Politics

Tax / Griffiths resigns as small business minister

Andrew Griffiths, MP for Burton, has resigned as small business minister in the Department for Business, Energy and Industrial Strategy (BEIS) after sending texts of a sexual nature to two female constituents

Tax / Government releases draft legislation for Finance Bill 2018-19

The government has issued draft Finance Bill 2018-19, including draft legislation for at least 33 significant measures affecting employment tax, simplification of Gift Aid, company car tax liability, Making Tax Digital penalty regime and new rules for tax under IFRS 16 Leases, reports Sara White

Tax / Bull: are tax policy and populism pulling in opposite directions?

Announcing unexpected tax changes on Budget day without prior consultation will always be open to public opposition, as has been seen in the past with the majority of unwelcome taxes being abolished just days later, explains George Bull, senior tax partner at RSM

Tax / Tax chiefs set up J5 to tackle international tax crime

HMRC has formed an alliance with tax enforcement bodies in four countries to share intelligence and expertise in the battle against international tax crime

Tax / Property tax confusion hits Bank of Mum and Dad

Attempts by the government to help first-time buyers onto the housing ladder could actually be pricing them out of the market because of anomalies in the way new stamp duty land tax (SDLT) rules operate

Tax / £56bn tax hike needed to cure NHS ills

Substantial tax rises are needed to fund the NHS as demand increases and government spending cuts take hold, according to a report from the Institute for Fiscal Studies (IFS) which suggests households could be paying an additional £2,000 in tax for the next 15 years, equivalent to an additional 10p in the pound

Tax / Cryptoassets taskforce holds inaugural meeting

The government’s new cryptoassets taskforce has had its first meeting, and is considering what, if any, regulation is required over the use of distributed ledger technology in financial services

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 / HMRC tax inspectors face review of dispute handling

MPs are set to review HMRC’s approach to conducting tax enquiries, resolving tax disputes and assessing tax liability to see if it HMRC inspectors are dealing with cases fairly and in an even-handed manner, with submissions requested by the end of this month

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 / £10,000 citizen’s inheritance to support under 25s

A so-called citizen’s inheritance one-off payment of £10,000 to all 25-year olds, halving stamp duty land tax (SDLT) for all first-time buyers and introducing national insurance contributions (NICs) on pensioners’ salaries all form part of a new ‘generational contract’ proposed by the Resolution Foundation to tackle ongoing issues with unaffordable housing

Tax / Tax resisters remembered in 100-year commemoration of women’s suffrage

Today sees the official unveiling of a statue of women’s rights campaigner Millicent Fawcett, 100 years after women were granted the vote, which will include the names of several members of the Women’s Tax Resistance League whose role in the fight for female suffrage is being highlighted by the Association of Taxation Technicians (ATT)

Tax / Hammond wants global action on money laundering

Chancellor Philip Hammond is calling for a global crackdown on dirty money used to fund rogue regimes and illicit activity, with demands for more effective sanctions on North Korea and greater IMF scrutiny

Tax / 75% of MPs call for increase in HMRC funding

Two out of three MPs believe that government should be clearer on its tax strategy, while three-quarters have called for increased investment in HMRC, according to research from the Association of Accounting Technicians (AAT) and ACCA

Tax / Government dispenses additional £15m from tampon tax fund

The government has announced the list of charities and good causes which will benefit from £15m of funding from the latest round of the tampon tax fund, bringing the total handed out to £47m
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