Tax

Tax / Coronavirus: essential updates for accountants, tax advisers and auditors - Part 3

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 / EU tax information exchanges fail to reach potential

Gaps in the exchange of tax data in the EU may encourage tax avoidance and evasion, according to a report from the European Court of Auditors (ECA)

Tax / Tax and electric vehicles: what you need to know

Stephen Relf, senior tax writer at Croner-I, examines the tax implications of buying electric vehicles and the impact of first year allowances (FYA)

Tax / Call to increase self-employed tax rate

The tax regime should be overhauled in order to encourage investment in companies and risk taking and reduce the tax incentives for self-employment, according to a study by the Institute for Fiscal Studies (IFS)

Tax / Updated HMRC customer charter: what does it mean for you?

With the self assessment tax deadline on the horizon, the revamped HMRC charter spells out changes for businesses and individuals. Anne Davis of the Institute of Financial Accountants examines the changes

Tax / Q&A: top five Brexit questions from our VAT helpline

In our regular Q&A series, Croner Taxwise, VAT advice consultant, Sally Atkins, explores the most answered Brexit questions from the VAT advice helpline, covering tax on sales, B2C services and more

Tax / HMRC to waive self assessment penalties for one month

Self assessment taxpayers will not receive a penalty for their late online tax return if they file by 28 February, HMRC chief executive Jim Harra has announced

Tax / EU tax haven list ‘ineffective’

The European Parliament has called the current EU list of tax havens ‘confusing and ineffective’, claiming it is not catching the worst offenders and should apply more stringent assessments

Tax / Issues with Making Tax Digital for corporation tax

HMRC has launched its MTD for CT consultation but the proposals could well prove challenging. Russell Gammon, chief innovation officer, Tax Systems, looks at the potential sticking points

Tax / Self assessment scam warning

With just a week to go until the 31 January tax self assessment deadline, scammers posing as HMRC are using various scams to try to defraud people, ICAEW has warned

Tax / High income child benefit charge hits basic rate taxpayers

The Low Incomes Tax Reform Group (LITRG) is calling for the high income child benefit charge (HICBC) threshold to rise to avoid it hitting basic-rate taxpayers for the first time in April

Tax / HMRC penalties double in six months

The value of penalties HMRC is imposing on taxpayers each month shot up in the last six months, following the lull in compliance activities during the first lockdown, according to analysis by tax investigation insurance specialist PfP

Tax / MPs slam HMRC’s out of date tech

MPs have criticised HMRC’s response to the Covid-19 crisis, claiming some groups of taxpayers have been unfairly excluded from support packages, while the department’s strategy for property and IT systems has been shown to be wanting

Tax / Call for HMRC to extend self assessment deadline

ACCA has added its voice to calls for HMRC to extend the deadline for self-assessment tax returns on January 31, with the professional body warning that failure to do so could land millions of hard-hit entrepreneurs with fines totalling £250m

Tax / Filling in your self-assessment forms: useful tips

As the self assessment tax deadline approaches, Jamie Morrison, partner and head of private client at HW Fisher, sets out tips and advice for taxpayers
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