Tax

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Tax | Public Accounts Committee to probe Treasury on business tax reliefs

Lin Homer, the HMRC’s chief executive, is due in front of the Public Accounts Committee (PAC) this afternoon as part of an evidence session looking at the effectiveness and costs of business tax reliefs, ssuch as capital allowances, R&D reliefs and SEIS

7 Apr 2014

Image for lords psc group calls hmrc justify deterrence value ir35

Tax | Lords PSC group calls for HMRC to justify deterrence value of IR35

HMRC lacks sufficient information to judge whether IR35 legislation is having the intended effect and is proportionate, and needs to do more to justify retaining the IR35 rules, according to the findings of the House of Lords select committee on Personal Service Companies (PSC)

7 Apr 2014

Law and Regulation

Tax | Guidance: telling HMRC about a change of gender

HMRC has published guidance for advisers on how to tell the tax authorities about a taxpayer’s change of gender

7 Apr 2014

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Tax | LLP tax reforms: don't fall foul of the new rules

LLPs are simply not the avoidance vehicles HMRC seems to think but there are still a number of pitfalls in the new rules, explains Tina Riches, national tax partner at Smith & Williamson

4 Apr 2014

Law and Regulation

Accountancy Firms

Tax | Pension freedom: reform of defined contribution schemes

Reform of defined contribution pensions and removal of compulsory annuity purchases raise tax issues in the run-up to retirement, says Roy Thompson

4 Apr 2014

Image for ciot warns charity donors unexpected gift aid liability

Tax | CIOT warns charity donors on unexpected Gift Aid liability

CIOT is warning anyone who will no longer be paying income tax following this weekend’s increase in the personal allowance to check any ‘enduring’ Gift Aid declarations or risk receiving an unexpected tax bill

4 Apr 2014

Tax | Worst excuses for minimum wage abuse

‘When the minimum wage goes up I do increase the amount I pay a little, even if the total pay is still below the minimum wage. I don’t think it’s right to ignore rises in the minimum wage.’

4 Apr 2014

Law and Regulation

Image for hmrc software upgrade weekend

Tax | HMRC software upgrade this weekend

HMRC has announced a software upgrade will take place over the weekend affecting some of its online services, with the bulk of the work taking place between the evening of Friday 4 April and the morning of Sunday 6 April

4 Apr 2014

Tax | Tax residence tool updated for SRT liability

HMRC has released an updated version of the statutory residence test (SRT) tool, which helps taxpayers determine their tax residence status in the UK for tax years 2013-14 onwards for income tax and capital gains tax purposes

4 Apr 2014

International Tax

Image for hmrc issue personal tax statements 24m october 2014

Tax | HMRC to issue personal tax statements for 24m from October 2014

The government is set to launch personal tax statements this autumn in a move to make tax more transparent and send taxpayers an annual overview of their tax payments, detailing how their 2013/14 tax year income tax and National Insurance contributions have been calculated, their average tax rates and how this contributed to public expenditure

3 Apr 2014

Tax | KPMG's Hickman to head up OECD transfer pricing unit

Andrew Hickman has been appointed head of the OECD’s transfer pricing unit at the Centre for Tax Policy and Administration. He will take up the role in May 2014 when he leaves his current role at KPMG in the UK.

3 Apr 2014

International Tax

Leadership & Management

Accountancy Firms

Tax | OECD tax reforms point to split between profits and company’s activities

Changes to international tax rules will not discriminate against smaller countries such as Ireland with lower tax rates, according to the latest update from the OECD’s working party on Base Erosion and Profit Shifting (BEPS), although there group warned that companies involved in profit shifting should review their tax approach.

3 Apr 2014

International Tax

Accountancy Firms

Tax | Multinationals see transfer pricing as major tax issue, says Taxand

The confusing messages around tax legislation and rules from regulators and governments on global taxation is creating uncertainty among businesses as they struggle with compliance and transparency issues according to research by tax advisers, Taxand

3 Apr 2014

International Tax

Tax | Employer advice for staff without revised 2014-15 tax codes

HMRC has published advice for employers to give their employees if they have not been issued with a new tax code for 2014-15

2 Apr 2014

Tax | Government drives through foreign HGV tax a year early

The government has introduced a time-based road levy for foreign HGV drivers to create a level playing field for UK hauliers, who face similar charges and road tolls across the EU. The measure is expected to raise £20m in tax revenues

2 Apr 2014

Tax | Rule change for bareboat chartering in oil and gas sector

HMRC has published draft legislation, an explanatory note and a Tax Information and Impact Note (TIIN) for UK oil and gas – offshore bareboat chartering

2 Apr 2014

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