Business tax

Tax / Dodwell: sounds like an online tax for multinationals

Bill Dodwell, senior policy adviser at the Office of Tax Simplification (OTS), examines the controversial digital services tax on giant online multinationals and considers what tax other countries will introduce as a result

Tax / 10 things charities need to know about Gift Aid

Helen Elliott, partner at Sayer Vincent, looks at the 10 most important things about Gift Aid for charities to keep in mind, including the restrictions on who is eligible to use and what kinds of benefits are excluded

Tax / HMRC penalties for CFOs under SAO regime rise

HMRC is issuing significant numbers of personal penalties to senior financial executives at big businesses under the senior accounting officer (SAO) regime

Tax / Leading institutes back Lords call for MTD delay

A recommendation by a Lords committee that the government’s introduction of mandatory Making Tax Digital (MTD) for VAT should be delayed by at least one year is supported by the Low Incomes Tax Reform Group (LITRG), CIOT and the ICAEW

Tax / 30 months to build Brexit IT systems, HMRC tells committee

Appearing before the Treasury committee, senior HMRC figures including Jon Thompson admitted that building post-Brexit IT systems could take longer than two years, and defended HMRC’s approach to tackling disguised remuneration arrangements

Tax / Lords call for delay in Making Tax Digital for VAT until 2020

A Lords committee has issued a scathing report on HMRC’s Making Tax Digital (MTD) for VAT program, due to come into full effect in April 2019, attacking HMRC’s unrealistic timeframe, lack of communication with businesses, and failure to improve following previous criticism

Tax / Nunn: structures and buildings allowance is revamped tax relief

The announcement of the Structures and Building Allowance in the Budget marks the return of an old tax relief revamped for the modern era, says Yvette Nunn CTA, founder of Berkeley Associates

Tax / DUP silence allows Finance Bill amendments through

Divisions over the government’s Brexit agreement has caused Northern Ireland’s Democratic Unionist Party (DUP) to deliver a stinging blow by failing to back the government on amendments to the Finance Bill proposed by opposition parties

Tax / HMRC updates VAT mini one stop shop guidance

HMRC has issued updated guidance on registering for the VAT mini one stop shop (MOSS) scheme, with new information about invoicing, leaving the scheme and which return to use to declare VAT

Tax / UK ranked second in G20 for tax compliance

The UK has the second most effective tax system in the G20 for the ease of paying business taxes, with companies taking an average of 105 hours to prepare and file taxes, but remains outside the global top 20, according to research by PwC and the World Bank

Tax / HMRC gets sweet return in first six months of sugar tax

The latest statistics on turnover from the soft drinks industry levy (SDIL), commonly known as the sugar tax, show that it has been effective in reducing sugar in drinks and raising revenue following its introduction in April 2018

Tax / BHP Billiton agrees A$500m Australian transfer pricing settlement

The Anglo-Australian mining, metals and petroleum multinational BHP Billiton has reached an agreement with the Australian Taxation Office (ATO) to settle a long-running transfer pricing dispute

Tax / Q&A: off-payroll liabilities and statutory payments

Emma Fryer, payroll advisor at Croner Taxwise, looks at the responsibility of the fee-payer of an off-payroll worker and the liability to statutory payments of a personal service company

Tax / What you need to know: annual investment allowance increased to £1m

The £1m annual investment allowance (AIA) limit could translate into an effective annual limit of less than £17,000 due to straddling periods, explains Will Silsby, technical officer at the Association of Taxation Technicians

Tax / Changes to tax liabilities on termination payments create complexity

An overhaul of the rules on taxation of termination payments has directly affected the tax treatment of payments in lieu of notice (PILONs) and foreign service relief (FSR), creating complicated questions for businesses when applying them to redundancy situations. Tim Stovold, head of tax at Kingston Smith, explains