Tax

Tax / HMRC promotes online work-related expenses claims

HMRC is urging millions of employees such as nurses, hairdressers and construction workers to go online and directly check if they can claim extra cash back for work-related expenses, amid concerns they could be missing out on their full tax relief entitlement by using agencies instead

Tax / Telecoms company tops tax defaulter list owing £2.7m

HMRC’s latest list of major tax defaulters is topped by a telecommunications company owing £2.7m on £4.3m unpaid tax, followed closely by an online trader owing £2.6m, with a raft of restaurants and takeaways, as well as an accountancy service and financial instruments provider, also featuring

Tax / McDonald's Luxembourg deal did not break tax rules

A lengthy investigation by the European Commission has concluded that Luxembourg did not offer illegal state aid to McDonald’s with favourable tax treatments, and the reason for the double non-taxation was down to a mismatch between Luxemburg and US tax rules

Tax / Starbucks under fire over 2.8% UK tax rate

Starbucks has come under further fire over its tax policies after analysis showed the US chain’s European business paid just $5.9m (£4.47m) of tax in the UK on profits of $213m (£161m) last year

Tax / Buying property for the children: beware the tax risks

With soaring property prices, helping your children on to the property ladder might seem like a good idea but can be fraught with tax and other financial consequences. Liz Cuthbertson, partner at Mercer & Hole, examines the options

Tax / Making Tax Digital and rural businesses

With Making Tax Digital on the horizon, rural businesses risk being left behind and labelled as ‘non-compliant’ unless they act quickly, warns Mark Pryce

Tax / ICAEW calls for halt on IR35 extension

ICAEW has called for the government to delay its proposed roll-out of IR35 to the private sector, citing the complexity of the present situation and wider issues with the way that workers are taxed

Tax / Apple pays €14bn outstanding tax bill to Ireland

The Irish government has confirmed receipt of €14.3bn (£12.7bn) from Apple, marking full recovery of the disputed state aid offered to the tech giant, which the EU ruled was an illegal ‘sweetheart’ tax deal more than two years ago

Tax / Supreme Court flexes powers over interest in Prudential case

In Prudential Assurance Company Ltd v R & C Commrs [2018] BTC 31, the taxpayer sought (among other claims) restitution of an amount calculated as compound, and not simple, interest but the Supreme Court, in its judgment delivered in July 2018, rejected this claim. Mark Cawthron LLB CTA examines the judgment

Tax / OECD updates guidance on country-by-country reporting

The OECD’s inclusive framework on base erosion and profit shifting (BEPS) has released additional interpretive guidance to give certainty to tax administrations and multinationals on the implementation of country-by-country reporting (CBCR), which is action 13 in its plan to tackle tax avoidance

Tax / HMRC’s head of strategy leaves for Bank of England job

Nick Lodge, director general of HMRC’s strategy group, has taken up a new position with the Bank of England, after a 28-year career with the tax authority

Tax / 40% of businesses unaware of Making Tax Digital for VAT

Over 40% of businesses about to be affected by Making Tax Digital for VAT are not yet aware of it, despite the April 2019 deadline for its introduction, and 20% have made no preparations, according to research by ICAEW

Tax / Q&A: principal private residence (PPR) tax liability

When a taxpayer owns more than one property it can make sense to apply for principal private residence (PPR) with HMRC if the ownership falls within the two-year time limit. Angela Robson, tax consultant at Croner Taxwise considers the timing issues

Tax / HMRC targets inheritance tax returns

Rising house prices and increases in other assets have seen HMRC launch more investigations to ensure individuals are paying the correct amount of inheritance tax (IHT), with the number of tax probes up by 5% this year, according to analysis from UHY Hacker Young

Tax / HMRC clarifies VAT rules on domestic service charges for landlords

HMRC has published updated guidance for property management companies and others clarifying the VAT exemption for domestic service charges and what to do if it has been wrongly applied
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