Tax

Tax / Q&A: VAT and healthy staff perks

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins, looks at the VAT implications of paying for staff gym memberships and subsidised healthy meals 

Tax / What you need to know: tax changes for property owners

An overhaul of capital gains tax (CGT), halving the final period exemption and restrictions on lettings relief, not to mention possible changes to inter-spousal transfers, will have ramifications for anyone selling or renting property. Julie Butler FCA explains

Tax / HMRC advisory fuel rates for company car users from 1 March

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2020 cutting mileage rates for Diesel and Petrol vehicles with 2000cc or more by 1p per mile

Tax / Chancellor promises lenient penalties for IR35

The Chancellor, Rishi Sunak has reassured contractors that HMRC will not be ‘heavy handed’ on penalties during the first year of IR35 implementation

Tax / HMRC targets ultra-rich £700bn assets

HMRC has set up a specialist team to probe the tax affairs of ultra-high net worth individuals, as it extends efforts to crackdown on possible tax avoidance by some of the UK’s wealthiest families

Tax / Entrepreneurs’ relief should support start-up not sell-up

Entrepreneurs’ relief should be reshaped to inspire budding entrepreneurs rather than acting as a way to top up pension pots, argues Phil Hall, head of public affairs, AAT

Tax / OECD consults on reporting rules for online platform sales

The OECD plans to develop a single set of reporting rules for countries to use to collect information about sales made via online platforms to assist future tax collection

Tax / EU blacklists Cayman Islands as tax haven

The Cayman Islands has been put on an EU blacklist of tax havens, the first UK overseas territory to be named and shamed for failing to crack down on tax abuse

Tax / Nunn: tax on a dangerous cliff edge

The abolition of ESC D49 in the upcoming Finance Bill will remove a useful tax break for home owners who cannot immediately move into their homes due to late-running renovations. Yvette Nunn CTA explains

Tax / Vodafone’s Indian operation hit with £5.4bn tax bill

Telecom giant Vodafone’s Indian operations are in jeopardy following a court ruling requiring the company to immediately pay billions in unpaid tax and interest

Tax / MTD threat to farmers, warns CLA

The Country Land and Business Association (CLA) is calling for an overhaul of the tax system for rural businesses particularly in light of Making Tax Digital for income tax plans

Tax / Financial support for flood-hit areas released

The government has made thousands of pounds available to areas affected by storms Dennis and Ciara with over 100 flood warnings still in place

Tax / Termination payments – changes to NICs from 6 April 2020

The twice-delayed changes to national insurance contributions (NICs) on termination payments are finally scheduled to come into effect in April. Martin Jackson ATT, head of employment taxes at Croner-i, explains

Tax / Budget to go ahead on 11 March

The Budget is to go ahead as planned on 11 March, despite the upheaval following the resignation of Sajid Javid, new chancellor Rishi Sunak has confirmed

Tax / Tax changes see private landlord numbers slump

Tax reforms are starting to have an impact on the property investment market, with the estimated number of landlords in the private rental sector falling to a seven-year low
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