Politics

Tax / Treasury Committee chair Nicky Morgan steps down

Following the appointment of the former chair of the Treasury Committee, Nicky Morgan MP, as Secretary of State for Digital, Culture, Media and Sport, there will be an election after the summer recess for a new chair

Tax / Chancellor urged to take ‘strategic approach’ to tax

Three finance industry bodies have written to the Chancellor, urging him to take a more strategic approach to setting tax policy

Tax / Sajid Javid replaces Philip Hammond as Chancellor

Boris Johnson has named Sajid Javid as Chancellor of the Exchequer in one of his first top ministerial appointments as prime minister, with Rishi Sunak as number two at the Treasury    

Tax / Apprenticeship levy proves ‘empty promise’ on training

The apprenticeship levy, designed to boost workplace training, has proved an ‘empty promise’ and needs urgent reform, according to the Chartered Institute of Personnel and Development (CIPD)

Tax / Will Boris suffer a bedroom tax?

As Boris Johnson prepares to become prime minister, Chris Etherington, partner at RSM, examines his potential tax bill from income to property taxes on multiple residences, personal earnings to tax reliefs, not to mention the future prospect of the public duty cost allowance (PDCA)                           

Tax / Accountants and law firms pay £19.1bn in taxes

The UK’s accountancy and legal firms paid £19.1bn in taxes in 2018, a 6.8% rise in their total tax contribution compared to two years ago, according to a report from TheCityUK

Tax / Government exempts Windrush compensation payments from tax

Payments made under the Windrush Compensation Scheme will be exempt from income tax, inheritance tax and capital gains tax, HMRC has announced

Tax / France faces US backlash on 3% digital services tax

France is to introduce a 3% digital services tax, the first European country to do so, and now faces the risk of retaliation from the US, which argues that the levy unfairly targets multinational tech giants

Tax / Finance Bill 2019-20 sets out £1.1bn tax grab from payroll working extension

The government has published Finance Bill 2019-20 with 17 key tax changes, including off-payroll working rules for the private sector which are expected to raise £1.1bn in the first year, extension of HMRC powers in GAAR investigations and the 2% digital services tax 

Tax / France plans green tax on airline flight departures

The French government is to introduce an ‘eco-tax’ on all outgoing flights from French airports, which is expected to bring in €180m (£162m) from 2020, to encourage a more environmentally-friendly approach to travel

Tax / Ward: inheritance tax overhaul would remove useful exemptions

Proposals to overhaul inheritance tax may look good on the surface, but it is a case of removal of complexity would lead to the abolition of some useful tax breaks like taper relief and gifting exemptions. James Ward, head of the private client team at Kingsley Napley LLP, examines the Office of Tax Simplification recommendations

Tax / Call for radical overhaul of inheritance tax and lifetime gifting

The Office of Tax Simplification (OTS) has recommended sweeping reforms of inheritance tax in a bid to reduce complexity as more people are caught by the tax as house prices soar, but has no proposals to deal with the overly complex residential nil rate band, reports Sara White

Tax / NAO warns of ‘significant’ risk to government over Help to Buy loans

The Help to Buy scheme, designed to increase home ownership, could leave the government open to ‘significant market risk’ if prices fall, and many of those using this option could have bought a property without it, a National Audit Office (NAO) report has found

Tax / G20 finance ministers commit to digital tax policy by 2020

The G20 finance ministers have signalled their support for the OECD’s ‘two pillars’ approach to tackling global tax issues, and pledged to agree on the introduction of a digital tax by 2020

Tax / BBC to scrap free TV licences for over 75s

Over three million pensioners will lose their free TV licences from next year when the BBC takes over the funding liability and limits the benefit to those receiving pension credits
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