Tax / Coronavirus: essential updates for accountants, tax advisers and auditors - Part 2

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

Tax / Further deferral opportunity for self-assessment taxpayers

Following the chancellor’s Winter Economy Plan, Crowe’s Nick Latimer unpicks the implications for self-assessment taxpayers, including an extra 12 months to pay alongside other measures, but warns there are strings attached, including interest and time restrictions

Tax / Wales raises £300m in Tax Revenue

The Welsh Revenue Authority (WRA) reported £300m tax raised during the last financial year in its annual report, this is the first time the national revenue raising body has reported on delivery against its Corporate Plan 2019 to 2022

Tax / Icelandic music stars challenge tax laws

The Icelandic post-rock band Sigur Rós is calling for a review of the country’s tax laws, as its members prepare to face a second trial over charges of tax evasion, claiming there is a risk of ‘double jeopardy’

Tax / Call to improve administration of tax reliefs

Taxpayers are missing out on claims for tax reliefs because of the complexity of applying, and HMRC should enhance the functionality of digital tax accounts and streamline expenses claims to improve take up, according to a report from the Office of Tax Simplification (OTS)

Tax / HMRC’s R&D tax credit data fails to measure success

Accountants and their clients are being let down by the government’s research and development tax credit data reporting, missing the opportunity to reveal whether it works, while reducing the risk of fraud, according to ForrestBrown’s Jenny Tragner

Tax / Business warned ‘time is running out’ over Brexit planning

With around 50 working days until the end of the Brexit transition period, at which point the UK will leave the EU customs union and single market, the government is to urge business leaders to accelerate preparations for an Australia-style exit

Tax / Q&A: homeworking tax implications

In our regular Q&A series, Croner Taxwise, tax adviser, Ibrahim Nalla, explains the tax implications of buying a brand-new office pod to be installed in a company director’s garden, how will the company and director be affected?

Tax / Furlough overclaim probe threat as deadline expires

With HMRC writing to thousands of businesses warning them of investigation risk if they have incorrectly or fraudulently claimed job support grants, now is the time to get records in order, writes Philip Smith

Tax / HMRC’s tax gap estimate branded ‘misleading’

HMRC’s reporting of the ‘tax gap’ has been labelled as ‘misleading’ by the public accounts committee (PAC), which says the department should explain the limitations of its approach to calculating the difference between the tax that should be paid on the UK’s economic activity and the amount actually collected

Tax / Relocating Scots warned about tax implications

Young Scots who normally live and work in London and other UK cities, but who have given up expensive accommodation and relocated back home during the pandemic could face bigger tax bills, Blick Rothenberg is warning

Tax / HMRC opens portal for WFH expenses claims

Over 50,000 taxpayers have used a new online portal to claim tax relief for working at home during the pandemic in the first ten days of its operation, HMRC has revealed

Tax / OECD digital services tax project slows

The OECD’s plans for reaching a consensus-based global approach to taxing digital services have been delayed, with no agreement now likely before mid-2021, despite analysis suggesting up to $100bn (£77bn) is at stake annually, an update on progress has revealed

Tax / New powers to access taxpayer financial information ‘burden’

Draft legislation will give HMRC powers to request information from financial institutions without approval of the First Tier Tribunal, but could prove expensive to comply with, warns Collyer Bristow’s William Hancock

Tax / One week until ‘gloves off’ HMRC furlough investigations

It's only one week until the end of the 90 day period (Tuesday 20 October) for individuals and businesses to disclose incorrect furlough claims to HMRC, or risk HMRC probe