Tax planning

Tax / MPs critical of Motability’s £2.4bn reserves

MPs are calling for an overhaul of the finances at Motability, the body which provides access to vehicles for people with disabilities, after a joint Parliamentary committee report found its reserves of £2.4bn are ‘out of proportion’ to the risks it faces and branded the CEO’s £1.7m salary ‘totally unacceptable’

Tax / Royal wedding bells ring in tax liabilities

As the world gears up to celebrate tomorrow’s exchange of vows between Prince Harry and Meghan Markle, the UK stands to see a big boost to weekly retail sales, but there are warnings of the dangers of ignoring the tax implications for those seeking to cash in on the royal wedding, whether by renting out rooms or offering impromptu hospitality

Tax / IR35 rules make it harder to recruit public sector contractors

With a number of IR35 public sector cases going against HMRC, the tax authority has released research showing that the majority of public sector employees are now up to speed with the rules although nearly 40% report difficulties filling specialist vacancies as a result of the rule change

Tax / Government aims to extend IR35 off-payroll working rules to private sector

Private sector companies are likely to be drawn into the IR35 off-payroll working rules as the goverment ramps up its plans to curb the use of personal service companies and launches a consultation on extending existing ‘off-payroll’ working rules into the private sector to address a claimed £1.2bn a year in lost tax take, reports Pat Sweet

Tax / Public sector contractor beats HMRC over IR35 case

There is continuing confusion surrounding HMRC’s application of the IR35 rules regarding disguised employment, after an IT contractor who challenged a £26,000 tax bill arising from work on a Department for Work and Pensions (DWP) project won his appeal at a First Tier Tribunal (FTT)

Tax / Online gambling tax rise to offset betting terminal stake cut

The government’s decision to cut the maximum stakes on fixed odds betting terminals (FOBTs) from £100 to £2 is likely to result in a hit to the estimated £450m tax take from the machines each year, with the Treasury looking to increase taxes on online gambling to address the shortfall

Tax / EU go-ahead for enterprise management incentive (EMI) tax break

The EU has breathed new life into a £380m scheme designed to broaden SME employee ownership in the UK by renewing EU state aid approval for the enterprise management incentive (EMI) scheme, which lapsed last month

Tax / HMRC tax inspectors face review of dispute handling

MPs are set to review HMRC’s approach to conducting tax enquiries, resolving tax disputes and assessing tax liability to see if it HMRC inspectors are dealing with cases fairly and in an even-handed manner, with submissions requested by the end of this month

Tax / Royal wedding raises tax issues for Meghan Markle

Tax may be the last thing on Meghan Markle’s mind in the run-up to the royal wedding on 19 May but in the next few months she needs to spend time sorting out the tax position brought about her new found royal status, warns Blick Rothenberg

Tax / UK second to Ireland in tax competitiveness

Ireland remains the most competitive tax regime in the world, but the UK is close behind, according to analysis from KPMG

Tax / Plan to change tax for short-term business visitors

HMRC is consulting on ways to improve the tax and administrative treatment of short-term business visitors from overseas branches, with a view to reducing the administrative cost and burden, and making the UK a more attractive place to headquarter and do business

Tax / Digital economy: the Pandora’s box of international tax

EU plans to introduce digital taxation on the revenues of multinational technology companies are likely to face strong resistance as it considers amending the definition of a permanent establishment (PE) to include the concept of ‘virtual PE’. Rozi Ellis, associate at Milestone International Tax, considers the proposals 

Tax / Warning on VAT when disposing of assets from historic houses

HMRC has updated the rules on disposals of assets from historic houses within the scope of VAT, with guidance which cancels and replaces the previous notice from January 2002

Tax / Enterprise Investment Scheme (EIS): tax tips and pitfalls

Jonathan Amponsah, CEO and founder of the Tax Guys, outlines the pros and cons for investors when entering an Enterprise Investment Scheme (EIS) as well as the various compliance issues to claim the tax relief

Tax / Speakers confirmed for Fair Tax Conference on tax transparency

The Fair Tax campaign has announced the speakers for its June conference, when leaders from FTSE 100 companies, MPs, economists and tax campaigners will debate tax transparency