Personal tax

Tax / HMRC flags ‘phoenixism’ tax avoidance schemes

HMRC has issued a warning about so-called ‘phoenixism’ tax avoidance schemes that try to avoid an income tax charge for shareholders on distributions when winding up a company, and has detailed reasons why attempts to get around the new rules will not work

Tax / Nunn: avoid falling foul of the taxman over property sales

The ever daunting volume of tax code leaves taxpayers confused and liable to be caught out by ever more arcane tax rules. Yvette Nunn CTA, founder of Berkeley Associates, gives a candid view of some of the more complex tax traps from compliance with non residential CGT to the risks of falling foul of the annual allowance when saving for a pension 

Tax / Harry Potter actor fails in £1m tax refund appeal

Harry Potter star Rupert Grint has failed in his latest attempt to claim a £1m tax refund, after an Upper Tribunal ruled the actor was not able to change his accounting date in the way he had intended, because his accounting records did not support the necessary requirements

Tax / Scottish budget passed after deal with Green party

The Scottish Budget was approved by 67 votes to 58 with Finance Secretary Derek Mackay getting backing from Green MSPs, after he agreed to boost to local government funding and implement an alternative system to council tax

Tax / 700,000 taxpayers miss self assessment deadline

A record 93.68% of self assessment tax returns were completed by yesterday’s midnight deadline, with 700,000 taxpayers filing last night, according to HMRC

Tax / Court confirms HMRC information powers extend overseas

HMRC has won an appeal at the Court of Appeal over its decision to serve an information request to a long-standing non-UK resident, in a landmark decision about the scope of the tax authority’s powers beyond the UK borders

Tax / Filing deadlines: Feb - Jul 2019

The key HMRC filing deadlines from February to July 2019 including Forms P46(Car) for quarter ended 5 Jan, PAYE cheque payments for month ended 5 Feb and payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge

Tax / HMRC challenged over ‘shameless’ pensions overtaxing

HMRC repaid over £30m to pension savers who had been taxed incorrectly on lump sum withdrawals in the last quarter of 2018, while the total paid back since the start of pension freedoms in April 2015 now tops £400m, prompting calls for a change in approach

Tax / Why the Beatles' legacy lives on in tax

As this week reveals the UK’s top taxpayers, George Bull and Andrew Hubbard at RSM, consider how attitude has switched over the years with the highest earners publicly stating how much tax they pay and the US proposing a super-tax on multi-millionaires   

Tax / HMRC releases P11D guidance to clarify OpRA rules

HMRC has issued basic guidance on how to complete 2017-18 forms P11D returns for PAYE internet submissions, expenses and benefits, and stressed compliance with 2017 rule change to salary sacrifice arrangements

Tax / Q&A: foreign employment income and tax returns

In our regular Q&A series, Croner Taxwise tax adviser Amaira Badat explains how to declare foreign employment income on self assessment tax returns if an individual has worked outside the UK for several months

Tax / Retailer heads top 50 tax list with £180m tax bill

With four days left before the January self assessment deadline, there are at least 50 UK-based taxpayers who have paid in excess of £12m each to HMRC in the past year, according to a listing by the Sunday Times

Tax / End of US shutdown sees IRS tax services resume

After the longest US government shutdown ever, President Trump has finally given in to pressure and re-opened government, allowing the resumption of full Internal Revenue Service (IRS) for taxpayers before the April tax filing deadline

Tax / Worker rights and employment status under Good Work Plan

Government plans to separate the frameworks for determining employment status for tax and employment rights purposes following the Taylor Review of Modern Working Practices could overhaul the position of the self employed. David Williams-Richardson, tax partner at RSM, examines the Good Work Plan proposals

Tax / HMRC sets up innovation team to drive IT collaboration

HMRC is investing more resources in technology, artificial intelligence (AI) and ground-breaking technology with the creation of the first innovation team at the tax authority briefed to collaborate with external IT specialists to develop innovative software to improve tax collection and close the tax gap
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