Tax compliance

Tax / CIOT warns Finance Bill tweaks damage confidence

CIOT has warned that a number of minor changes to Finance Bill 2018-19 (FB 2018-19) risk undermining the consistency depended on by taxpayers, reducing confidence and affecting international competitiveness

Tax / Self assessment tax returns and cash flow

As people get into the Christmas spirit, self-assessment taxpayers are facing the doom and gloom of 31st January 2019 tax bill but a cash flow benefit can be achieved by getting your tax return in early, says Paul Haywood-Schiefer, tax manager at Blick Rothenberg

Tax / Walker: cost implications of digital services tax

The digital services tax (DST) announced in the Budget will lay a heavy compliance burden on businesses, especially when it comes to UK profit margins, argues Eloise Walker, partner at Pinsent Masons

Tax / 37% of accountants stalling over MTD

A survey of tax professionals’ attitudes and company readiness for Making Tax Digital (MTD) for VAT shows that companies and accountants are lagging behind in their preparations and 70% are waiting for future announcements until they commit to a process

Tax / £8m fund for post-Brexit customs support

Ahead of the UK leaving the EU next March, HMRC and the Treasury have announced an £8m funding scheme for customs intermediaries and traders towards the cost of training and IT improvements required to handle imports and exports post-Brexit

Tax / Voluntary return policy to get statutory footing

Meg Wilson CTA, tax writer at Croner-i, looks at why HMRC’s existing policy on voluntary returns is being legislated for, including cases which have concluded that unsolicited tax returns are not valid, and what impact this change will have on UK taxpayers and tax advisors

Tax / HMRC amends rules on termination payment tax

HMRC has updated guidance on the new rules for the taxation of termination payments, introduced to counter manipulation of the system, to reflect changed dates in relation to employer national insurance contributions (NICs) and to sporting testimonials

Tax / Lords call for greater oversight of HMRC powers

Recent powers provided to HMRC undermine the rule of law and hinder taxpayers' access to justice, and the tax authority should be subject to greater oversight and its powers reviewed, as the balanced has been tipped ‘unfairly’ in its favour, according to a House of Lords report

Tax / Ingram: probate fees hike is a tax on bereaved

Kay Ingram, director of public policy at LEBC, argues that an increase in probate fees puts an unfair burden on bereaved families and discusses what they can do to avoid being required to pay probate fees and inheritance tax upfront

Tax / Q&A: deemed domicile and remittance basis

In our regular Q&A series, Julian Payner, tax adviser at Croner Taxwise, examines issues of domicile and the remittance basis when completing a self assessment tax return for income tax and CGT for a Spaniard living in the UK

Tax / VAT updates: December 2018

In our monthly roundup of VAT cases and developments, Graham Elliott, VAT specialist at City & Cambridge Consultancy, considers partial exemption on car finance in n VW Financial Services (UK) C-153/17), taxable person status for reverse charge in Wellcome Trust and input tax on abortive takeover bids in Ryan Air

Tax / Tax updates: December 2018

In our monthly roundup of tax cases, a FTT decision on ‘period of ownership’ of an off-plan apartment overturned in Higgins, FTT allows new argument not heard in previous appeals in Vaccine Researcher Ltd Partnership and livery business eligible for business property relief

Tax / Employment tax updates: December 2018

In our monthly roundup of employment tax developments and Budget announcements, Jackie Hall, partner at RSM examines off-payroll working in the private sector, employee shares and entrepreneurs' relief, change to national insurance contributions (NICs) from 2020 and small company apprentice levy cut

Tax / Business implications of HMRC’s Crown preference

Simon Willmett, financial director of Nucleus Commercial Finance, argues that the reinstated preferential status for HMRC in the event of a business insolvency may increase cash flow pressures for unsecured creditors

Tax / HMRC set to collect £11.9bn in Scottish income tax

HMRC estimates Scottish rate of income tax revenue (SRIT) for 2017-18 will be £11.9bn, reflecting the more comprehensive tax setting powers available, and has implemented assurance processes to ensure collection, the annual National Audit Office (NAO) review has found
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