Business tax

Tax / Q&A: company bad debts

In our regular Q&A series from Croner Taxwise, tax adviser, Laura Burrows CTA explains the tax consequences which apply if a businesses debtors are unable to pay their debts

Tax / One chance for post-pandemic tax reform

As the UK begins to plan for economic recovery, RSM’s George Bull looks at how a public debate will influence tax reform, calling for certainty, simplicity and fairness

Tax / Covid-19: property transactions slump by half

The estimated number of residential property transactions in April was 53.4% lower than April 2019 and 46.1% lower than the previous month this year, as coronavirus restrictions brought the housing market to a halt, HMRC statistics reveal 

Tax / Super rich earners receive a sixth of all UK income

The UK’s top 1% of the ‘super rich’ received a far greater, and faster growing, share of the nation’s income pre-crisis than previously thought, if capital gains are included in official statistics, according to new research

Tax / VAT updates: May 2020

In this month’s VAT updates, Graham Elliott considers costs of staging productions and taxable supplies of catering in the Royal Opera House case, historical VAT claim at NHS Lothian and refurbishing an empty dwelling

Tax / Q&A: restaurants providing delivered takeaway

In our regular Q&A series from Croner Taxwise, VAT adviser, Priyesh Mistry explains the VAT implications of restaurants providing a delivery service, whether they need to account for standard rate VAT and the liability of the delivery fee

Tax / Augean seeks £11m landfill tax repayment

Augean, one of the UK's leading specialist waste management businesses, is seeking to claw back £11.1m of landfill tax it has paid, following successful legal challenges to HMRC rulings brought by other operators

Tax / Covid-19: rules on home office expenditure relaxed

The government has bowed to pressure to address the additional costs of working from home during the coronavirus crisis, and has announced a temporary tax exemption and National Insurance disregard to ensure that home office equipment purchase by employees will not attract tax and NICs liabilities where reimbursed by the employer

Tax / Covid-19: 64% of SMEs unable to pay deferred tax

Two thirds of SMEs may not be able to pay their deferred tax liabilities in six months’ time, while many are still waiting to access government grants and loans, a poll by ACCA has found

Tax / VAT updates: April 2020

In this edition of VAT updates, Graham Elliott considers HMRC’s VAT easements, a suppression of sales case and the challenging concept of fiscal neutrality

Tax / Nunn: HMRC should delay principal home CGT changes

Yvette Nunn, Berkeley Associates director, looks at possible fallout from Covid-19, including capital gains changes for homeowners, help for the self employed and how identifying ‘shopping’ on bank statements could make a difference

Tax / Covid-19: inconsistent VAT reliefs create business confusion across EU

While deferred VAT payments has been used by governments in Europe to ease the financial burden of struggling businesses in their own countries, an inconsistent approach is creating a confusing picture, argues Accordance’s Andy Spencer

Tax / Opera house loses input VAT appeal over ice cream sales

 HMRC has won an Upper Tribunal appeal over a bid by the Royal Opera House to include ice cream and champagne sales at the venue when recovering VAT input tax associated with its production costs

Tax / Denmark and Poland ban covid-19 grants for multinationals based in tax havens

Denmark and Poland are the first EU countries to refuse to pay taxpayer funded grants to giant multinationals with head offices registered in tax havens, reports Pat Sweet

Tax / Covid-19: Branson told BVI lockdown hideaway not a collateral asset

Multimillionaire Sir Richard Branson has been told that the government is not prepared to hand out a £500m bailout loan for Virgin Atlantic, the airline in which he owns a minority 20% stake, with majority shares held by EU and US owned carriers