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Tax | Annual tax on enveloped dwellings: what you need to know

The revaluation of the annual tax on enveloped dwellings (ATED) could potentially bring more properties within scope due to the continuing growth of property prices. Lindsey Wicks, tax writer at Croner-i, outlines the implications of the tax for high value residential properties

24 Apr 2018

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Tax | Apple to pay €13bn of back taxes to Ireland from May

The Irish government has reached a deal with tech giant Apple to collect the €13bn (£11.4bn) of disputed back taxes from next month, after the European Commission previously found that Ireland granted the company illegal tax benefits

24 Apr 2018

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Business | EU plans to strengthen whistleblower protection

In the wake of scandals such as the Panama Papers, the European Commission is proposing a new law to strengthen whistleblower protection to ensure safe channels for reporting concerns over unlawful activities, financial irregularities and governance failures both within an organisation and to public authorities

24 Apr 2018

Accountancy Firms

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Tax | Tax resisters remembered in 100-year commemoration of women’s suffrage

Today sees the official unveiling of a statue of women’s rights campaigner Millicent Fawcett, 100 years after women were granted the vote, which will include the names of several members of the Women’s Tax Resistance League whose role in the fight for female suffrage is being highlighted by the Association of Taxation Technicians (ATT)

24 Apr 2018

Image for dodwell brexit transition will not be straightforward

Tax | Dodwell: Brexit transition will not be straightforward

Bill Dodwell, partner and head of tax policy at Deloitte considers the tax risks of the provisional agreement on Brexit transition and the various tax directives which will need to be adopted by the UK during this period

24 Apr 2018

Image for businessmen jailed ps145k vat fraud and money laundering

Business | Businessmen jailed for £145k VAT fraud and money laundering

Two businessmen have been jailed for a total of eight years and seven months after stealing £145,000 in VAT and laundering money for individuals who are in prison for a £2.6m tax fraud

24 Apr 2018

Called to Account

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Business | Catax extends R&D tax services to Scotland

Specialist R&D tax relief firm Catax is to open a Scottish office in Edinburgh as part of plans to increase focus north of the border and treble the company’s size by 2021

24 Apr 2018

Accountancy Firms

Image for hmrc warning sugar tax registration deadline

Tax | HMRC warning on sugar tax registration deadline

HMRC is reminding soft drinks businesses that they have only a few days left to meet the 30 April 2018 registration deadline for the soft drinks industry levy (SDIL) or ‘sugar tax’

24 Apr 2018

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Business | Business rates appeals system criticised by 88% of users

The government’s new business rates appeals regime has failed to win support during its first year of operation, with the majority of users highly critical of the operation of the ‘check challenge appeal’ (CCA) system, according to research from Colliers International

24 Apr 2018

Accountancy Firms

Image for tax fears boost management buyout activity levels

Business | Tax fears boost management buyout activity levels

UK management buyout (MBO) activity jumped sharply last year, as worries about potential tax rises meant business owners are increasingly looking to crystallise the value they have built up in their companies via an exit, according to analysis by Moore Stephens

24 Apr 2018

Accountancy Firms

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Business | UK Finance call to collaborate to cut cyber crime

With warnings of a major online attack imminent, UK Finance, which represents around 300 firms in the finance and banking industry, is calling for greater collaboration to tackle growing cyber threats

24 Apr 2018

Accountancy Firms

AI & Technology

23 Apr 2018

Image for christa ackroyd case and ir35 lottery

Tax | The Christa Ackroyd case and the IR35 lottery

Peter Rayney FCA CTA thinks BBC presenter Christa Ackroyd had rough justice in her recent IR35 case, Christa Ackroyd Media Limited v HMRC [2018] TC06334], over disputed income tax and NIC liabilities through her personal services company

23 Apr 2018

Image for capita plans rights issue after ps513m pre tax loss

Business | Capita plans rights issue after £513m pre-tax loss

Struggling FTSE 250 outsourcer, Capita, has announced plans to riase £700m through a rights issue to reorganise the business after it was revealed that the company suffered a £515.1m pre-tax loss in 2017

23 Apr 2018

Accountancy Firms

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Tax | Communication failure behind dissatisfaction with HMRC responses

Dissatisfaction with the time taken by HMRC to resolve queries is driven partly by the taxpayer’s own experiences of customer service and by the department’s levels of communication, while there is a widespread view that the department is not bound by the same requirements as its uses, analysis has found

