Tax / Gaines-Cooper and the implications for domicile

Dating back to the 1990s, the argument over Robert Gaines-Cooper’s domicile status is back in court, reminding high net worth individuals about the importance of keeping up to date with changes in tax avoidance legislation, warns international tax barrister Leon Fernando Del Canto

Tax / VAT updates: December 2019

In this month’s VAT updates, Graham Elliott, director at City & Cambridge Consultancy, considers when an employment bureau can and cannot be a joint employer, whether a community amateur sports club can be a charity and the impact of trying to backdate a flat rate scheme application

Tax / Tax updates: December 2019

In this month’s tax news, Gaines-Cooper returns to court, Higgins wins CGT claim, TV presenter Fospero and IT contractor in IR35 decisions, R&D tax credit claim fails and general election pushes back Finance Bill

Tax / Tax data: CGT data, HMRC rates of interest - Dec 2019

Download the current HMRC CGT indexation allowance unchanged since December 2017, RPI index for October 2019, HMRC rates of interest, and property tax rates including SDLT, Scottish LBTT and Welsh LTT

Tax / EU forced to back down on plan for tech giant tax transparency

Twelve members of the EU’s European Council have voted against plans to introduce tough tax laws to force multinationals to disclose their profits and tax liability in each EU member state

Tax / Labour and Conservative spending plans unrealistic says IFS

The Labour pledge to not raise taxes is ‘clearly not true’, the same Tory promise is doubtful as their plans would result in ‘taxing or borrowing more’

Tax / Consultations: Dec 2019

This month's HMRC and Treasury consultations focus on simplification of partial exemption and capital goods scheme and cross-border tax disclosure rules affecting intermediaries and tax advisers

Tax / VAT receipts hit record £133bn

The amount of VAT collected in the last year has risen by 5.3% to a record £133bn driven by the wholesale and retail sectors, despite widespread VAT evasion

Tax / Ban on bearer shares helps recover billions in evaded tax

Global action by OECD countries to reduce tax evasion has resulted in a 24% global reduction in foreign-owned bank deposits held in international financial centres (IFC)

Tax / Overseas requests to UK for tax crime help up 44%

Requests from foreign prosecutors to the UK for help with criminal tax investigations have gone up by 44% in the past year

Tax / Germany takes action over €440m tax fraud

The German finance ministry is to set up a new special unit to tackle large-scale tax fraud in the wake of the so-called Cum-Ex case, which has seen two British investment bankers on trial for their part in an alleged €440m fraud using complex financial transactions to engineer tax losses

Tax / Scotland consults on tourist tax

The Scottish government is consulting on plans to introduce a tourist tax to  enable local authorities in Scotland to apply a visitor levy on short-term overnight stays

Tax / Payroll complexity: avoiding the pitfalls

Convoluted payroll tax rules from compliance with national minimum wage to real time reporting and IR35 are making PAYE compliance increasingly difficult. Neil Cameron, payroll senior manager at Chiene + Tait, examines potential pitfalls and calls for higher standards of training for payroll teams

Tax / SNP plans to stop Brexit and protect whisky

The SNP want to reduce tax on whisky sales, close tax avoidance loopholes and invest oil and gas revenue into building greener infrastructure

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

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 December 2019 cutting standard 1600cc minus mileage rates by 1p per mile to reflect lower fuel costs