Personal tax

Tax / Loan charge tax deadline in six days, warns LITRG

The Low Incomes Tax Reform Group (LITRG) is warning people that they have until Wednesday (30) to meet their loan charge reporting and payment obligations

Tax / VAT refunds to overseas shoppers to go post-Brexit

The Treasury has signalled the government will end VAT refunds on purchases made by overseas visitors on 31 December, when the UK leaves the EU, despite claims from the travel and luxury goods sector that this will harm tourism

Tax / Q&A: class 1 NIC bill from HMRC

In our regular Q&A series from Croner Taxwise, Vanessa Matthews advises how much could be recoverable from an under deducted Class 1 National Insurance Contributions (NICs) bill from HMRC

Tax / Q&A: main residence capital gains tax

In our regular Q&A series from Croner Taxwise, trainee tax adviser, Alexander McCarthy explains whether a taxpayer can claim their old marital home is still their main residence for capital gains tax (CGT) purposes when it is sold

Tax / Windsor tops tax avoidance table

Windsor has been named the UK hotspot for tax avoidance based on numbers of disclosures by taxpayers in the past year, with other stockbroker belt towns also in the top ten, according to research by UHY Hacker Young

Tax / Is a wealth tax on the cards?

A new wealth tax in the UK, to support the NHS and social care, cannot be ruled out, following suggestions from the US to introduce a new charge on billionaires, says Blick Rothenberg’s Nimesh Shah

Tax / Private pension withdrawal age to be raised

The Treasury has confirmed that the minimum private pension age will increase from 55 to 57 in 2028, meaning that savers in late forties and those younger will now need to wait two years longer before accessing their pension

Tax / Government must tackle unexpected tax bill for NHS workers

Existing tax rules on free accommodation, meals and childcare should be axed for NHS staff who made great sacrifices to protect us all, says RSM’s Susan Ball

Tax / Taxpayer wins appeal over high income child benefit charge ignorance

A taxpayer has won an appeal against penalties imposed for his failure to notify his liability for the high income child benefit charge (HICBC), on the grounds that ignorance of the law was a reasonable excuse and he was not required to ‘rummage’ through all of HMRC’s information sources

Tax / Higher rate pension relief threat to fund coronavirus bill

In her second article on possible pension tax relief reform, LEBC’s Kay Ingram sees greater restrictions ahead as cost of Covid-19 becomes clearer with Spring Budget changes short-lived

Tax / Call to reform CGT rules for divorcing couples

Accountancy firm Milsted Langdon, has joined family law organisation, Resolution, in calling for reforms to the capital gains tax (CGT) system - making it fairer and simpler by introducing a general relief for asset transfers arising for divorcing couples 

Tax / An uncertain matter of death and tax

As questions are raised over the future of inheritance tax, Crowe’s Tom Elliott reviews the possible options and asks whether it is a tax that should be laid to rest

Tax / HMRC clarifies loan charge settlement arrangements

HMRC has published further details on how it will implement the loan charge in relation to the use of disguised remuneration tax avoidance schemes where the tax due has not already been settled, emphasising there will be no special settlement terms

Tax / Pensions tax help for lowest paid workers under review

As the government consults on the impact of pension tax relief on lower earners, LEBC’s Kay Ingram weighs the options, calling for greater automation

Tax / HMRC ‘plea bargain’ tax evader deals collect extra £120m

Plea bargain deals give taxpayers immunity from criminal investigations as HMRC steps up investigations to help pay for coronavirus economic assistance