Business tax

Tax / OECD digital tax for multinationals criticised over double taxation risk

OECD plans to radically change the global tax framework to introduce a unilateral approach to taxation of digital services have been criticised over the broad reach of the proposals, risks of double taxation and potential to be the first step towards turnover tax, reports Sara White

Tax / France moves to impose 3% digital tax

France is set to introduce a digital tax of between 3% and 5% on the French revenue of large internet companies, which could see some 30 tech giants paying around €500m (£429m) annually, if planned legislation is passed

Tax / Tax updates: March 2019

In this month’s round up of tax developments, Harry Potter star loses appeal, HMRC fines homeless man, landmark overseas powers case, July deadline for first MTD, child benefit eligibility warning, Brexit VAT expenses deadline, probate fees hike

Tax / Notts County football club facing HMRC winding up petition

Notts County football club, currently languishing at the bottom of League Two, has revealed the club has been issued with a winding up petition from HMRC over unpaid tax

Tax / Filing deadlines: Mar - Jul 2019

The key HMRC filing deadlines from February to July 2019 including payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge, effective start date for mandatory Making Tax Digital for VAT from 1 April with 1 July onwards for initial VAT payments, plus last day of 2018/19 tax year and deadline for various tax claims and elections

Tax / Q&A: ultra-low emission vehicles and tax rates

In our regular Q&A series, Croner Taxwise adviser Faz Zaheer outlines the company car tax bands and rates for 2020-21, highlighting how they favour ultra-low emission vehicles (ULEVs)

Tax / HMRC loses car lease benefit in kind tax tribunal appeal

The two directors of a haulage company have won a tribunal appeal against HMRC’s claim that they had not paid the correct income tax on the use of leased company cars and the use of fuel cards, after the judge ruled payments from the directors’ loan account should be taken into consideration

Tax / How to avoid 12 tax mistakes entrepreneurs make

Building a business may take most of your time but it is important to make sure you are making the most of the thousands of pounds of potential tax relief and allowances claimable every tax year. Jonathan Amponsah CTA FCCA, founder and CEO of the The Tax Guys, highlights some common mistakes and ways to mitigate an unnecessary tax bill

Tax / Court reverses Belgian state aid tax decision

A European Commission ruling that Belgium’s ‘excess profit’ tax scheme amounted to €700m of illegal state aid to Belgian subsidiaries of multinational companies has been overturned in the highest EU court, on the grounds that it was an umbrella scheme and not clearly defined

Tax / MPs want tax changes to support high street retailers

MPs are backing changes to the tax regime to halt the current decline in high streets and town centres and allow them to flourish in the future, which could include reforms to business rates, a new sales tax and ‘green taxes’ on packaging and deliveries

Tax / What does 'reasonable excuse' mean to the taxman?

A number of tax tribunal decisions every year revolve around HMRC’s interpretation of reasonable excuse, but it is the Upper Tribunal decisions which are important to watch. Meg Wilson CTA, specialist tax writer at Croner-i Tax and Accounting, examines the options for taxpayers considering an appeal and use of the reasonable excuse defence

Tax / Call for 1p levy on fast fashion retailers

MPs are calling for a 1p producer responsibility charge for fashion retailers and say taxation should also be reformed to reward companies that offer clothing repairs and reduce the environmental footprint of their products

Tax / £47m support for developing countries to improve tax systems

The government is to offer developing countries a £47m package of support aimed at improving tax systems in a move aimed at helping end their reliance on aid, the Department for International Development (DFID) has announced

Tax / Consultation on tax regime to curb plastic packaging production

The Treasury and the Department for Environment, Food and Rural Affairs are consulting on proposals first announced at Budget 2018 to introduce a new tax on the production and import of plastic packaging with less than 30% recycled content, in a bid to encourage greater reduction in the use of plastic

Tax / OECD consults on digital tax rule changes

The OECD has opened a public consultation on its ‘milestone’ proposals for changes to the taxation regime in response to the digitalisation of the economy, which include revisions to the arm’s length principle and a focus on taxing profits where they are derived