Tax planning

Tax / Covid-19: HMRC clarifies repayment of corporation tax

HMRC has updated its company tax manual outlining when companies can make claims for repayments of corporation tax based on anticipated losses, in light of the exceptional circumstances many industries are facing during the Covid-19 pandemic

Tax / Home office workers risk expense claims tax trap

RSM tax partner Chris Etherington highlights the tax allowances for working from home, but warns against designating a room solely as an office

Tax / Q&A: construction reverse charge

In our regular Q&A series from Croner Taxwise, VAT adviser, Magdalena Tchorz explains how new rules for the domestic reverse charge will affect construction businesses

Tax / ICAS signals opportunity to reform complex tax system

The Institute of Chartered Accountants of Scotland (ICAS) has called for a number of reforms and more informed public debate in ‘The Future of Taxation in the UK’ report

Tax / Covid-19: self employed grant claimants warned of tax hit

The Low Incomes Tax Reform Group (LITRG) is concerned that recipients of the government’s Self-Employed Income Support Scheme (SEISS) grant might not realise that it is taxable

Tax / EU tax moves impact on UK trade

With Brussels is planning new taxes around carbon, plastic and digital services to bolster the EU economy after coronavirus, the effects of may be felt by UK importers and exporters, says RSM’s George Bull

Tax / Accounting for VAT extension for construction businesses

The Chartered Institute of Taxation (CIOT) welcomes that construction businesses will get an extra five months to prepare for a major change in accounting for VAT, because of the impact of Covid-19

Tax / Q&A: temporary OTT notification extension period

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins explains the background of HMRC’s extension to the notification period for notifying an Option to Tax (OTT)

Tax / Covid-19: delay to VAT reverse charge on construction services

HMRC has announced a five-month delay to the introduction of the domestic reverse charge for construction services, due to the impact of the coronavirus pandemic on the construction sector, and the VAT change will not now apply until 1 March 2021

Tax / CIOT calls for property sales tax change

The Chartered Institute of Taxation (CIOT) is asking the government to consider delaying changes to capital gains tax rules in relation to home sales, to take account of the impact of Covid-19 on the property market

Tax / US to probe UK’s digital services tax

The US has launched an investigation into digital services taxes (DSTs) that have been adopted or are being considered by a number of its trading partners, including the UK, on the grounds that they will unfairly penalise companies like Google and Amazon

Tax / Q&A: homeworking expenses claim

In our regular Q&A series from Croner Taxwise, tax adviser, Kabita Tank explains what conditions need to be met for an employee to claim the tax-free homeworking allowance of up to £6 per week  

Tax / MPs to scrutinise £155bn of tax reliefs

The Public Accounts Committee (PAC) has opened an inquiry into the UK’s management of ‘tax expenditures’, after a National Audit Office (NAO) report identified over 300 such tax interventions, at a cost of £155bn a year

Tax / Covid-19: consultation on taxation of coronavirus support grants

HMRC is holding a two-week consultation on the technical effectiveness of legislation to introduce rules on the taxation of coronavirus business support grants, which will be included in Finance Bill 2020

Tax / Delay to EU’s e-commerce directive raises questions for UK business

Plans to push back directive and VAT one stop shop by six months raise concerns if Brexit transition period ends on 31 December, but create opportunity to plan ahead, argues Andy Spencer, professional services director at Accordance