One in 10 (13%) mid-sized businesses who have reviewed their initial furlough claim found it to be incorrect, according to research from Grant Thornton
The latest HMRC guidance on the tax treatment of cryptocurrency comes without any legislation underpinning it, warns tax and advisory firm Blick Rothenberg
Meg Wilson, tax writer at Croner-i, examines the points-based late filing penalty regime being introduced in Finance Bill 2021 for VAT and income tax submissions
From 1 April 2021, UK VAT registered businesses will face more Making Tax Digital (MTD) obligations. Scott Craig, partner and head of VAT at Azets, explains the key changes and penalty system
As the end of the tax year fast approaches, Kevin Sefton, CEO of untied, the personal tax app, sets out the 10 steps to ensure you reduce your tax liability
In this week’s Q&A, Priyesh Mistry, VAT advisor at Croner Taxwise, considers whether VAT can be reclaimed on gifts from a client received by a supplier
The Chartered Institute of Taxation (CIOT) is calling for specific reforms to the taxation of trusts despite the government pulling back from a wholesale review of this area
The US is considering taking action against a number of countries including the UK due to use of digital services taxes which primarily hit giant multinationals such as Amazon and Google
Business rate payers adversely affected by Covid-19 are to get a £1.5bn discount on their bills but will not be able to claim for material change of circumstance to reduce rates bill
From 1 April, companies will have to report VAT payments electronically via software to comply with the Making Tax Digital (MTD) for VAT rules, following a year’s delay due to the pandemic
The latest HMRC research report into adoption costs of Making Tax Digital (MTD) for VAT has highlighted the range of costs for businesses moving to digital reporting
As part of the government’s 10-year strategy to modernise the tax administration system, it is considering whether to change current tax payment timings in a move to more frequent, in-year tax calculation and payment
The government is consulting on options to consider how Air Passenger Duty (APD) could support regional connectivity, alongside the commitment to reach net-zero emissions by 2050, but has ruled out plans for a frequent flyer levy
Following recommendations by the Office of Tax Simplification, the government will reduce administrative burdens for those dealing with inheritance tax
From 1 April non-resident property purchasers will have to pay an additional 2% stamp duty land tax charge on purchases, explains Zigurds Kronbergs, specialist tax writer at Croner-i
