Business tax

Tax / Q&A: construction reverse charge

In our regular Q&A series from Croner Taxwise, VAT adviser, Magdalena Tchorz explains how new rules for the domestic reverse charge will affect construction businesses

Tax / Call to offer relief for Covid-19 business losses

Businesses that have incurred losses during the Covid-19 pandemic should be able to exchange them for a government cash payment, in the same way as the research and development (R&D) tax relief operates, in order to support them to continue functioning and to preserve future tax revenues, Blick Rothenberg is proposing

Tax / Covid-19: self employed grant claimants warned of tax hit

The Low Incomes Tax Reform Group (LITRG) is concerned that recipients of the government’s Self-Employed Income Support Scheme (SEISS) grant might not realise that it is taxable

Tax / EU tax moves impact on UK trade

With Brussels is planning new taxes around carbon, plastic and digital services to bolster the EU economy after coronavirus, the effects of may be felt by UK importers and exporters, says RSM’s George Bull

Tax / Trump threats on digital tax reveals policy free-for-all

With US technology giants in the sights of any digital services tax, investigation could see a new tariff war launched against many countries including the UK, writes Avalara’s Richard Asquith

Tax / Covid-19: delay to VAT reverse charge on construction services

HMRC has announced a five-month delay to the introduction of the domestic reverse charge for construction services, due to the impact of the coronavirus pandemic on the construction sector, and the VAT change will not now apply until 1 March 2021

Tax / MPs to scrutinise £155bn of tax reliefs

The Public Accounts Committee (PAC) has opened an inquiry into the UK’s management of ‘tax expenditures’, after a National Audit Office (NAO) report identified over 300 such tax interventions, at a cost of £155bn a year

Tax / Covid-19: consultation on taxation of coronavirus support grants

HMRC is holding a two-week consultation on the technical effectiveness of legislation to introduce rules on the taxation of coronavirus business support grants, which will be included in Finance Bill 2020

Tax / William Hill signals £150m betting windfall

Gambling group William Hill has stated it expects to recover up to £150m in tax after HMRC lost a legal challenge, with a tribunal finding VAT was wrongly applied to revenues from fixed odds betting terminals (FOBTs) in betting shops

Tax / £500m rates rebate windfall for supermarkets

UK supermarkets are in line for £500m in tax refunds, after the Supreme Court ruled in their favour at the conclusion of a lengthy dispute with the Valuation Office Agency (VOA) over business rates payments on ATMs

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
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