Tax compliance

Tax / Small businesses worst offenders owing £14bn in tax

The amount of uncollected tax has hit £35bn, with small businesses accounting for the largest percentage of the tax gap at £14bn while VAT evasion remains a major drain on tax revenues, reports Sara White

Tax / June electronic payment deadline falls on a weekend

HMRC is warning employers that the June electronic PAYE payment deadline of the 22nd falls on a Saturday this month, which means settlement must be made a day early

Tax / Lack of accessible software for MTD opens up exemptions

Anyone who cannot find suitably accessible software to comply with the Making Tax Digital for VAT rules should apply to HMRC for a temporary exemption, for example for age or disability reasons, says the Low Incomes Tax Reform Group (LITRG)

Tax / Scotland vote for tax on workplace car parks

Scottish MSPs have voted through plans to introduce a parking tax for employers, which would see businesses charged for providing workplace car parking spaces for staff

Tax / Crown Dependencies plan public beneficial ownership registers

Jersey, Guernsey and the Isle of Man have agreed to set up public beneficial ownership registers to improve transparency of company and trust ownership in line with EU efforts to clamp down on money laundering and tax evasion

Tax / Case: top-slicing relief due on chargeable event gain

Calculating top-slicing relief has become more complicated with the introduction of the personal savings allowance and starting rate band for savings income, but HMRC is not always right on the tax liability, as highlighted in the recent Marina Silver v HMRC life insurance bond case

Tax / Grocery delivery company tops deliberate defaulters list with £1.14m tax bill

HMRC’s latest list of major tax defaulters owing over £16.5m in unpaid tax, was topped by a grocery delivery company owing £1.14m and a metal and industrial chemical company owing £1.1m, with buy-to-let landlords, online traders and accountants, also featuring 

Tax / VAT Q&A: flat rate scheme and pre-registration input tax

In our regular Q&A series, Croner Taxwise consultant Jason Croke, explains the registration requirements for a first-time registrant planning to use the flat rate scheme for VAT compliance and recovery

Tax / Childcare and tax: vouchers v tax-free scheme – part 2

In part two of a series on childcare tax issues, Julie Clift CTA, specialist tax writer at Croner-i, asks whether it’s worth staying in the old childcare voucher scheme or moving to the new tax-free childcare scheme

Tax / Changes to registration rules will net all trusts

The introduction of blanket disclosure means all UK trusts will have to register details of their ownership on the UK Trust Register from next year resulting in millions of additional registrations

Tax / Cryptocurrency and taxation in the Netherlands

The popularity of blockchain and its adoption by mainstream industry has focused international attention on the tax treatment of cryptocurrencies. Friggo Kraaijeveld, partner at Kraaijeveld Coppus Legal, examines how the Dutch tax authority treats crypto assets from personal tax to corporate income tax

Tax / HMRC updates guidance on income tax and NICs for NHS WATS courses

HMRC has updated guidance for NHS employees attending widening access training scheme (WATS) courses to explain changes from 1 September 2019

Tax / HMRC plans IT downtime for Making Tax Digital

The newly launched HMRC Making Tax Digital for VAT online reporting service will be unavailable for part of the weekend and for the whole working day on Monday due to IT maintenance

Tax / NAO warns of ‘significant’ risk to government over Help to Buy loans

The Help to Buy scheme, designed to increase home ownership, could leave the government open to ‘significant market risk’ if prices fall, and many of those using this option could have bought a property without it, a National Audit Office (NAO) report has found

Tax / G20 finance ministers commit to digital tax policy by 2020

The G20 finance ministers have signalled their support for the OECD’s ‘two pillars’ approach to tackling global tax issues, and pledged to agree on the introduction of a digital tax by 2020