Tax planning

Tax / ICAS proposes three-month waiver for late filing penalties

ICAS has written to HMRC seeking a three-month waiver of the penalties for failure to meet tax filing deadlines, highlighting the impact of Covid-19 disruption on firms and their clients

Tax / Q&A: changes to the rules for movement of goods

In our regular Q&A series, Croner Taxwise, VAT adviser, Tony Chamberlain, explains how the impending changes to the rules concerning movement of goods across the EU will affect UK businesses

Tax / HMRC to act over insurance premium ‘value shifting’

HMRC is consulting on proposals intended to improve the operation of insurance premium tax (IPT), making it easier for both the industry and HMRC to administer, and addressing certain types of avoidance and evasion

Tax / Covid-19 hits HMRC customer response levels

Covid-19 restrictions and HMRC’s leading role in the launch of a slew of government support schemes have hit HRMC’s customer service levels and are having an impact on the amount of tax collected, latest statistics reveal

Tax / Airbnb hosts must act now to avoid HMRC probe

As the online short-term rental giant passes its user data to the tax authority, RSM’s Sarah Saunders says amateur renters should have nothing to fear if they use reliefs and follow the rules carefully

Tax / £5m funding for organisations to help people with tax affairs

HMRC has secured £4.98m funding for 2021-2024, equating to £1.66m per year, to allocate to voluntary and community sector organisations to help them support taxpayers comply with tax obligations and claiming their entitlements

Tax / Oman mulls introducing income tax

Oman is set to introduce an income tax on high earners in 2022, the first of the Gulf states to make such a move

Tax / Brexit and VAT pt2: tour operators, online sales and overseas marketplaces

In the second of a two-part series, Croner-i tax writer Sarah Kay looks at some of the less well publicised VAT consequences of the UK leaving the EU on 31 December 2020, including the tour operators margin scheme, online sales and overseas marketplaces

Tax / Q&A: tax on voluntary receipts

In our regular Q&A series, Croner Taxwise tax adviser, Amaira Badat, explores the tax implications of leaving a gift to an employee before passing away, could it be deemed as a voluntary receipt?

Tax / VAT error correction - CPD module – NEW

This month's exclusive Accountancy Daily CPD module explains in depth the two ways in which the under or overpayment of VAT should be corrected, as well as how to properly notify HMRC

Tax / VAT updates: November 2020

In this month’s round up of VAT cases, Graham Elliott considers VAT on imports after 1 January 2021, the end of the retail export scheme, undisclosed partnerships, roof insulation and Covid-19 payment holidays

Tax / Trusts tax take up by 7% to reach £3bn mark

HMRC’s annual statistics show that while the number of trusts and estates continues to fall, their income has increased, and the total tax bill is up by 7%

Tax / HMRC changes VAT policy for private baby scans

HMRC has published a brief on changes to the VAT treatment of ultrasound scanning services for pregnant women following the decision of a First Tier Tribunal (FTT)

Tax / Businesses warned on drop in annual investment allowance

Businesses considering the purchase of capital equipment need to think quickly or risk missing out on significant amounts of tax relief over the next few years, the Association of Taxation Technicians (ATT) is warning

Tax / Brexit and VAT pt1: mini one stop shops, tourism and VAT refunds

In the first of a two-part series, Croner-i writer Sarah Kay reviews a number of the less well publicised Brexit consequences for UK businesses trading in the EU, including the impact of mini one stop shops, tax free shopping for tourists and EU VAT refunds