Politics

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

Tax / Ashley calls for immediate 20% tax on online sales

Sports Direct founder Mike Ashley has claimed that the high street is ‘already dead’ due to the impact of the internet on consumers, and that the only way to redress the balance would be to institute a 20% tax on online sales and massive cuts to business rates

Tax / Lords call for greater oversight of HMRC powers

Recent powers provided to HMRC undermine the rule of law and hinder taxpayers' access to justice, and the tax authority should be subject to greater oversight and its powers reviewed, as the balanced has been tipped ‘unfairly’ in its favour, according to a House of Lords report

Tax / EU committee backs VAT reverse charge

The EU committee on economic and monetary affairs has voted in favour of a proposed amendment to the EU VAT directive, allowing member states struggling with fraud to temporarily change the way it is recovered

Tax / Human rights appeal on inheritance tax dismissed

The First Tier Tribunal (FTT) has dismissed an appeal by businessman Arron Banks that HMRC had breached his human rights by assessing him liable to inheritance tax (IHT) for donations made to UKIP in the period following the 2010 election

Tax / Chancellor gives VAT on X Factor single to charity

Chancellor Philip Hammond has announced his annual Christmas gift to charity, by revealing that the VAT collected on sales of the X Factor winner’s charity song will be donated to children’s charities

Tax / Leading institutes back Lords call for MTD delay

A recommendation by a Lords committee that the government’s introduction of mandatory Making Tax Digital (MTD) for VAT should be delayed by at least one year is supported by the Low Incomes Tax Reform Group (LITRG), CIOT and the ICAEW

Tax / 30 months to build Brexit IT systems, HMRC tells committee

Appearing before the Treasury committee, senior HMRC figures including Jon Thompson admitted that building post-Brexit IT systems could take longer than two years, and defended HMRC’s approach to tackling disguised remuneration arrangements
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