23 Apr 2018

Image for complex disputes driving tax tribunal backlog

Tax | Complex disputes driving up tax tribunal backlog

The number of outstanding tax disputes waiting to be heard by the UK tribunals has continued to rise, as the high profile crackdown on tax avoidance by HMRC continues

23 Apr 2018

International Tax

Image for taxpayer rights under human rights act explained

Tax | Taxpayer rights under Human Rights Act explained

HMRC has issued factsheet CC/FS9 on the individual rights of taxpayers who are facing penalties for non-compliance with tax rules, focusing on article 6 of the European Convention on Human Rights

23 Apr 2018

International Tax

Law and Regulation

Image for pension funds risk cyber crime warns prag

Finance | Pension funds at risk from cyber crime, warns PRAG

The Pensions Research Accountants Group (PRAG) is warning that pension funds are at high risk of attack from cyber criminals as they have access to extensive personal identity data including addresses, financial records and banking details, which can be sold, or used to compromise or steal from other victims

23 Apr 2018

Financial Reporting

Accountancy Firms

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Business | 81% of mid-sized businesses at risk of breaching anti-money laundering rules

Medium sized businesses are proving slow to address the risks of falling foul of anti-money laundering (AML) and anti bribery legislation, because they are reluctant to spend time on non-financial reporting, according to RSM

23 Apr 2018

Accountancy Firms

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Tax | Accountants face increased HMRC demands for client information

HMRC requests to accountants and other advisers for confidential information on clients it wants to investigate for suspected tax crimes has hit a new high, with over 1,500 production orders issues last year, according to professional services firm RPC

23 Apr 2018

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Tax | Hammond wants global action on money laundering

Chancellor Philip Hammond is calling for a global crackdown on dirty money used to fund rogue regimes and illicit activity, with demands for more effective sanctions on North Korea and greater IMF scrutiny

23 Apr 2018

Accountancy Firms

20 Apr 2018

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Business | Top tips: how to carry out an HR data audit for GDPR

With the General Data Protection Regulation (GDPR) only a month away, Alastair Brown, chief technological officer at Bright HR, provides tips on how to carry out a HR data audit to identify areas which do not meet the new standards ahead of the deadline

20 Apr 2018

Accountancy Firms

AI & Technology

Image for late tax form returners risk daily charges

Tax | Late tax form returners risk daily charges

Anyone who has yet to submit their 2016/17 self-assessment tax return form is being urged to do so before the end of this month to avoid daily penalties of £10 accruing

20 Apr 2018

Image for barclays ceo faces fine over whistleblower probe

Business | Barclays CEO faces fine over whistleblower probe

The Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) are to fine Barclays CEO Jes Staley over an alleged breach of conduct after he attempted to find out the identity of a whistleblower in 2016

20 Apr 2018

Accountancy Firms

Called to Account

Image for hmrc clarifies process paying unpaid tax deceased landlords

Tax | HMRC clarifies process for paying unpaid tax for deceased landlords

HMRC has updated its Let Property Campaign Service, which allows landlords to disclose and settle any unpaid tax bills, to include information on how to make a disclosure on behalf of someone who has died

20 Apr 2018

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Business | Premier League clubs net a record £4.5bn

As the football season draws to a close, Premier League clubs collected a new record of £4.5bn in revenues last year up from £3.6bn the previous year, with wage costs across the league rising by 9% to £2.5bn, according to research from Deloitte

20 Apr 2018

Accountancy Firms

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Business | 75% of accountants want well-being support at work

Almost half of accountants believe their employer is not doing enough to help employees deal with work-related stress, anxiety and other mental health issues, and 58% believe the government should be doing more to promote wellbeing, according to a study by healthcare provider Westfield Health

20 Apr 2018

Accountancy Firms

Image for false contracts fraudster ordered pay ps195k

Business | False contracts fraudster ordered to pay £195k

A former finance director who was given a ten-year jail sentence for his role in a £160m financing fraud has been ordered to pay a confiscation order of £194,343 in full within three months or a default sentence of two years will be activated

20 Apr 2018

Called to Account

Image for hmrc passes 10m robot transactions total

Tax | HMRC passes 10m robot transactions total

HMRC has announced what it is calling a major milestone in its modernisation programme, having now processed 10m transactions using robots since 2015, a development which the department says has improved efficiency and customer experience

20 Apr 2018