Tax

HMRC

Tax | FTT ruling reversed on VAT rating for static caravans in Colaingrove

Caravan owners can take some relief from the latest ruling by the Upper Tribunal (UT) which has allowed part of an appeal by HMRC against a First Tier Tribunal (FTT) decision on how to decide the VAT rate applicable to sales of static caravans, saying the FTT was wrong to state that the ‘removable contents’ of a caravan should be zero-rated

23 May 2014

VAT

Tax | £21bn rise in tax revenue driven by house sales

Increased income tax revenues and a substantial rise in Stamp Duty Land Tax (SDLT) receipts have pushed up HMRC’s overall tax take in the last twelve months, which is now £21bn higher than the previous year

23 May 2014

Tax | Improvements to Business Tax Dashboard service

HMRC has improved the information and supporting guidance on the Business Tax Dashboard PAYE screens

22 May 2014

Employment Tax

HMRC

Tax | Backlog in HMRC requests for employment histories

Employers who are involved in compensation claims must wait 40 days for response from HMRC as a result of a backlog of requests for employment history data

21 May 2014

Employment Tax

Tax | HMRC ‘names and shames’ tax defaulters in fifth list

HMRC has published its fifth public list of individuals it classes as ‘deliberate tax defaulters’ who have been subject to an investigation and found to owe more than £25,000 in tax

21 May 2014

Tax | HMRC tackles landlord tax evasion with online training

In a bid to stop tax evasion by landlords, HMRC has set up a series of online tutorials for landlords to help them understand when and how to pay tax on property they have let out

20 May 2014

Tax | OECD webcast to outline progress on tax reform

The OECD's Centre for Tax Policy and Administration (CTPA) will provide an update on the base erosion and profit shifting (BEPS) project in a webcast scheduled for 26 May.

14 May 2014

Tax | Improvements to PAYE electronic messages for employers

A shake-up of HMRC's electronic messaging service for employers has been announced which will mean that employers receive more timely notifications of late filing, non-filing and late payment through the Generic Notification Service (GNS)

13 May 2014

Tax | HMRC technical manuals move to gov.uk platform

HMRC is planning to move its technical manuals to the www.gov.uk web portal over the next few months, starting with the Employment Income Manual which will be used as a pilot to iron out issues before the migration of all manuals which cover around 80,000 pages of technical information for tax agents and employers.

13 May 2014

HMRC

Tax | Global tax rules increasingly complex for multinationals, says EY

Multinationals are increasingly worried about the tax risks they face if national governments do not coordinate their responses to the OECD’s Base Erosion and Profit Sharing (BEPS) project, according to research by EY.

13 May 2014

Tax Planning

Image for take trio face C2 A330m tax bill over icebreaker avoidance scheme

Tax | Take That trio face £30m tax bill over Icebreaker avoidance scheme

Three members of the pop group Take That are among around 1,000 investors who potentially face large tax bills after HMRC won a landmark tribunal ruling on the Icebreaker partnership scheme, which the First Tier Tribunal (FTT) ruled was set up specifically to shelter over £330m from tax

12 May 2014

Tax | HMRC powers to access bank accounts risky, say MPs

The Treasury select committee has warned that proposals announced in the Budget to give HMRC powers to access taxpayers' bank accounts to recover outstanding tax debts ‘could develop into a return to Crown preference by stealth’ and required stringent oversight to prevent abuse

9 May 2014

Tax | UK charges treble average world inheritance tax rate

The UK charges the highest proportion of inheritance or estate tax compared to a basket of world economies, with the government taking three times as much of an individual’s estate as the global average

9 May 2014

Tax | Firms criticise complexity of OECD hybrid mismatch tax reform

The OECD's plans to reform hybrid mismatch arrangements have been met with criticism from firms and interested stakeholders due to the complexity of the proposals and lack of safeguards to ensure that the measures are adopted universally

8 May 2014

Tax | Vodafone plans to appoint mediator to resolve Indian CGT dispute

Vodafone plans to go to international arbitration to resolve its long-running tax dispute with the Indian government over claims the telecoms giant owes around $2.6bn (£1.5bn) in taxes as a result of the takeover deal of Hutchison Essar seven years ago

8 May 2014