Tax

Latest news

Image for mcm fined ps172m over withholding tax abuse

Tax | MCM fined £17.2m over withholding tax abuse

The Financial Conduct Authority (FCA) has fined ED&F Man Capital Markets (MCM) £17,219,300 for abuse of withholding tax rules related to cum-ex trading

6 Jun 2023

Tax

Personal Tax

Case Reports

Tax | Q&A: tax on EIS/SEIS shares on death

In this week’s Q&A, Stephen Fletcher explains the inheritance and capital gains tax implications when disposing of enterprise investment scheme (EIS) shares after holder dies

6 Jun 2023

Tax | Airline training company loses £10.7m VAT appeal

An airline training provider has lost a High Court appeal against a demand issued by HMRC for £10.7m related to a clearance request

6 Jun 2023

Tax | London Irish hit with winding-up over tax bill

London Irish rugby club have been handed a winding-up petition by HMRC over an unpaid tax bill, becoming the third Premiership club to face financial meltdown

5 Jun 2023

Tax | HMRC strikers offered £1.5k one-off payment

The government has made an offer to striking civil servants of a one-off payment in addition to a 4.5% pay rise

5 Jun 2023

Tax

HMRC

Image for school fee scheme breaks tax rules

Tax | School fee scheme breaks tax rules

Parents using tax avoidance schemes to offset private school fees are being warned by HMRC that the schemes do not work

5 Jun 2023

Tax | Employee share incentive plans up for review

The government plans to overhaul schemes offering people shares in their employer to simplify the application process and review cost of tax reliefs

5 Jun 2023

Tax | Director jailed for six years over £7m VAT evasion

Two brothers have received lenghty prison sentences after stealing more than £7m in VAT and falsifying invoices over an eight-year period

5 Jun 2023

Tax | Wealth advisers criticise anti-tax culture

Advisers working in private wealth industry have called out the ‘anti-tax’ culture, which continues to negatively impact clients

5 Jun 2023

Tax | Self assessment threshold change risks higher tax bills

The move to take people out of self assessment is designed to help HMRC manage their workload and nothing to do with simplification, tax expert warns

2 Jun 2023

Tax | Filing deadlines: June - September 2023

Our handy guide to tax filing deadlines for amending corporation tax returns for accounting periods ended 30 June 2021 and balancing payments for VAT annual accounting

1 Jun 2023

Tax

Tax Compliance

Tax Planning

Image for property developer loses ps279m tax case

Tax | Property developer loses £2.79m tax case

A property developer has lost an appeal at the Upper Tribunal over a dispute with HMRC over withholding tax on £2.79m in income earned from interest

1 Jun 2023

Tax | Property sales down by 20% in 2023

The total number of property transactions so far this year have fallen by 20% as buyers pull back from the market as interest rates soar

1 Jun 2023

Tax

Property Tax

Tax | Amazon paid £781m in UK taxes

The UK division of Amazon paid £781m in corporation tax and employer national insurance in 2022, up £130m on the previous year

1 Jun 2023

Tax | How to protect yourself as fraudsters target taxpayers

The rising level of scammers posing as HMRC means accountants need to ensure their clients are able to resist attack, explains Stuart Miller, head of product compliance at Xero

1 Jun 2023

Tax

Tax Compliance