Personal tax

Tax / Offshore fund investors warned to check tax reporting

With two months to go before the 2018/19 self assessment tax return submission deadline, offshore fund investors need to check their tax reporting, before HMRC does, to avoid penalties

Tax / Nunn: tax hazards of trivial benefits at Christmas

A rigid £50 cap on the trivial benefits exemption can catch out lucky staff who receive generous gifts from employers. Yvette Nunn CTA ATT MAAT, director of Berkeley Associates, warns of potential tax pitfalls if you receive a lavish Christmas hamper or a wedge of gift vouchers

Tax / Guidance on tax-free allowance for trusts revised

HMRC has updated the guidance about the tax-free allowance for trusts and how to report capital gains tax (CGT)

Tax / Q&A: tax and joint rental income

In our regular Q&A series from Croner Taxwise, tax adviser, Marsha Haywood explores how joint rental income tax can be divided between owners more tax efficiently

Tax / HMRC revamps CEST IR35 off payroll working tool

With four months to go until the IR35 off payroll rules start to apply in the private sector, HMRC has published its first update to its controversial check employment status for tax (CEST) tool since it was launched in 2017

Tax / Gaines-Cooper and the implications for domicile

Dating back to the 1990s, the argument over Robert Gaines-Cooper’s domicile status is back in court, reminding high net worth individuals about the importance of keeping up to date with changes in tax avoidance legislation, warns international tax barrister Leon Fernando Del Canto

Tax / Tax updates: December 2019

In this month’s tax news, Gaines-Cooper returns to court, Higgins wins CGT claim, TV presenter Fospero and IT contractor in IR35 decisions, R&D tax credit claim fails and general election pushes back Finance Bill

Tax / Overseas requests to UK for tax crime help up 44%

Requests from foreign prosecutors to the UK for help with criminal tax investigations have gone up by 44% in the past year

Tax / Savers face pension tax relief breaches

Hundreds of taxpayers could face unexpected tax bills for failing to declare pension contributions accurately on their self assessment returns

Tax / Q&A: inheritance tax for trustees selling assets

In our regular Q&A series from Croner Taxwise, David Woolley examines whether trustees pay inheritance tax on assets when closing accounts

Tax / Scammers target taxpayers with bogus demands

HMRC is warning taxpayers to be aware of fraudsters in the run up to the 31 January self assessment deadline from text messages to phone calls

Tax / Off-payroll working rules: checklist for private sector employers - part 2

Liability for income tax and national insurance contributions (NICs) for contractors will move to medium to large private sector employers from 1 April 2020 under an overhaul of IR35. Andrew Brookes, head of employer solutions at Menzies LLP, explains how to get ready for the rule change

Tax / Green Party to offer universal basic income

The current benefits systems would be replaced with universal basic income (UBI) for all, says the Green Party in their manifesto

Tax / Help to Buy ISAs close on 30 November

Time is running out to open a Help to Buy ISA which could add £3,000 to buyers’ first house deposits

Tax / NHS could pay doctors pension tax ahead of hectic winter

Doctors have been promised their tax bills for higher rate pension relief could be covered by the NHS in efforts to get them working overtime shifts