Tax compliance

Tax / HMRC withdraws 2,600 accelerated payment notices for unpaid tax

HMRC has cancelled another 2,600 of its controversial accelerated payment notices (APNs) during the last year, according to law firm RPC, which says over 10% of APNs issued since 2014 have been withdrawn, raising concerns the process is becoming ‘commoditised’

Tax / US Congress moves to ban free tax filing software

US lawmakers are planning to pass a bill to prevent the Internal Revenue Service (IRS) from developing a free electronic tax filing system to help US taxpayers file digitally

Tax / Compliance fears drive increased use of tax technology

Company boards are increasingly concerned about tax compliance and planning, partly because of initiatives such as Making Tax Digital for VAT and automatic exchange of tax information, driving a 20% hike in investment in tax technology

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 / Accountants call for simplification of apprenticeship levy

The apprenticeship levy system remains deeply unpopular with professional services firms in the UK, who view it as an extra tax that complicates learning and development, and should be radically simplified, according to research by the Managing Partners’ Forum

Tax / Accountancy Daily changes newsletter timings

Accountancy Daily is rejigging the timings for its daily newsletters to ensure that all our readers receive breaking news and analysis on the day it happens and relaunching a dedicated morning technical e-alert service

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 / OECD wants tax help for middle class

Governments need to do more to support struggling middle-class households, with help such as targeted grants, financial support for loans and tax relief for home buyers, according to a report from the OECD which says it has become more difficult for younger generations to make it to the middle class

Tax / Business must plan to avoid Easter BACS payment delays

With Easter 2019 just around the corner, business owners are being urged to plan ahead if they are to avoid missing payments to staff and suppliers over the long Easter bank holiday weekend, according to advice from Pay.UK, which acts as the single operator for all UK retail payments

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 / Lifetime allowance for pensions increases to £1.05m

The standard lifetime allowance for pensions has increased by £25,000 in line with CPI inflation to £1,055,000 for the new tax year from 6 April  

Tax / Treasury revises oil and gas tax history compliance

The Treasury has published detail of the alternative schedule to the decommissioning relief deed (DRD) that oil and gas companies are required to sign before they elect to transfer their tax history

Tax / Q&A: interim dividends and distributable reserves

In our regular Q&A series from Croner Taxwise, tax adviser Alexander Fielding considers the legal and tax implications of paying interim dividends when a company has insufficient distributable reserves