Tax compliance

Tax / 'Discovery' decision may make it harder to obtain tax return certainty

Comments made by Court of Appeal judges in a recent case relating to 'discovery' assessments have potentially made it harder to obtain certainty that HMRC cannot go back and challenge a tax return, by raising  issues around what constitutes a ‘deliberate’ error by the taxpayer, according to Pinsent Masons

Tax / UK most expensive country to send expatriates

The UK has overtaken Japan as the most expensive location to send expatriates, despite salaries remaining static, because of increases in tax and essential costs, including housing

Tax / EY alliance with Thomson Reuters on digital tax services

EY is teaming up with Thomson Reuters to develop leading-edge, digitally enabled tax services targeted at mulitnationals operating across tax jurisdictions

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

Tax / Disincorporation pros and cons: limited company versus sole trader

Stephen Relf ACA CTA examines the pros and cons of setting up a limited company versus operating as a sole trader, and assesses the critical tax compliance issues when planning a disincorporation

Tax / Q&A: pension deductions and tax relief at source

In our regular Q&A series, Croner Taxwise experts explain how to deal with pension opt outs in terms of relief at source and net pay pension schemes when auto enrolment and opt out spans a tax year

Tax / Editor’s comment: taxing empty property and curbing money laundering

UK property will not be a safe haven for money laundering in the near future if the government presses ahead with plans to create a register of ownership by offshore investors, but perhaps a more robust government position on taxing empty property would encourage the buy-to-leave investors to rethink their plans, argues Sara White, editor of Accountancy Daily

Tax / Proposed property anti money laundering rules too weak

Loopholes in proposed legislation designed to prevent money laundering through the UK property market need to be addressed if it is to be fully effective, a joint select committee has warned

Tax / Taxman eating away at tax evasion in restaurant sector

HMRC is ramping up a campaign targeting restaurants and takeaways as financial stress makes tax evasion more tempting for smaller operators, according to analysis from BDO

Tax / Majority unaware of gifting rules and inheritance tax

Only one in four people making financial gifts are aware of the risks of inheritance tax (IHT), highlighting the threat of unexpected tax bills for gifters for non-compliance, reports Sara White

Tax / Small business review calls for PAYE and tax agent change

The Office of Tax Simplification (OTS) is calling for a root and branch review of the PAYE system to make it easier for tax agents to view data on their small business clients held by HMRC, while it also needs to pay more attention to the needs of small business when developing new IT systems, reports Pat Sweet

Tax / FTSE 250 Cobham in £70m one-off tax payment

FTSE 250 aerospace and defence company Cobham has agreed to make a one-off tax payment of £55m, plus an interest payment of £14m, to settle a long running dispute with HMRC

Tax / HMRC toughens position on use of offshore trusts to avoid tax

HMRC is cracking down on the use of disguised remuneration and contractor loans after winning two tax avoidance cases at the tax tribunal over use of offshore trusts to avoid tax and NICs

Tax / What you need to know: diverted profits tax – part 2

In the second of a three part series on the diverted profits tax (DPT), Mark Cawthron LLB CTA, tax writer at Croner-i considers recent developments from UK implementation to interaction with OECD Base Erosion and Profit Shifting (BEPS) rules

Tax / Mix-up sees Welsh taxpayers charged Scottish rates

HMRC’s difficulties in handling devolved income tax regimes continue, as it has now admitted that some Welsh taxpayers have been given Scottish income tax codes by mistake by their employers so they will be paying the wrong tax
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