Tax | US IRS waives late tax return penalties

The US Internal Revenue Service (IRS) plans to waive penalties for late returns for US businesses and individual taxpayers who missed filing deadlines at the height of the covid-19 pandemic

25 Aug 2022

Tax

Personal Tax

International Tax

Tax | HMRC targets offshore property corporate owners

In the latest clampdown on tax avoidance, HMRC is launching a campaign to target offshore corporates owning UK property

25 Aug 2022

Tax

Property Tax

HMRC

Tax Compliance

Tax | CIOT sets out three-point tax plan for incoming PM

Experts at the Chartered Institute of Taxation (CIOT) are calling for the next prime minister to review the Making Tax Digital rollout timetable and simply the tax system 

24 Aug 2022

Tax

Making Tax Digital

HMRC

Tax | HMRC clarifies common errors on furlough claims

HMRC has issued a detailed Q&A for businesses on how to deal with common errors in the calculation of Coronavirus Job Retention Scheme (CJRS) grants and which issues do not need to be corrected 

24 Aug 2022

Tax

Employment Tax

HMRC

Tax Compliance

Business

Companies

Tax | Former F1 boss denies £400m fraud charge

The former head of F1, Bernie Ecclestone, has denied charges of fraud over an alleged failure to declare £400m in overseas assets to the taxman

23 Aug 2022

Tax

HMRC

Law and Regulation

Called to Account

Tax | Budget without OBR analysis would be ‘flying blind’

The chair of the Treasury Committee has said that producing a Budget without technical analysis of the economic situation would be the equivalent of ‘flying blind’

23 Aug 2022

Tax

Budget

Politics

Tax | Q&A: joint venture companies and EMI schemes

In this week’s Q&A, Croner-i tax adviser Marsha Haywood examines whether an enterprise management incentive (EMI) scheme can be used when a joint venture company is involved

23 Aug 2022

Tax

Business Tax

Tax Compliance

Tax | One week left to update post-16 child benefit claims

HMRC is reminding parents and carers of 16 to 19-year-olds that they have until 31 August to confirm whether their teenager is staying in full-time education or approved training

23 Aug 2022

Tax

Personal Tax

HMRC

Tax | CIOT and ATT set up joint crypto tax working group

Leading tax experts have set up a joint cryptoassets working group to focus on the tax complexities of dealing with crypto currency and tax compliance for accountancy firms

22 Aug 2022

Tax

Personal Tax

Tax Compliance

Business

Accountancy Firms

Tax | Commonwealth Games letters warned about tax liability

Homeowners who rented out properties during the Commonwealth Games need to make sure they are registered for self assessment to pay tax liability, warns HMRC

22 Aug 2022

Tax

Personal Tax

Property Tax

Tax Compliance

Tax | Tax take up £26.7bn as threshold freeze hits taxpayers

Tax revenue is soaring as the government collected £73.8bn in tax receipts in July, up more than £17bn on the previous month

19 Aug 2022

Tax

HMRC

Tax | HMRC confirms MTD penalties from 1 November

The head of HMRC has written to accountancy firms informing them that the soft landing penalty waiver for Making Tax Digital for VAT will be removed from November

19 Aug 2022

Tax

Making Tax Digital

Tax Compliance

Tax | Director loses £42k appeal over tax penalty

A director of a small group of companies trading in residential care homes and supported living has lost an appeal against a First Tier Tribunal (FTT) decision over income tax

19 Aug 2022

Tax

Personal Tax

HMRC

Case Reports

Law and Regulation

Tax | Scottish public sector fraud hits £14.9m

The overall level of public sector fraud in Scotland has fallen by £0.4m to £14.9m with a clampdown on abuse of council tax discounts

19 Aug 2022

Tax

Tax Compliance

Law & Guidance

Tax | London landmark tax avoidance scheme named

A tax avoidance promoter based in The Shard has been exposed by HMRC with users warned to withdraw or risk large tax bills as the majority of their income has not been taxed

18 Aug 2022

Tax

Personal Tax

HMRC

Tax Compliance