Business &amp; Accountancy Daily

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Tax | PAYE will be payable by direct debit to HMRC

HMRC has confirmed plans to modernise its direct debit payment system for employer PAYE so a recurring direct debit can be set up for the first time

28 Jul 2022

Business | Scottish corporate insolvencies up nearly 50%

Corporate insolvency numbers in Scotland increased by 49.1% from the same time last year with 243 insolvencies in the last quarter

28 Jul 2022

Restructuring & Insolvency

Companies

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Tax | Inheritance tax hits record £6.1bn

The latest figures on inheritance tax (IHT) receipts show a 14% increase in revenue to £6.1bn for 2020-21, marking the largest ever revenue shot to the Treasury

28 Jul 2022

Tax | Overseas owners can register property from 1 August

Companies House has confirmed that the Register of Overseas Entities will open for registrations for property owners based overseas from 1 August 2022

28 Jul 2022

Tax | HMRC plan for data grab needs wider consultation, says ATT

The Association of Taxation Technicians (ATT) says that HMRC’s publication of a new data collecting consultation is far too important a subject to be left just to the tax community because of the wide scope and impact of a potential ‘business census’

28 Jul 2022

Tax | HMRC wants data on working hours and job titles

In an unexpected power grab, HMRC is working on plans to access more information about individual taxpayers, particularly the self employed and employees, from working hours to job titles, to tackle tax evasion

27 Jul 2022

HMRC

Consultations

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Tax | Practical planning - bare trusts and tax

The inheritance tax and capital gains tax rules treat bare trusts quite differently so it is important to plan carefully, explains Andrew Cockman LLB LLM TEP CTA (Fellow), director, personal tax advisory at Azets

27 Jul 2022

Tax | Sunak would slash VAT on energy bills

Leadership challenger Rishi Sunak has announced he will scrap VAT on energy bills if he becomes prime minister.

27 Jul 2022

VAT

Politics

Business | Risk of recession rattles CFOs

Two thirds of CFOs are concerned that the UK will go into recession as pressure on business grows with labour shortages, rising inflation and supply chain issues

27 Jul 2022

Companies

Accountancy Firms

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Tax | Book a place on our CGT & SDLT residential property webinar

Recent tax cases have highlighted a number of issues relating to capital gains tax (CGT) and stamp duty land tax (SDLT) on residential property

27 Jul 2022

Tax Planning

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Business | Treasury will relocate more jobs to Darlington campus

Darlington has been chosen as the permanent basis for the government’s Economic Campus, as part of plans to move government departments out of London.

27 Jul 2022

Companies

Careers

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Business | Tax avoidance promoter fined £1m

A tax avoidance scheme promoter has been hit with a £1,074,600 fine after a legal challenge by HMRC

27 Jul 2022

Called to Account

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Business | FCA introduces consumer duty for financial service providers

The Financial Conduct Authority (FCA) plans to bring in a new consumer duty, which will improve how firms serve consumers from July 2023

27 Jul 2022

Tax | Q&A: stamp duty issues on replacing main residence

In this week’s Q&A, Kabita Tank, tax adviser at Croner-i, considers whether the higher rate stamp duty land tax rate is reclaimable if a property owner quickly changes status of additional purchase

26 Jul 2022

Tax Compliance

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Tax | Trustees lose £1.7m business property relief claim

Two trustees have lost a case in the First Tier Tribunal over a dispute about whether a claim for business property relief was allowable after HMRC ruled it out

26 Jul 2022

Case Reports

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Tax | Sunak and Truss set out tax plans

Last night, Liz Truss and Rishi Sunak faced each other during a heated hour-long televised debate from Stoke-on-Trent where tax and economic policy dominated

26 Jul 2022