Law and regulation

Tax / VAT updates: March 2020

In this month’s VAT updates, Graham Elliott considers charity construction relief in Marlow Rowing Club, HMRC’s reaction to the News Corp decision and the supply of medics in Archus Trading Ltd

Tax / Accountant loses appeal over £1.2m goodwill claim

An accountant has been left facing a potential £431,400 tax bill after losing a case at First Tier Tribunal (FTT) over a claim for goodwill on the sale of his business, with HMRC arguing it did not exist

Tax / Termination payments – changes to NICs from 6 April 2020

The twice-delayed changes to national insurance contributions (NICs) on termination payments are finally scheduled to come into effect in April. Martin Jackson ATT, head of employment taxes at Croner-i, explains

Tax / Q&A: CGT and gifts

In our regular Q&A series from Croner Taxwise, tax adviser, Ibrahim Nalla explores the implications of capital gains tax on gift giving after compliance changes which will apply from April 2020

Tax / OECD releases guidance on transfer pricing on financial transactions

The OECD has released the first detailed guidance on use of the arm's length principle for transfer pricing on financial transactions as part of its base erosion and profit shifting (BEPS) clampdown

Tax / Naming and shaming rules for NMW breaches overhauled

The threshold for being named and shamed for flouting national minimum wage (NMW) rules has been raised to £500, while salary sacrifice schemes will no longer be taken into account

Tax / IR35 rules for private sector will not be retrospective

IR35 contractors mid-way through a contract when the off-payroll working rules for the private sector come into force in April will only go on payroll from the new 2020-21 tax year, reports Sara White

Tax / VAT updates: February 2020

In this month’s VAT updates, Graham Elliott considers digital newspapers in News Corp v HMRC, ongoing DIY housebuilder time limits cases and new regulations relating to call off stocks

Tax / NICs threshold increases by £104 from April

Changes to national insurance contributions (NICs) will see the threshold rise by 10% in the new tax year with a maximum tax cut of £104

Tax / Employment allowance NIC break targets small business

From April, changes to the employment allowance will become de minimis state aid and HMRC has made the reporting rquirements less painful to encourage smaller businesses to use the tax break to reduce their NICs' bill

Tax / Non-resident UK companies to pay corporation tax on property income

From April 2020, non-UK resident companies will have to pay corporation tax on UK property income for the first time, with new rules for collective investment vehicles

Tax / Kickboxing company loses VAT dispute

Kickboxing company Premier Family Martial Arts LLP has lost a VAT dispute with HMRC, as they tried to appeal that kickboxing should be exempt from VAT because it is a form of tuition, covering a subject that is part of school education

Tax / Rules on cross-border tax disclosure under DAC 6 refined

The government has published legislation requiring taxpayers and their advisers to disclose details of certain cross-border arrangements to HMRC as part of moves to crack down on tax avoidance, but has watered down the original penalty regime

Tax / HMRC rushes out guidance on new AML regulations

HMRC has published outline guidance on the changes to the regulations on money laundering and terrorist financing, which have been extended to cover lettings agents and art dealers from mid-January, with more detailed information set to follow

Tax / News Corp wins VAT dispute at Upper Tribunal

HMRC has lost an appeal at the Upper Tribunal over zero rated VAT on digital newspapers with the publishers of The Times arguing that digital versions of its newspapers are not a service
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