Tax

Latest news

Image for points based penalties mtd itsa trial

Tax | Points-based penalties for MTD for ITSA trial

Anyone taking part in the pilot trial for Making Tax Digital for Income Tax will fall under the new points-based penalty regime although they will not be enforced until 2026

17 Apr 2024

Tax | How will closure of Government Gateway affect accountants?

Taxpayers will be the first group to transfer from Government Gateway to One Login, but how will this impact accountants, asks Mike Newman, CEO of My1Login

17 Apr 2024

Tax | End of MDR tax break will be ‘counterproductive’

A group of property developers and representatives for tenants have written to the Chancellor to express serious concerns about the abolition of multiple dwellings relief

16 Apr 2024

Tax | Acacia umbrella collapsed owing HMRC £494k

A Liverpool umbrella company called out for promoting tax avoidance schemes went into liquidation with tax debts of £494,000

16 Apr 2024

Tax

Employment Tax

HMRC

Image for qa tax implications buying out fellow director

Tax | Q&A: tax implications of buying out a fellow director

In this week’s Q&A, Croner-i tax advisor Stephen Fletcher, explains the tax treatment for a company purchase of own shares, and the trade benefit and ongoing connection tests

16 Apr 2024

Tax | Scottish taxpayers need to check tax code

Anyone living in Scotland needs to make sure they are on a ‘S’ tax code to ensure they are paying the correct tax

15 Apr 2024

Tax

Personal Tax

Tax Compliance

Image for wales plans abolish mdr and six dwellings rule

Tax | Wales plans to abolish MDR and six-dwellings rule

Wales is consulting on plans to remove multiple dwellings relief in line with the abolition in England from June

15 Apr 2024

Tax

Property Tax

Consultations

Image for 650k phone calls hmrc abandoned february

Tax | 650k phone calls to HMRC abandoned in February

Three quarters of people who phoned HMRC had to wait an average 24 minutes for anyone to answer with 650,000 calls abandoned

15 Apr 2024

Tax

Making Tax Digital

HMRC

Image for converted garage does not qualify ps75k mdr tax relief

Tax | Converted garage does not qualify for £75k MDR tax relief

The buyer of a £1.8m house in north west London must pay £75,000 in stamp duty after multiple dwellings relief (MDR) appeal dismissed

15 Apr 2024

Tax | HMRC approach is harming valid R&D claims

With HMRC investigating half of research and development tax relief claims, and criticism of inexperienced case workers, Danielle Ford, partner and Riocard Hoye, senior manager at haysmacintyre, examine how companies can deal with an investigation

15 Apr 2024

Tax

Business Tax

Tax Compliance

Image for blackrock loses ps654m tax case over barclays acquisition

Tax | BlackRock loses £654m tax case over Barclays acquisition

HMRC has won a long-running dispute with asset management giant BlackRock over a £654m claim for corporation tax deductions on a $4bn loan

12 Apr 2024

Tax

Business Tax

Case Reports

Image for itv and lse likely be cleared state aid tax case

Tax | ITV and LSE likely to be cleared in state aid tax case

A top legal adviser to the Court of Justice of the European Union (CJEU) has indicated that businesses using UK controlled foreign companies regime did not break EU state aid rules

11 Apr 2024

Tax

Business Tax

Case Reports

Image for essential tax tips how grow your pension

Tax | Essential tax tips: how to grow your pension

With the triple lock pension guarantee taking the state pension closer to the frozen tax-free allowance threshold we look at tips for saving more and avoiding the stealth tax

11 Apr 2024

Tax | HMRC freezes director’s loan interest at 2.25%

In a surprise move, the official rate of interest (ORI) for beneficial loan arrangements like director’s loans will be held at 2.25% for the second year running

11 Apr 2024