Tax / Consultations: March 2019

This month's HMRC, Treasury and OECD consultations focus on stamp duty land tax (SDLT) for non-resident property purchasers, electronic sales suppression and artificially reduced profits, tax challenges of the multinationals and the digitisation economy, and the plastic packaging tax 

Tax / HMRC consults on plans to be preferential creditor in insolvencies

The government has announced the first public consultation on plans to make HMRC a secondary preferential creditor for certain tax debts paid by employees and customers on the insolvency of a business, which have been branded a ‘cash grab’ by R3, the insolvency and restructuring trade body

Tax / Consultation on tax regime to curb plastic packaging production

The Treasury and the Department for Environment, Food and Rural Affairs are consulting on proposals first announced at Budget 2018 to introduce a new tax on the production and import of plastic packaging with less than 30% recycled content, in a bid to encourage greater reduction in the use of plastic

Tax / OECD consults on digital tax rule changes

The OECD has opened a public consultation on its ‘milestone’ proposals for changes to the taxation regime in response to the digitalisation of the economy, which include revisions to the arm’s length principle and a focus on taxing profits where they are derived

Tax / Overseas property buyers face 1% stamp duty surcharge

HMRC and the Treasury have issued a 12-week consultation looking at how a 1% increase to stamp duty land tax (SDLT) for non-UK residents, including companies and trusts, purchasing residential property would work, with proceeds of the surcharge going towards measures to tackle rough sleeping

Tax / Consultations: February 2019

This month's consultations from HMRC include amendments to tax returns, taxation of trusts’ comment period extended, electronic sales suppression and digital services tax

Tax / Simplification of inheritance tax review: what's in scope

The government is planning to overhaul the inheritance tax system with a review of the administration of estates and the more complex aspects where trusts are involved in planning. Sarah Arnold FCA CTA, tax writer at Croner-i, highlights the key proposals

Tax / HMRC extends deadline for taxation of trust consultation

HMRC has extended the deadline for responses to its consultation on the taxation of trusts by a month, with feedback now welcomed up to 28 February

Tax / Consultations: January 2019

This month's consultations from HMRC include taxation of trusts, stamp taxes on shares, corporate capital loss restriction and digital services tax 

Tax / Global Reporting Initiative publishes tax strategy draft

The Global Reporting Initiative (GRI), an independent organisation focused on sustainability reporting, is asking for feedback on its draft of the first global standard on tax and payment disclosures to governments within the next three months

Tax / HMRC seeks input over electronic sales suppression

HMRC has launched a three-month consultation looking at electronic sales suppression (ESS), whereby businesses or individuals use technology to artificially reduce their reported sales and corresponding tax liabilities

Tax / Consultations: December 2018

This month's consultations from HMRC include taxation of trusts, stamp taxes on shares, corporate capital loss restriction and digital services tax 

Tax / What will IR35 mean for the private sector?

The extension of IR35 rules to private companies from April 2020 will shift responsibility from contractors and their personal service companies (PSCs) to the hirers. Andrew Brookes, head of employer solutions at Menzies LLP, explains the tax implications

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 / Government considers reform of taxation of trusts

HMRC has published a 12-week consultation reviewing the taxation of trusts to determine how its tax policy can be made more transparent as well as whether reform is needed to encourage uptake but discourage the abuse of non-resident trusts for tax avoidance purposes