Tax

Latest news

Image for payroll issues flagged post budget

Tax | Payroll issues flagged post-Budget

In a Budget light on new employment tax measures, there are a few issues for payroll managers to get to grips with, advises Lora Murphy ACIPP, Chartered Institute of Payroll Professionals

19 Apr 2023

Tax

Employment Tax

Image for complete abab taxpayer survey hmrc performance

Tax | Complete ABAB taxpayer survey on HMRC performance

The annual Administrative Burdens Advisory Board ‘Tell ABAB’ survey is now open for small businesses to feedback on HMRC and the tax system

19 Apr 2023

Tax

HMRC

Image for doctor loses ps30k contractor loan case

Tax | Doctor loses £30k contractor loan case

A doctor has lost a First Tier Tribunal (FTT) appeal related to two contractor loan schemes involving offshore trusts which were liable to income tax as earnings

19 Apr 2023

Tax | Directors’ loans benefit from 2.25% interest rate

Despite the rise in interest rates, directors’ loans are still enjoying a low 2.25% rate, explain Chris Etherington, tax partner, and Alex Foster, partner, RSM

19 Apr 2023

Tax

Business Tax

Personal Tax

Image for definition van expenses purposes clarified

Tax | Definition of van for expenses purposes clarified

HMRC has reminded employers to check the classification of company cars and vans for benefit in kind purposes after the Coca-Cola Court of Appeal ruling

19 Apr 2023

Tax

Employment Tax

Tax Compliance

Image for dentist worker loses ps36k furlough case

Tax | Dentist worker loses £36k furlough case

A payroll manager at a dental practice has lost a First Tier Tribunal (FTT) appeal related to Coronavirus Job Retention Scheme (CJRS) overpayments

18 Apr 2023

Tax | Q&A: basis period transition and tax calculation

In this week’s Q&A, Croner-i tax adviser David Lawson, explains how to calculate profits and tax liability during the transitionary basis period

18 Apr 2023

Tax

Business Tax

Tax Compliance

Image for double council tax scottish second homes

Tax | Double council tax for Scottish second homes

The Scottish government is considering plans to allow councils to charge up to double council tax rates on second and empty homes

18 Apr 2023

Tax | Scottish whisky makers lobby for reversal of tax hike

The Scotch whisky industry is calling on the UK government to abandon plans to increase the tax on spirit sales by 10.1% this summer

18 Apr 2023

Tax

VAT

Budget

Image for hmrc plans points based penalties self assessment

Tax | HMRC plans points-based penalties for self assessment

The current standard £100 fine for late filing of self assessment tax returns is due to be changed to a points-based system from 2026

17 Apr 2023

Tax | Airbnb owners will have to pay VAT on rentals across EU

An overhaul of EU rules will affect Airbnb landlords and agents for villa owners across Europe as VAT will be chargeable on all rentals

17 Apr 2023

Tax

VAT

Image for dentist loses ps1m remuneration trust appeal

Tax | Dentist loses £1m remuneration trust appeal

A dentist has lost a First Tier Tribunal (FTT) appeal against closure notices issued by HMRC which rejected claims for tax relief for payments to a remuneration trust

17 Apr 2023

Tax | Discounted gift trust interest rate rises

The valuation rate of interest used by HMRC in valuing the retained rights under discounted gift trust schemes will increase from 4.5% to 6.75%

17 Apr 2023

Tax | 140k buy to let landlords sell up to retire

Around 140,000 landlords retired in 2022, accounting for nearly three-quarters (73%) of all landlord sales, while the number of incorporations has risen due to tax concerns

17 Apr 2023

Tax

Property Tax

Tax Planning

Image for homeowners lose ps177k sdlt appeal

Tax | Homeowners lose £177k SDLT appeal

A homeowner has lost a First Tier Tribunal (FTT) appeal over a disputed stamp duty land tax (SDLT) bill related to whether the property was safe to occupy

14 Apr 2023