Business tax

Tax / Mid-sized businesses do not see tax compliance as priority

Mid-sized businesses do not see tax planning and compliance as a major priority for their businesses but more part of the everyday running of the business, with heavy reliance on accountants and tax agents to handle their tax affairs

Tax / Bull: will US/French deal derail UK digital services tax?

George Bull, senior tax partner at RSM, asks whether France’s commitment to refund part of its digital services tax to the US tech giants will scupper the UK’s efforts to introduce a 2% digital tax

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

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2019 cutting standard 1400cc plus mileage rates by 1p per mile to reflect lower fuel costs

Tax / Collecting tax from insolvent businesses

Meg Wilson CTA examines the proposals to change the rules to allow HMRC to recover more money from insolvent businesses, including reverting to secondary preferential creditor status

Tax / Using capital allowances for tax relief on business expenditure

Confusion and lack of knowledge about capital allowances discourages many business owners from using this essential tax relief worth up to £1m. David Redfern, director of DSR Tax Claims explains the qualifying criteria for the £1m annual investment allowance (AIA)

Tax / Four Quick Fixes to VAT on intra-EU movement of goods

Businesses need to prepare for the EU’s Four Quick Fixes, the latest attempt to refresh the VAT system for intra-EU movement of goods, effective from January 2020. Rob Janering, associate director at Accordance explains the impact on supplies when call-off stock arrangements and chain transactions take place

Tax / VAT Q&A: qualifying cars and input tax recovery

In our regular Q&A series, Croner Taxwise VAT adviser Janis Kirkham considers whether a car bought for business use actually falls within the qualifying rules for VAT recoverability

Tax / Tax investigations yield hits £13bn

HMRC saw actual cash collected from all tax investigations hit £13bn in 2018/19, up 27% from £10.3bn in 2017/18, while transfer pricing fines for multinationals have hit a record £413,000 

Tax / One in 10 businesses miss MTD for VAT filing deadline

An estimated 120,000 businesses have missed the deadline to sign up for Making Tax Digital for VAT, meaning that technically they should be due a penalty from HMRC

Tax / Retailers demand fix to ‘broken’ business rates

The government is under pressure to take action on business rates, with over 50 major retailers supporting recommendations designed to fix what they describe as ‘the broken business rates system’  

Tax / HMRC wins £15m Hargreaves Lansdown loyalty bonus case

HMRC has successfully overturned a ruling on the tax status of ‘loyalty bonus’ rebates made by fund management platform Hargreaves Lansdown, with the result that over 150,000 investors are no longer in line for a £15m repayment windfall

Tax / UK digital tech businesses want tax streamlined

The UK’s digital tech businesses are positive about tax compliance but struggle with the complexity of some requirements, notably VAT and employment taxes, according to HMRC research

Tax / Nunn: tax breaks may speed up adoption of electric cars

As tax on company cars escalates, Yvette Nunn asks whether there will be a revival of interest in the benefit when the government removes company car tax from lower emission vehicles in 2020

Tax / Government gives £1.1bn tax relief to film, TV and creative industries

A total of £1.1bn was paid out in creative industries tax reliefs in 2018-19, a 22% increase on the previous year’s figure of £900m 

Tax / FTSE 100 has £4.5bn at risk in tax disputes

FTSE 100 companies have up to £4.5bn at risk from tax disputes, most commonly arising from changes in legislation in emerging markets, according to research by Thomson Reuters
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