Tax | Isle of Man umbrella scheme reference number upheld at tribunal

HMRC has won a case at the First Tier Tribunal after Countrywide Partners Limited failed to overturn use of a scheme reference number as judge said it was a tax avoidance scheme

24 Apr 2024

Tax

Employment Tax

Personal Tax

Case Reports

Tax | Using electric vehicles to reduce company car tax

Emma Loveday explains the tax-related advantages of offering electric vehicles (EVs) on company car schemes and how to reduce benefit in kind liability

24 Apr 2024

Tax

Business Tax

Employment Tax

Tax Planning

Tax | IT consultant loses £243k IR35 case over ‘error of law’

After a five-year hiatus since the first case, HMRC has a pyrrhic victory at Upper Tribunal as judges send case back to FTT

23 Apr 2024

Tax

Case Reports

Tax | France joins call for 2% billionaire tax

At the IMF meeting in Washington, France reiterated support for a 2% tax on the global wealth of billionaires, with a target of 2027 for the new tax

23 Apr 2024

Tax

Personal Tax

Tax Planning

Politics

Tax | Closing inheritance tax loopholes could rake in £2bn

Although the headline inheritance tax (IHT) rates were frozen in the Budget, there were favourable reforms to agricultural relief

23 Apr 2024

Tax

Personal Tax

Inheritance Tax

HMRC

Tax | Warning to recruiters on use of dodgy umbrella companies

HMRC has ramped up action against unscrupulous umbrella companies warning recruitment consultants to avoid using those promoting tax avoidance schemes

23 Apr 2024

Tax

Employment Tax

HMRC

Tax Compliance

Tax | Total tax take doubled to £827bn since 2010

Since the Conservatives took over in 2010 total tax receipts have almost doubled to £827bn with the largest rise of £130bn in 2021/22

23 Apr 2024

Tax

Business Tax

Employment Tax

Personal Tax

VAT

HMRC

Tax | IESBA launches global ethics standards on tax planning

The ethics body for accountants plans to tighten up rules on the ethical considerations for accountants involved in tax planning with the launch of the first set of global standards

23 Apr 2024

Tax

Tax Planning

Tax | Q&A: abolition of multiple dwellings relief

In this week’s Q&A, Croner-i tax advice consultant Roger Bradbury looks at the tax implications of the termination of multiple dwellings relief for property transactions straddling the rule change

23 Apr 2024

Tax

Property Tax

Tax Compliance

Tax | Chancellor runs London Marathon in under six hours

Jeremy Hunt took a day out from planning whether to cut stamp duty or freeze tax thresholds for longer by running the London Marathon

22 Apr 2024

Tax

Politics

Tax | MTD pilot not open to landlords with jointly owned property or HICBC

HMRC has set the criteria for the type of clients who can sign up to the new Making Tax Digital for Income Tax Self Assessment (ITSA) trial for agents

22 Apr 2024

Tax

Making Tax Digital

HMRC

Technology

Tax | Majority of HNWI could leave UK due to high taxes

Over 80% of high net worth individuals are concerned about their finances with nearly two thirds considering moving overseas, with tax cited as the main reason to relocate

22 Apr 2024

Tax

Personal Tax

Tax Planning

Tax | Concreter forced to sell home to pay £20k HICBC

A high income child benefit charge (HICBC) taxpayer was forced to sell his house to pay the charge, but the penalty was reduced to £2,500 at appeal

22 Apr 2024

Tax

Personal Tax

HMRC

Tax Compliance

Case Reports

Tax | ZTE telecoms giant owes HMRC £1.4m tax bill

A Chinese telecoms company operating in the UK failed to pay at least £1.4m in PAYE income tax and National Insurance contributions (NICs) for nine years

22 Apr 2024

Tax

Employment Tax

HMRC

Tax | What does artificial intelligence and machine learning mean for tax?

Artificial intelligence and machine learning is set to radically transform all aspects of accountancy but how will tax be affected, asks Andrew Burman, principal at Ryan   

22 Apr 2024

Tax

Tax Compliance

Technology

AI & Technology