Tax

Latest news

Image for royal bank canada wins ps19m tax dispute

Tax | Royal Bank of Canada wins £19m tax dispute

HMRC has lost a long running tax case after Supreme Court rules in favour of Royal Bank of Canada over disputed £19m tax bill related to North Sea oil payments

13 Feb 2025

Business | Government consults on mandatory e-invoicing

The government has launched a joint HMRC/DBT consultation on plans for the rollout of electronic invoicing and whether to make it mandatory for businesses in the UK

13 Feb 2025

Tax | Virtual events face residence based VAT charge

An overhaul of the way VAT is charged on tickets to live virtual events in the EU means place of supply rules come into play for UK businesses selling tickets to delegates based in member states, explains Alex Baulf, head of global indirect tax at Avalara

13 Feb 2025

Tax | HMRC criticised for ‘lack of curiosity’ about tax evasion

MPs on Public Accounts Committee criticise HMRC over its effectiveness in clamping down on tax evasion, saying it has a ‘lack of curiosity’ about extent of problem

12 Feb 2025

Tax | Alexander McQueen charity wins £360k tax appeal

A building owned by Sarabande, a charity set up by the late fashion designer Alexander McQueen, has won its fight at the First Tier Tribunal against a tax dispute about the subleasing of an art gallery to a subsidiary

12 Feb 2025

Tax | Deeds of variation and post-death tax planning

Post-death planning can be a useful tool and deeds of variation present families with significant tax planning opportunities, but care must be taken when using deeds of variation, explains Jo Lawless FCA, CTA, senior technical writer at Croner-i

12 Feb 2025

Tax | HMRC cuts late payment interest rate to 7%

Following the February cut in the base rate, HMRC will reduce late payment and repayment interest rates from 25 February

11 Feb 2025

Tax

HMRC

Tax Compliance

Tax | HMRC case worker yield down 10% post pandemic

The productivity of HMRC compliance staff has dropped since the pandemic, with each officer pulling in £130,000 less on average finds National Audit Office (NAO)

11 Feb 2025

Tax

HMRC

Tax Compliance

Image for qa tax offshore fund gains and losses

Tax | Q&A: tax on offshore fund gains and losses

Ria Dhillon, tax adviser at Croner-i, explains the tax position on offsetting losses against gains and the importance of defining the fund

11 Feb 2025

Tax | HMRC staff survey reveals bullying culture

Bullying seems to be a problem at HMRC with over half of those affected feeling that no action was taken, while two thirds of staff said their pay was ‘inadequate’

10 Feb 2025

Tax

HMRC

Image for toyota dealer wins ps14m tax relief appeal

Tax | Toyota dealer wins £1.4m tax relief appeal

An extensive conversion of a warehouse into a Toyota showroom qualified for business premises renovation allowance despite HMRC arguing it was a new building

10 Feb 2025

Tax | HMRC strike extended to mid March

Call centre staff at HMRC in Newcastle have added six dates to their strike action, affecting employer helpline and construction industry scheme helplines, in a bid to reinstate sacked union reps

10 Feb 2025

Tax

HMRC

Work

Image for lloyds faces ps1bn tax bill over irish exit

Business | Lloyds faces £1bn tax bill over Irish exit

Lloyds Banking Group has lost the first round of a tax dispute with HMRC at the First Tier Tribunal over a historic £1.07bn claim for cross-border group tax relief on Irish transactions, but it will appeal the decision

7 Feb 2025

Tax | IHT on pension pots could delay probate and raise costs

Plans to charge inheritance tax on unused pension pots could lead to delayed probate agreements and higher costs for 50,000 families a year

7 Feb 2025

Business | LLP partners: self-employed or employees post Bluecrest

Mark Waddilove, partner at RSM, considers the tax status of partners in limited liability partnerships after the Bluecrest decision

6 Feb 2025

Business | Croner-i and KPMG UK sign alliance on tax content driven by AI

Croner-i has announced an alliance agreement with KPMG UK to integrate Croner-i’s tax content into KPMG’s information services, driven by highly intuitive AI and search functionality

6 Feb 2025