Tax | HMRC service standards hit ‘all-time low’

Taxpayers are exasperated with the declining level of HMRC service with response levels rapidly deteriorating for five years in a row, leaving MPs ‘disappointed’

28 Feb 2024

Tax

HMRC

Tax Compliance

Tax | Opting to tax on commercial property

Rob Janering, partner at Crowe, explains how the option to tax for commercial property, previously known as an election to waive exemption, interacts with complicated VAT rules

28 Feb 2024

Tax

Property Tax

VAT

Tax Compliance

Tax | Weak economic case for Budget tax cuts, says IFS

The Institute for Fiscal Studies (IFS) has said the Chancellor should ‘tell us where the spending cuts will fall’ if tax cuts go ahead at the Budget

27 Feb 2024

Tax

Personal Tax

HMRC

Budget

Tax | HMRC loses £807k tax dispute with online gambler

An online only gambling business argued that cashback payments should be treated as prizes after HMRC claimed it owed £807,284

27 Feb 2024

Tax

Business Tax

HMRC

Tax Compliance

Case Reports

Tax | Q&A: SDLT on property transfer to a company via partnership

In this week’s Q&A, Croner-i’s Stuart Farmer, considers the stamp duty land tax (SDLT) implications and available tax reliefs when transferring a property to a company via a limited liability partnership (LLP)

27 Feb 2024

Tax

Property Tax

Tax Compliance

Tax Planning

Tax | HMRC advisory fuel rates for company car users from 1 March 2024

HMRC has cut advisory fuel rates for users of company petrol and diesel vehicles from 1 March 

27 Feb 2024

Tax

Employment Tax

Tax Compliance

| Just one in six Brits want tax cuts

With tax cuts rumoured to be on the agenda at next week’s Budget, the majority of people would like the Chancellor to leave tax rates alone

26 Feb 2024

Tax

Tax | HMRC reviews hugely complex enquiry powers

HMRC has launched a review of its enquiry powers to address extreme levels of complexity and hints at suspending time limits and overhauling the penalty regime

26 Feb 2024

Tax

HMRC

Consultations

Tax | Don’t get caught by EU e-invoicing rules

Mandatory real-time electronic invoicing is now required across EU member states affecting UK exporters with tough penalties for non-compliance, explains Ray Grove, head of corporate tax at Thomson Reuters

26 Feb 2024

Tax

International Tax

VAT

Tax Compliance

Tax | MTD for income tax will cost landlords £350 to implement

The move to Making Tax Digital for income tax from 2026 will cost sole traders and landlords on average £350 to set up the correct reporting system

23 Feb 2024

Tax

Making Tax Digital

Tax | IT contractor sees £35k tax penalties dismissed

An IT contractor who used a tax scheme promoted by Isle of Man based Montpelier has won an appeal over penalties, as First Tier Tribunal dismisses HMRC’s argument

22 Feb 2024

Tax

Personal Tax

HMRC

Tax | Volunteers to test MTD for income tax system wanted

HMRC is calling for accountants and tax advisers to take part in the first beta trials of Making Tax Digital (MTD) for income tax self assessment

22 Feb 2024

Tax

Making Tax Digital

HMRC

Technology

Tax | National insurance credit plan risks ‘falling short’

The head of HMRC has told the Treasury Committee that it will take at least two years to upgrade IT systems to handle the new national insurance credit for people who did not claim child benefit

22 Feb 2024

Tax

Personal Tax

HMRC

Tax | Spring Budget: what to expect

With the upcoming Spring budget fast approaching, Jonathan Barber, executive director of the Institute of Financial Accountants (IFA), advises SME accountants to ready themselves in anticipation of potential changes

22 Feb 2024

Tax

Budget

Tax | Bahamas removed from EU tax havens blacklist

The EU has given Bahamas, Belize, Seychelles, and the Turks and Caicos Islands a clean bill of health on tax compliance after removing them from the list of non-cooperative tax jurisdictions

21 Feb 2024

Tax

International Tax

Tax Planning