Tax compliance

Tax / HMRC targets offshore investment fund holders

HMRC will be sending high net worth individuals advisory letters warning them to submit offshore investment returns correctly to avoid tax penalties  

Tax / Entrepreneurs’ relief and share buybacks: multiple completions

Entrepreneurs’ relief (ER) should be fully available for properly structured multiple completion share buybacks, but until HMRC issues definitive guidance, advisers should look at alternatives, says Peter Rayney FCA, CTA (Fellow), TEP

Tax / Tax data: CGT data, HMRC rates of interest - Nov 2019

Download the current HMRC CGT indexation allowance unchanged since December 2017, RPI index for September 2019, HMRC rates of interest, and property tax rates including SDLT, Scottish LBTT and Welsh LTT

Tax / Tax updates: November 2019

In this month’s tax updates, HMRC wins latest GAAR ruling, Ackroyd loses IR35 appeal, Starbucks success in Dutch tax case, HMRC threatens action over IR35, probate fees u-turn, Facebook’s UK tax under fire and Scotland mulls plastic cup tax 

Tax / HMRC discovery assessments - NEW CPD module

This month's exclusive Accountancy Daily CPD module focuses on HMRC discovery assessments, particularly focusing on when they can be issued and how to challenge them, taking into account the rules applying for income tax, capital gains tax and corporation tax.

Tax / Halloween deadline for self assessment paper tax return

It could be a Halloween tax nightmare for some of the UK’s small businesses, who risk missing a trick by failing to hit the 31 October deadline for returning self assessment paper tax returns

Tax / Tax filing deadlines: Nov-Dec 2019

The key HMRC filing deadlines from November to December 2019 including second Making Tax Digital submission for end of relevant VAT quarter, one month if on payments on account, and corporation tax third quarterly instalment payment

Tax / HMRC gives limited MTD ‘digital links’ extension

HMRC has extended the Making Tax Digital (MTD) for VAT compliance date for businesses judged to have complex or legacy IT systems and they will be given extra time to meet the requirement to maintain digital links as part of the new filing regime

Tax / Off-payroll working rules: is your company or LLP affected – part 1

An overhaul of IR35 tax rules for contractors in the private sector comes into force from 6 April 2020 when off-payroll working is extended to medium and large businesses, and LLPs. Julie Clift CTA, tax writer at Croner-i, explains how this will affect businesses hiring contract workers, with liability for income tax and PAYE shifting to employers

Tax / Cairn Energy faces further delay in Indian tax dispute

FTSE 250 oil explorer and producer Cairn Energy has announced another delay in its long-running dispute with the Indian government over a £1bn tax claim, which will now not be settled before next year

Tax / VAT Q&A: financial intermediaries and VAT exemptions

In our regular Q&A series, Croner Taxwise VAT advisor Priyesh Mistry explains how financial intermediaries can treat supplies as VAT exempt

Tax / Threat to name and shame aggressive tax dodgers not working

A government commitment to name and shame aggressive corporate tax avoiders has failed to sanction a single company, new figures have revealed

Tax / HMRC pulls in extra £10bn from large business tax probes

HMRC has collected almost £10bn in additional tax as a result of investigations into the UK’s biggest companies, with £6bn coming from VAT payments and £2.6bn in underpaid corporation tax, according to research by Pinsent Masons

Tax / SMEs losing out on apprenticeship levy funding

There need to be urgent reforms to the apprenticeship levy, including additional funding, to prevent the loss of up to 75,000 apprenticeships at SMEs

Tax / US makes first move towards beneficial ownership register

The US House of Representatives has passed the Corporate Transparency Bill, marking the first stage in a bid to clamp down on shell companies with opaque ownership