Personal tax

Tax / Royal wedding bells ring in tax liabilities

As the world gears up to celebrate tomorrow’s exchange of vows between Prince Harry and Meghan Markle, the UK stands to see a big boost to weekly retail sales, but there are warnings of the dangers of ignoring the tax implications for those seeking to cash in on the royal wedding, whether by renting out rooms or offering impromptu hospitality

Tax / IR35 rules make it harder to recruit public sector contractors

With a number of IR35 public sector cases going against HMRC, the tax authority has released research showing that the majority of public sector employees are now up to speed with the rules although nearly 40% report difficulties filling specialist vacancies as a result of the rule change

Tax / Government aims to extend IR35 off-payroll working rules to private sector

Private sector companies are likely to be drawn into the IR35 off-payroll working rules as the goverment ramps up its plans to curb the use of personal service companies and launches a consultation on extending existing ‘off-payroll’ working rules into the private sector to address a claimed £1.2bn a year in lost tax take, reports Pat Sweet

Tax / Public sector contractor beats HMRC over IR35 case

There is continuing confusion surrounding HMRC’s application of the IR35 rules regarding disguised employment, after an IT contractor who challenged a £26,000 tax bill arising from work on a Department for Work and Pensions (DWP) project won his appeal at a First Tier Tribunal (FTT)

Tax / Online gambling tax rise to offset betting terminal stake cut

The government’s decision to cut the maximum stakes on fixed odds betting terminals (FOBTs) from £100 to £2 is likely to result in a hit to the estimated £450m tax take from the machines each year, with the Treasury looking to increase taxes on online gambling to address the shortfall

Tax / EU go-ahead for enterprise management incentive (EMI) tax break

The EU has breathed new life into a £380m scheme designed to broaden SME employee ownership in the UK by renewing EU state aid approval for the enterprise management incentive (EMI) scheme, which lapsed last month

Tax / Minor software providers sign up to Making Tax Digital pilot

With less than a year until the rollout of Making Tax Digital for VAT reporting becomes mandatory, HMRC has signed up two more software providers for the income tax pilot

Tax / Royal wedding raises tax issues for Meghan Markle

Tax may be the last thing on Meghan Markle’s mind in the run-up to the royal wedding on 19 May but in the next few months she needs to spend time sorting out the tax position brought about her new found royal status, warns Blick Rothenberg

Tax / HMRC spend on debt collectors balloons

In a bid to close the tax gap and chase up recalcitrant taxpayers, HMRC has ramped up spending on private sector debt collectors by 62% in the last year to reach £39m, compared to £24m in 2016

Tax / Plan to change tax for short-term business visitors

HMRC is consulting on ways to improve the tax and administrative treatment of short-term business visitors from overseas branches, with a view to reducing the administrative cost and burden, and making the UK a more attractive place to headquarter and do business

Tax / Changes to van duty and red diesel to cut pollution

The Treasury has launched two consultations on changes to vehicle excise duty for vans and the reduced duty rate for red diesel, in the light of government initiatives to clamp down on pollution in urban areas

Tax / MPs warn of universal credit risks for self-employed

MPs are warning that the regulations around universal credit pose a ‘very real risk’ to entrepreneurs as they have been designed with ‘little regard for the reality of self-employed work’ and are calling for changes to the rules to avoid crushing new start-ups

Tax / Enterprise Investment Scheme (EIS): tax tips and pitfalls

Jonathan Amponsah, CEO and founder of the Tax Guys, outlines the pros and cons for investors when entering an Enterprise Investment Scheme (EIS) as well as the various compliance issues to claim the tax relief

Tax / MPs slate use of RPI for student loan inflation measure

The Treasury select committee has criticised the government over the ‘absurd’ decision to use RPI as the inflation measure to calculate student loan interest instead of CPI which is used for majority of government calculations, including benefit rises

Tax / One tax mistake and you’re out

The Home Office is meddling with complex tax affairs and it is questionable whether immigration officers have the requisite tax expertise to refuse people leave to remain in the UK under section 322(5) of the Immigration Rules for tax compliance reasons. Andrew Hubbard, tax consultant at RSM considers the dilemma