Tax compliance

Tax / Treasury consults on pensions tax relief administration

The Treasury is consulting on how to plug a loophole in the way pensions tax relief operates, which means around 1.75m lower paid workers saving in a pension may end up in differing financial positions depending on how their scheme is administered

Tax / Fullelove: post-pandemic tax probe needs greater public debate

Following the launch of the Treasury committee’s enquiry into the tax system after coronavirus, Croner-i expert Glyn Fullelove sets out the issues, from wealth and digital taxes to the nature of employment and the three-person problem

Tax / Complex admin requirements of temporary VAT rate cut

With some businesses now facing three or even four different VAT rates, Crowe’s Robert Marchant unpicks the implications of the temporary reduction, assessing the impact of further tax compliance for the hospitality and tourism industries

Tax / HMRC sets up scheme for loan charge refunds

HMRC has published guidance on how it will administer the disguised remuneration repayment scheme, offering refunds to taxpayers who made voluntary payments of income tax or National Insurance prior to a change in the rules regarding the loan charge

Tax / Q&A: qualifying for Principal Private Residence Relief

In our regular Q&A series from Croner Taxwise, tax adviser, Sohail Butt explains how much of the gain will qualify for Principal Private Residence Relief when selling a property

Tax / ‘Fundamental’ overhaul of business rates in view

The government has announced a call for evidence for the fundamental review of the business rates system, seeking views on issues to be addressed, ideas for change and alternatives which could include an online sales tax

Tax / HMRC seeks views on tackling disguised remuneration tax avoidance

HMRC has opened a wide-ranging call for evidence on the continuing use of disguised remuneration (DR) tax avoidance schemes, seeking views on its approach, any variations which are not covered by existing legislation, and suggestions for further action

Tax / HMRC launches Turkish tax probe at Ladbrokes owners

GVC Holdings (UK) Ltd, the FTSE 100 group which owns betting brands Ladbrokes and Coral, has revealed HMRC is conducting a probe into the group’s former Turkish online gambling business

Tax / One week to tax credits renewal deadline

HMRC is warning taxpayers who claim tax credits they have just one week left to tell HMRC about changes to their circumstances or income before the renewal deadline on 31 July, or risk incorrect payments

Tax / Tax impact of Covid-19 on company cars

While there has been no tax break on company cars that have sat on the drive during the pandemic, a rebate on fuel benefits is still possible, according to RSM’s Chris Etherington

Tax / Treasury releases 10-year digital tax strategy

Alongside the Finance Bill 2020-21 draft legislation, the government has released details of an ambitious ten-year strategy to create ‘a tax system fit for the challenges and opportunities of the 21st century’, with a strong focus on increased use of technology and moves to real-time reporting and tax payments

Tax / Early tax planning vital for those fleeing Hong Kong for UK life

Navigating the UK tax system for Hong Kong investors, immigrants and BN(O) passport holders can be very complex, as rules change and poor planning create extra tax bills, says Alfred Liu, senior associate at law firm Forsters

Tax / Finance Bill 2020-21: changes to tax treatment of termination payments

The government intends to bring in measures to remove unintended outcomes and bring fairness and clarity to the current legislation on termination payments, by making it clear that individuals will not receive less favourable tax treatment depending on their contract or residency

Tax / Finance Bill 2020-21: amendments to HMRC’s civil information powers

HMRC is to be given new powers to issue a financial institution notice (FIN) requiring financial institutions to provide information about a specific taxpayer when requested, without the need for approval from the tax tribunal, in a bid to bring the UK into line with international standards on the quality and speed of exchange of tax information

Tax / Finance Bill 2020-21: ATED and SDLT relief for housing co-ops

HMRC has announced relief for housing co-operatives from Annual Tax on Enveloped Dwellings (ATED) and Stamp Duty Land Tax (SDLT)
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