Tax compliance

Tax / Fat tax on table to tackle holiday hunger

In the wake of the campaign for free school meals during the summer holidays, RSM’s Chris Etherington looks at what other options are on the menu to tackle childhood hunger

Tax / Blick Rothenberg: Bleak winter to follow summer statement

The chancellor’s moves on job retention bonuses and VAT cuts could be delaying the inevitable failure of many companies, says Blick Rothenberg’s Nimesh Shah

Tax / Q&A: is VAT recoverable from electric cars?

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins explores whether VAT is recoverable on the purchase of an electric car, and the input tax implications on usage of a green vehicle

Tax / Scotland to cut Land and Buildings Transaction Tax

The Scottish government is to cut the rate of its devolved Land and Buildings Transaction Tax (LBTT) from this week, after Chancellor Rishi Sunak announced a limited time reduction in stamp duty land tax (SDLT), as part of plans to revitalise the housing market

Tax / HMRC CEO’s warning over job retention bonus

HMRC CEO Jim Harra has challenged the Chancellor over the Job Retention Bonus Scheme set out in this week’s summer economic update, saying that the £1,000 bonus to be paid to employers who bring back furloughed staff may not be cost effective

Tax / Tax gap of £31bn shows downwards trend

The tax gap, which is the difference between tax that should be paid and what is actually paid, has fallen to 4.7%, its lowest recorded rate, according to HMRC estimates

Tax / Chancellor urged to go further with Covid-19 support

Early reaction to the Chancellor’s summer update of measures to combat the economic challenges posed by Covid-19 has been largely positive, although there has been surprise at the lack of support for some badly affected sectors such as retail and aviation

Tax / Summer update: Chancellor offers job funding, VAT cuts and eat out discounts

Just four months after his first Budget, Chancellor Rishi Sunak has unveiled a summer economic update designed to mitigate the impact of the Covid-19 pandemic, with a commitment to encouraging job creation through a government ‘plan for jobs’ and stimulus for consumer spending

Tax / HMRC drops benefit in kind charge on Covid-19 tests

HMRC has been forced into a rapid U-turn after publishing guidance indicating that employees would face a taxable benefit in kind when their employer pays for coronavirus testing, following an outcry from MPs

Tax / Chancellor’s plans to reset economy post-Covid

Chancellor Rishi Sunak is to deliver a ‘summer economic update’ tomorrow, 8 July, outlining the government’s plans to support the economy through the first phase of recovery from the coronavirus crisis, with likely options including temporary tax cuts, funding for green projects, and job creation schemes

Tax / Q&A: land acquisition VAT recovery

In our regular Q&A series from Croner Taxwise, VAT adviser, Priyesh Mistry explores the VAT implications on the acquisition of land and the additional work carried out to repurpose that land for a car park, how much input tax can be recovered?

Tax / Covid-19: VAT cut on PPE extended

The Treasury has extended the temporary scrapping of VAT on personal protection equipment (PPE) until the end of October, with the move expected to save £155m for care homes and businesses dealing with the coronavirus outbreak

Tax / HMRC shifts guidance on public access to national treasures

Covid-19 has prevented access to land and property of significant national value, but HMRC is granting owners leeway over its tax incentive scheme, say Withers’ Charlie Tee and Louise Williamson

Tax / Private sector IR35 reforms given go ahead for April 2021

Reforms to the off-payroll working rules, which will see them extended to the private sector next year, are to go ahead as planned after an amendment to the Finance Bill proposing a two-year delay was defeated in the House of Commons

Tax / Automatic tax information exchange unearths €10 trillion offshore

Levels of automatic exchange of data between tax authorities almost doubled last year, uncovering €10 trillion in offshore assets, according to the OECD which says this is a ‘game changer’ in the fight against tax evasion