Tax

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Image for qa tax and lease payments directors car

Tax | Q&A: tax and lease payments for director’s car

In this week’s VIP Tax Team Q&A, how is tax on lease payments and fuel costs for a director’s vehicle treated under benefits in kind rules when paid through director’s loan account?

12 Nov 2024

Tax | Tax filing deadlines: Nov 2024 to Mar 2025

Deadline for corporation tax for accounting periods ended 28 February 2024

12 Nov 2024

Tax | Trump tax reforms for expats on shaky ground

Plans to slash tax on Americans living abroad hinted at on the campaign trail by president elect Donald Trump are unlikely to get through Congress

11 Nov 2024

Tax

International Tax

Politics

Image for hospitality leaders hit back employer ps34bn nic hike

Business | Hospitality leaders hit back at employer £3.4bn NIC hike

Bosses at the country's top hospitality businesses are warning that the 1.2% rise in employer national insurance in April will inflict ‘unprecedented damage’

11 Nov 2024

Tax | Tax traps: gifting cash for a property purchase for children

Nadia Cowdrey, partner at DMH Stallard, explains how the hugely complex pre-owned asset tax (POAT) can catch out parents who gift cash to fund a property purchase for children and later live in the property

11 Nov 2024

Tax | Sign up for webinar on payroll versus dividends

11 Nov 2024

Tax

Personal Tax

Tax Planning

Image for chancellor defends tax raising reset budget

Tax | Chancellor defends tax raising as ‘reset Budget’

In the Chancellor’s first appearance before the Treasury Committee, Rachel Reeves defended decision to increase national insurance for employers

8 Nov 2024

Tax | HMRC warns landlords to disclose earnings

As the deadline for self assessment gathers pace, HMRC has urged anyone with unpaid tax on property income to disclose buy to let earnings

8 Nov 2024

Tax | Universities face cash squeeze from employer NI rise

The tuition fee rise may have been a shock to students, but universities may not be better off because of employer’s national insurance and minimum wage increases

8 Nov 2024

Tax | How will pension pots be taxed in future?

Inheritance tax will be charged on pension pots from 2027 to stop the use of pensions as a tax planning tool to reduce death taxes

7 Nov 2024

Tax | VAT receipts climb almost £10bn in one year

Total VAT for the 2023-24 tax year boomed as the tax take rose to almost £170bn, the revised figure for 2022-23 was £159bn

7 Nov 2024

Tax

VAT

HMRC

Image for accountant failed pay ps116k tax sideline work

Tax | Accountant failed to pay £116k tax for sideline work

An accountant who was paid by people to complete their tax returns as a gig job outside his PAYE employment failed to pay tax on these ad hoc earnings

6 Nov 2024

Tax

HMRC

Case Reports

Image for budget 2024 charity gift aid rules be strengthened

Tax | Budget 2024: Charity Gift Aid rules to be strengthened

HMRC is planning to clamp down on charitable tax reliefs claimed through Gift Aid, but not until 2026 to ‘give charities time to adjust to the new rules’

6 Nov 2024

Tax | EU set to adopt e-invoicing for VAT

In a sweeping change to EU VAT rules, the European council has agreed to go ahead with electronic invoicing and real-time data reporting

6 Nov 2024

Tax

International Tax

VAT

Image for bizarre transition rules give non doms easy exit

Tax | ‘Bizarre’ transition rules give non doms easy exit

The government is digging a deeper fiscal black hole with non-dom changes as a result of favourable transition rules for 10-year inheritance tax rule

5 Nov 2024

Tax | Budget 2024: LLP tax loophole closed in event of liquidation

In a bid to close a tax loophole, the Budget swept through an immediate change to tax rules apply to tax on gains in the event of the liquidation of a limited liability partnership

5 Nov 2024