Politics

Tax / Government exempts Windrush compensation payments from tax

Payments made under the Windrush Compensation Scheme will be exempt from income tax, inheritance tax and capital gains tax, HMRC has announced

Tax / France faces US backlash on 3% digital services tax

France is to introduce a 3% digital services tax, the first European country to do so, and now faces the risk of retaliation from the US, which argues that the levy unfairly targets multinational tech giants

Tax / Finance Bill 2019-20 sets out £1.1bn tax grab from payroll working extension

The government has published Finance Bill 2019-20 with 17 key tax changes, including off-payroll working rules for the private sector which are expected to raise £1.1bn in the first year, extension of HMRC powers in GAAR investigations and the 2% digital services tax 

Tax / France plans green tax on airline flight departures

The French government is to introduce an ‘eco-tax’ on all outgoing flights from French airports, which is expected to bring in €180m (£162m) from 2020, to encourage a more environmentally-friendly approach to travel

Tax / Ward: inheritance tax overhaul would remove useful exemptions

Proposals to overhaul inheritance tax may look good on the surface, but it is a case of removal of complexity would lead to the abolition of some useful tax breaks like taper relief and gifting exemptions. James Ward, head of the private client team at Kingsley Napley LLP, examines the Office of Tax Simplification recommendations

Tax / Call for radical overhaul of inheritance tax and lifetime gifting

The Office of Tax Simplification (OTS) has recommended sweeping reforms of inheritance tax in a bid to reduce complexity as more people are caught by the tax as house prices soar, but has no proposals to deal with the overly complex residential nil rate band, reports Sara White

Tax / NAO warns of ‘significant’ risk to government over Help to Buy loans

The Help to Buy scheme, designed to increase home ownership, could leave the government open to ‘significant market risk’ if prices fall, and many of those using this option could have bought a property without it, a National Audit Office (NAO) report has found

Tax / G20 finance ministers commit to digital tax policy by 2020

The G20 finance ministers have signalled their support for the OECD’s ‘two pillars’ approach to tackling global tax issues, and pledged to agree on the introduction of a digital tax by 2020

Tax / BBC to scrap free TV licences for over 75s

Over three million pensioners will lose their free TV licences from next year when the BBC takes over the funding liability and limits the benefit to those receiving pension credits

Tax / Chancellor calls for global action on digital services tax

Chancellor Philip Hammond is to use today’s meeting of G20 finance ministers and central bank governors in Fukuoka, Japan to underline the need to update global tax rules to reflect the digital world as multinationals operate crossborder and base themselves in low-tax jurisdictions 

Tax / Labour considers overhaul of stamp duty regime

The Labour party is considering plans to overhaul the current stamp duty system by phasing out the charge for purchasers and increasing capital gains tax on second property sales

Tax / France tops list for providing unlawful tax breaks using state aid

The European Commission has issued warnings about more than 380 potentially unlawful tax breaks in the last five years, with France being singled out for contravention of state aid rules, as well as low-tax jurisdictions like Ireland, Netherlands and Luxembourg

Tax / France close to launching 3% digital services tax

France is likely to introduce a digital services tax after the Senate voted heavily in favour of the government’s plans, although with an amendment that the tax should only be a temporary measure for three years

Tax / Norman replaces Stride as financial secretary to Treasury

In the latest Cabinet reshuffle, transport minister Jesse Norman has been named as financial secretary to the Treasury, as previous minister Mel Stride becomes leader of the House of Commons after the resignation of Andrea Leadsom

Tax / Mazars ordered to hand over Trump accounting records

Following a federal court ruling, Mazars US has been given seven days to provide President Donald Trump’s accounting records to a Congressional committee which is investigating his business dealings
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