuneration was ‘worse than retrospective legislation’ in that it removed the legal protections provided to taxpayers

Tax / CIOT warns Finance Bill tweaks damage confidence

CIOT has warned that a number of minor changes to Finance Bill 2018-19 (FB 2018-19) risk undermining the consistency depended on by taxpayers, reducing confidence and affecting international competitiveness

Tax / Self assessment tax returns and cash flow

As people get into the Christmas spirit, self-assessment taxpayers are facing the doom and gloom of 31st January 2019 tax bill but a cash flow benefit can be achieved by getting your tax return in early, says Paul Haywood-Schiefer, tax manager at Blick Rothenberg

Tax / Call to rethink tax system to tackle climate change

In the week of the annual UN conference on climate change, ACCA is calling for governments to rethink the design of the tax system holistically in a bid to counter the impact of climate change on business and society, by increasing taxes on pollution and natural resource use

Tax / Corporate taxes and VAT drive revenue spike

Tax revenues in advanced economies have continued to increase, with taxes on companies and personal consumption representing an increasing share of total government revenues, according to an annual review by the OECD

Tax / Voluntary return policy to get statutory footing

Meg Wilson CTA, tax writer at Croner-i, looks at why HMRC’s existing policy on voluntary returns is being legislated for, including cases which have concluded that unsolicited tax returns are not valid, and what impact this change will have on UK taxpayers and tax advisors

Tax / HMRC amends rules on termination payment tax

HMRC has updated guidance on the new rules for the taxation of termination payments, introduced to counter manipulation of the system, to reflect changed dates in relation to employer national insurance contributions (NICs) and to sporting testimonials

Tax / Lords call for greater oversight of HMRC powers

Recent powers provided to HMRC undermine the rule of law and hinder taxpayers' access to justice, and the tax authority should be subject to greater oversight and its powers reviewed, as the balanced has been tipped ‘unfairly’ in its favour, according to a House of Lords report

Tax / EU committee backs VAT reverse charge

The EU committee on economic and monetary affairs has voted in favour of a proposed amendment to the EU VAT directive, allowing member states struggling with fraud to temporarily change the way it is recovered

Tax / Ingram: probate fees hike is a tax on bereaved

Kay Ingram, director of public policy at LEBC, argues that an increase in probate fees puts an unfair burden on bereaved families and discusses what they can do to avoid being required to pay probate fees and inheritance tax upfront

Tax / Q&A: deemed domicile and remittance basis

In our regular Q&A series, Julian Payner, tax adviser at Croner Taxwise, examines issues of domicile and the remittance basis when completing a self assessment tax return for income tax and CGT for a Spaniard living in the UK

Tax / Human rights appeal on inheritance tax dismissed

The First Tier Tribunal (FTT) has dismissed an appeal by businessman Arron Banks that HMRC had breached his human rights by assessing him liable to inheritance tax (IHT) for donations made to UKIP in the period following the 2010 election

Tax / Employment tax updates: December 2018

In our monthly roundup of employment tax developments and Budget announcements, Jackie Hall, partner at RSM examines off-payroll working in the private sector, employee shares and entrepreneurs' relief, change to national insurance contributions (NICs) from 2020 and small company apprentice levy cut

Tax / HMRC writes to taxpayers about Welsh rates of income tax

With four months to go, HMRC has written to two million individuals in Wales ahead of the introduction of the new Welsh rates of income tax (WRIT), outlining residency and compliance issues

Tax / Appeal sees HMRC penalties knocked down to size

The First Tier Tribunal (FTT) has ruled that HMRC’s interpretation of legislation when calculating the penalty for a late self-assessment return was incorrect, reducing a contested £3,200 penalty to £600 in the case of a former taxi driver
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