HMRC

Tax / Treasury funds £9bn change to GDP calculations

The Treasury is ploughing £9bn into the Office for National Statistics (ONS) to develop cutting-edge methodologies for measuring how the UK economy is performing to provide new ‘super-fast’ indicators to inform tax and spending plans, and economic decision-making

Tax / FTT rejects taxpayer’s appeal over ‘unsolicited’ tax returns

A taxpayer who had always paid tax at source under PAYE and submitted unsolicited tax returns in an attempt to address overpayments, has lost an appeal at tax tribunal over HMRC’s refusal to accept the returns

Tax / HMRC trials payroll changes to earlier year updates (EYU)

In a bid to improve payroll reporting, HMRC is running a trial aimed at simplifying the process for reporting corrections by extending the use of the real time information (RTI) full payment submission (FPS)

Tax / Taxpayers fight back as number of tax tribunals surges

Disputes between HMRC and taxpayers are increasing as the tax authority makes greater use of data collected from banks and foreign tax authorities, and more cases head to tax tribunals

Tax / Tax compliance and loss relief for worthless assets

Stephanie Webber ACA CTA examines the tax compliance issues for assets that have become worthless, considering capital gains tax liability, tangible and intangible assets, negligible value claims and crystallising losses under Taxation of Chargeable Gains Act 1992

Tax / HMRC call centre connection times deteriorate

One in five taxpayers are not satisfied with HMRC’s digital services despite the tax authority’s push to move all services online, while wait times to speak to an adviser worsened in February with nearly a third of callers waiting more than 10 minutes to speak to an adviser

Tax / Lehman case and withholding tax complexity

While the Supreme Court has ruled on Lehman Brothers’ withholding tax dispute with HMRC questions remain. Hannah Field-Lowes, partner, and Victoria Burton, associate, at White & Case LLP examine the judgment

Tax / Dodwell: digitising tax system removes control from taxpayers

In the face of tax digitisation, HMRC may be removing control over tax contributions from individuals to the state. Bill Dodwell, tax director of the Office of Tax Simplification (OTS) argues that a review of the design of the tax system is overdue

Tax / Call for urgent six-month delay to loan charge

The loan charge all-party parliamentary group has written to Mel Stride, financial secretary to the Treasury, calling for him to suspend the loan charge for six months after a debate was abandoned yesterday following flooding in the House of Commons

Tax / Annual money laundering supervision fee for accountants rises 130%

From 1 May, the annual renewal fee for money laundering supervision will more than double from £130 to £300 per premises, an increase of 130%

Tax / McCann: loan charge and time limits seem retrospective

Technically, the disguised remuneration loan charge is a retroactive rather than retrospective tax measure, but ill-thought legislation undermines the principle of certainty for taxpayers, warns Ray McCann CTA (Fellow), president of CIOT

Tax / Richest pay less inheritance tax than smaller estates

The UK’s wealthiest individuals and families with the largest estates on death are paying half the effective inheritance tax (IHT) rate of many smaller estates, according to an analysis by Canada Life, which is calling for an overhaul of the IHT tax regime

Tax / HMRC head challenged over loan charge ‘misinformation’

An all-party group of MPs has written an open letter to the head of HMRC challenging him about what they dub ‘clear misinformation’ in statements made by HMRC, and then repeated by the Treasury, about the 2019 loan charge, which is set to come into effect at the end of this week amid considerable controversy, reports Pat Sweet

Tax / CFC clawback could cost UK-based multinationals millions

The European Commission has ruled that part of a UK tax scheme is illegal under EU State Aid rules, as it exempted certain multinationals, and has ordered the UK to recover the revenue

Tax / Does Lorraine Kelly's IR35 case set a precedent?

In a series of contradictory IR35 case decisions, some celebrity taxpayers have come out on top as tax tribunals have ruled against HMRC over the use of personal service companies. Aidan Grant, associate, and Peter Daniel, partner at Collyer Bristow LLP, consider the latest Kelly judgment and whether the current rules need clarification
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