Tax

Tax / Consultation on possible new carbon emissions tax

The government is consulting on the operation of the new carbon emissions tax that could be introduced after the end of the Brexit transition period, in the event no linked UK Emissions Trading System (UK ETS) is agreed with the EU

Tax / HMRC wins IR35 appeal at Upper Tribunal

HMRC has won a significant Upper Tribunal appeal over the use of personal services companies (PSCs) by broadcasters, with the overturning of a previous ruling on the tax status of radio presenter and comedy writer Paul Hawksbee under IR35 regulations 

Tax / Treasury consults on pensions tax relief administration

The Treasury is consulting on how to plug a loophole in the way pensions tax relief operates, which means around 1.75m lower paid workers saving in a pension may end up in differing financial positions depending on how their scheme is administered

Tax / Fullelove: post-pandemic tax probe needs greater public debate

Following the launch of the Treasury committee’s enquiry into the tax system after coronavirus, Croner-i expert Glyn Fullelove sets out the issues, from wealth and digital taxes to the nature of employment and the three-person problem

Tax / Complex admin requirements of temporary VAT rate cut

With some businesses now facing three or even four different VAT rates, Crowe’s Robert Marchant unpicks the implications of the temporary reduction, assessing the impact of further tax compliance for the hospitality and tourism industries

Tax / HMRC sets up scheme for loan charge refunds

HMRC has published guidance on how it will administer the disguised remuneration repayment scheme, offering refunds to taxpayers who made voluntary payments of income tax or National Insurance prior to a change in the rules regarding the loan charge

Tax / Q&A: qualifying for Principal Private Residence Relief

In our regular Q&A series from Croner Taxwise, tax adviser, Sohail Butt explains how much of the gain will qualify for Principal Private Residence Relief when selling a property

Tax / ‘Fundamental’ overhaul of business rates in view

The government has announced a call for evidence for the fundamental review of the business rates system, seeking views on issues to be addressed, ideas for change and alternatives which could include an online sales tax

Tax / Greece set to lure pensioners with 7% income tax

Greece is looking to woo foreign pensioners – including British retirees – by introducing a single tax rate of 7% for those shifting their tax residence to live in the country

Tax / HMRC seeks views on tackling disguised remuneration tax avoidance

HMRC has opened a wide-ranging call for evidence on the continuing use of disguised remuneration (DR) tax avoidance schemes, seeking views on its approach, any variations which are not covered by existing legislation, and suggestions for further action

Tax / HMRC launches Turkish tax probe at Ladbrokes owners

GVC Holdings (UK) Ltd, the FTSE 100 group which owns betting brands Ladbrokes and Coral, has revealed HMRC is conducting a probe into the group’s former Turkish online gambling business

Tax / One week to tax credits renewal deadline

HMRC is warning taxpayers who claim tax credits they have just one week left to tell HMRC about changes to their circumstances or income before the renewal deadline on 31 July, or risk incorrect payments

Tax / Tax impact of Covid-19 on company cars

While there has been no tax break on company cars that have sat on the drive during the pandemic, a rebate on fuel benefits is still possible, according to RSM’s Chris Etherington

Tax / Finance Bill 2020-21: changes to working time requirements for Enterprise Management Incentives

Finance Bill 2020-21 includes amendments to ensure that individuals will keep the tax advantages of the enterprise management incentives (EMI scheme) if they have either been furloughed or had their working hours reduced below the current statutory working time requirement for EMIs because of coronavirus

Tax / Finance Bill 2020-21: corporate interest restriction rules amended

HMRC has announced technical changes to interest restriction rules ‘to make sure the regime works as intended’ in line with the OECD’s Base Erosion and Profit Shifting (BEPS) framework
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