Tax compliance

Tax / Clarification of settlement terms for disguised remuneration liabilities

HMRC has issued updated guidance to clear up a misunderstanding about the arrangements for settlement of disguised remuneration liabilities for loan charges in relation to inheritance tax (IHT)

Tax / Businesses not ready for Making Tax Digital VAT deadline

Nearly two thirds of businesses (64%) say that Making Tax Digital is a good idea but that they need more support with their plans ahead of the deadline of 1 April for mandatory digital VAT reporting, and only 12% are confident of their approach, according to research from KPMG

Tax / Ignore email scams promising fake HMRC tax refunds

Scammers are targeting self assessment taxpayers by email claiming they are entitled to tax refunds and asking for bank details to transfer the money

Tax / Par for the course: top tax issues for sports stars

For top sporting athletes there are a number of tax compliance issues to keep an eye on, from being on the right tax code, to testimonial payments, image rights and agents’ fees. Elliott Buss, partner and head of sports group, UHY Hacker Young provides useful tips and advice for avoiding a confrontation with the taxman

Tax / HMRC fines homeless man £1,600 for filing tax return late

HMRC’s behaviour has been described as a ‘scandal’ and ‘ridiculous’ after it issued £1,600 in fines to a homeless man who had filed his self assessment tax return late, with the tax authority claiming the man’s circumstances were not ‘special’

Tax / OECD consults on digital tax rule changes

The OECD has opened a public consultation on its ‘milestone’ proposals for changes to the taxation regime in response to the digitalisation of the economy, which include revisions to the arm’s length principle and a focus on taxing profits where they are derived

Tax / Finance Act 2019 comes into force

The Finance Bill 2018-19 received Royal Assent on 12 February 2019 and became Finance Act 2019

Tax / HMRC opens agent services account to overseas applicants

HMRC has published guidance on how to apply for approval to get an agent services account for agent businesses based outside the UK, in an extension of its current functionality

Tax / Indirect disposals of UK land bring non-residents into CGT

Changes to the capital gains tax (CGT) rules on sales of land mean that non-UK residents will be captured by the CGT regime for the first time from April 2019, raising complex tax compliance issues, explains Stephanie Webber CTA, tax writer at Croner-i

Tax / Calls for tax relief to support investigative reporting

The government is being urged to consider proposals for new forms of tax reliefs to encourage payments for online news content and support local and investigative journalism 

Tax / Call to end ‘ridiculous merry-go-round’ on RPI formula

The chairs of two influential Parliamentary select committees have stepped up their campaign to force a change in the way in which the retail price index (RPI) is calculated, to correct a statistical error which means this measure of inflation is flawed

Tax / FTT decision defines DOTAS scheme ‘promoter’

A First Tier Tribunal (FTT) has refused an unusual application by HMRC for an order that a scheme included ‘notifiable’ arrangements under disclosure of tax avoidance schemes (DOTAS) rules, on the grounds that the adviser who provided administration services for the scheme was not a promoter, as HMRC claimed, under the terms of the legislation

Tax / No deal Brexit risk to UK travel companies over TOMS VAT issue

Any UK travel-based businesses operating in the EU after 29 March 2019 could see changes to their VAT accounting under the tour operators margin scheme (TOMS)

Tax / Q&A: self assessment tax return penalties

Angela Robson, tax consultant at Croner Taxwise, outlines and explains what penalties will apply to individuals who failed to file their self assessment tax return before the 31 January deadline

Tax / Overseas property buyers face 1% stamp duty surcharge

HMRC and the Treasury have issued a 12-week consultation looking at how a 1% increase to stamp duty land tax (SDLT) for non-UK residents, including companies and trusts, purchasing residential property would work, with proceeds of the surcharge going towards measures to tackle rough sleeping