Tax

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Tax | Estate agents move to HMRC anti-money laundering supervision

From 1 April, estate agents have moved under the HMRC money laundering supervisory remit as opposed to reporting to the Office of Fair Trading (OFT) as was previously the case.

2 Apr 2014

Tax | HMRC warning on charges for final 2013-14 PAYE submissions

Employers who have already sent their final 2013-14 PAYE submission to HMRC early need to make sure there are no gaps in their reporting to avoid an estimated charge

1 Apr 2014

Tax | HMRC allows LLPs to register partner SA and NICs on one schedule

HMRC has agreed to accept single submissions from either a nominated partner or registered agent to register ten or more partners for self assessment and national insurance contributions (NICs) as long as the information is submitted on a schedule in a speficied spreadsheet format

1 Apr 2014

Tax | UK and Ireland inheritance tax rates highest in world

The UK has one of the highest rates of inheritance tax (IHT) in major world economies, more than three times the global average, with the threshold of £325,000 ten times greater than the US where the federal estate tax only kicks in for estates worth over £3m

1 Apr 2014

Tax

Personal Tax

Tax Planning

Tax | N-Dubz star Fazer declares bancruptcy owing £123k to taxman

N-Dubz rapper Richard Rawson, who is also known by stage name Fazer, has gone bankrupt with Baker Tilly partner Mark Sands appointed trustee in bancruptcy

1 Apr 2014

Tax | VAT updates: April 2014

The latest news on VAT including reaction to the Supreme Court judgment on SecretHotels2, Avon Cosmetics and agents, and Brockenhurst College wins appeal over educational supplies and VAT exemptions by Graham Elliott, transaction tax consultant at Withers Worldwide

1 Apr 2014

Tax | Tax updates: April 2014

The latest tax cases at First Tier and Upper Tribunal including Barnes tax avoidance scheme, Ingenious Games and Bristol & West closure notice error

1 Apr 2014

Tax | Employment tax updates: April 2014

The latest developments in employment taxes from the recent Upper Tribunal appeal win by Apollo Fuels over car benefit to changes to Class 1 NICs

1 Apr 2014

Tax | Called to Account: April 2014

A London accountant disqualified as director over failure to pay £147k tax bill for his firm while a Torquay hotelier messes up the books and fails to account for £200k hole

1 Apr 2014

Leadership & Management

Accountancy Firms

Image for government goes ahead upfront payments tax schemes

Tax | Government goes ahead with upfront payments for tax schemes

The government has signalled that it plans to implement the majority of its proposals to force payment of tax upfront when individuals have signed up to a tax scheme which is subsequently found to contravene avoidance legislation and the measures will be enacted in Finance Bill 2014

31 Mar 2014

Tax | FRC to investigate Cup Trust auditor Hillier Hopkins

The Financial Reporting Council (FRC) is to extend the scope of its investigation into the Cup Trust, the charity which faced charges of accounting irregularities and Gift Aid abuse, and will now look at the role of the auditor

31 Mar 2014

Tax | Social Investment Tax Relief guidance published

HMRC has published guidance on the new Social Investment Tax Relief (SITR) which comes into operation from 6 April 2014

31 Mar 2014

Tax | CGT charge for non-resident property sales out for consultation

The government has issued a three-month consultation on plans to introduce a capital gains tax (CGT) charge on non-residents selling property in the UK, which is likely to hit the expat community as well as high net worth foreign property owners.

28 Mar 2014

Tax | Seven arrested over £12m VAT fraud in Thames Valley

Seven people in the Thames Valley area have been arrested in connection with a multimillion VAT fraud and money laundering scheme following a joint raid by police and tax investigators.

28 Mar 2014

Tax

HMRC

VAT

Tax | NAO report highlights HMRC failure to monitor tax relief abuse

The National Audit Office (NAO) says HMRC needs to do more to monitor the introduction and operation of tax reliefs as currently there is inadequate information about the effectiveness, cost and unintended consequences of particular reliefs, including potential for tax avoidance

28 Mar 2014