Politics

Tax / Public trusts accountants over politicians on tax

The public has greater trust in professionals, including accountants and tax advisers, than in politicians and non-government organisations (NGOs), when it comes to tax systems but the increasing complexity of tax systems comes in for criticism across G20 countries

Tax / Global tax advisory revenues top $20bn

 Tax advisory revenues globally have hit $20bn (£15.2bn), up by 8.6%, with the UK market set to grow faster than any other European country in 2019 with Brexit driving growth, according to analysis from Source Global Research

Tax / End of US shutdown sees IRS tax services resume

After the longest US government shutdown ever, President Trump has finally given in to pressure and re-opened government, allowing the resumption of full Internal Revenue Service (IRS) for taxpayers before the April tax filing deadline

Tax / Worker rights and employment status under Good Work Plan

Government plans to separate the frameworks for determining employment status for tax and employment rights purposes following the Taylor Review of Modern Working Practices could overhaul the position of the self employed. David Williams-Richardson, tax partner at RSM, examines the Good Work Plan proposals

Tax / Lords committee calls for single inflation measure

The government should stop ‘index shopping’ when it calculates inflation, address known errors in the retail prices index (RPI) calculation, and move to a single general measure of inflation in the next five years in order to eliminate unfairness, a House of Lords select committee has advised

Tax / Treasury to review 2019 loan charge

The Treasury has been forced to agree to review its controversial 2019 loan charge proposals, which are designed to tackle disguised remuneration, by the end of March after a cross-party group of MPs were successful in pushing through an amendment to the Finance Bill

Tax / MPs reject sweeping Treasury Brexit powers

The government’s no-deal Brexit preparations suffered a blow as a clause in Finance Bill 2018-19 (FB 2018-19) giving the Treasury broad powers in the event of a no-deal Brexit was narrowly defeated by rebels and opposition members

Tax / Cullinane: HMRC power grab is a step too far

The House of Lords economic affairs committee is right to call for a new review of HMRC powers as the tax authority over-reaches itself with spurious tribunals and exhaustive investigations, not to mention the introduction of a 12-year time limit set out in Finance Bill 2018-19, says John Cullinane CTA, tax policy director at the Chartered Institute of Taxation

Tax / Scottish Budget freezes higher rate threshold at £43,430

Higher rate taxpayers will face larger tax bills in Scotland from April 2019 as the Scottish Budget confirms plans to freeze the higher rate threshold for another year, reports Sara White

Tax / How would a change of government hit high net worth taxpayers?

A vote of no confidence in the prime minister tonight is pushing the government closer to collapse as Brexit talks stump MPs. Geoffrey Todd, partner in the private wealth team at Boodle Hatfield, highlight three of the key concerns for high net worth (HNW) taxpayers should a Labour government led by Jeremy Corbyn come to power

Tax / Online marketplaces to be liable for missing VAT

The European Commission has announced new measures, due to come into force in January 2021, which will allow for a smooth transition to an updated VAT structure for dealing with online selling and will make online marketplaces liable for VAT not recovered by tax authorities

Tax / Scotland pressed on land value tax

The Scottish government should consider introducing a land value tax (LVT) as a way of delivering on its land reform objectives and raising revenue in a more progressive way, an academic report has suggested

Tax / CIOT president attacks loan charge legislation

The president of CIOT, Ray McCann, has told the Treasury sub-committee that the government’s approach to tackling disguised remuneration was ‘worse than retrospective legislation’ in that it removed the legal protections provided to taxpayers

Tax / EU council hears doubts over digital services tax

The EU Economic and Financial Affairs Council (ECOFIN) has discussed the implementation of a digital services tax, with representatives disagreeing on how such a tax would work in practice and some countries calling for a delay until the OECD reaches a solution

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
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