Tax

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Image for qa vat lease terminations and property dilapidations

Tax | Q&A: VAT on lease terminations and property dilapidations

In this week’s Q&A, Croner Taxwise VAT adviser Tony Chamberlain, considers the treatment of VAT on lease terminations and property dilapidations in commercial buildings

15 Feb 2022

Tax

VAT

Tax Compliance

Image for accountant loses ps297k tax relief case

Tax | Accountant loses £297k tax relief case

An accountant’s claim for input tax and VAT relief of £240,842.78 has been rejected as his luxury leisure complex was ruled not ‘business expenditure’

14 Feb 2022

Tax | Determining the tax residence of individuals

Residency is an important factor when deciding which jurisdiction the taxpayer should pay tax in and rules vary between countries. Guillermo Narvaez, tax partner and technical director, Kreston Global Tax Group, considers the tax traps

14 Feb 2022

Tax | Plans for two freeports for Scotland

A partnership agreement to establish two green freeports in Scotland has been reached between Scottish and UK ministers with plans to come online in 2023

14 Feb 2022

Tax

Business Tax

Tax Planning

Image for hmrc seizes nft first time ps14m fraud case

Tax | HMRC seizes NFT for first time in £1.4m fraud case

HMRC has seized three non-fungible tokens (NFTs) and arrested three people as part of an investigation into a £1.4m tax evasion fraud

14 Feb 2022

Tax

VAT

HMRC

Image for tax tips couples valentines day

Tax | Tax tips for couples this Valentine’s Day

On top of the usual Valentine’s Day treats of chocolate and flowers, tax and advisory firm Blick Rothenberg highlights the tax gifts that you can give to your partner this year

14 Feb 2022

Tax

HMRC

Image for accountant blamed taxpayer loses ps308k tax appeal

Tax | Accountant blamed as taxpayer loses £308k tax appeal

A taxpayer’s appeal against a £308,798 tax assessment was rejected after the court ruled that the taxpayer’s accountant had acted carelessly when implementing a tax avoidance scheme

11 Feb 2022

Tax

Personal Tax

Case Reports

Image for hmrc slated lack ambition recover ps4bn furlough fraud

Tax | HMRC slated for ‘lack of ambition’ to recover £4bn furlough fraud

HMRC has been criticised for its lack of ambition in tackling covid fraud related to the furlough and self employed support schemes as £4bn is unlikely to be recovered

11 Feb 2022

Tax | HMRC call waiting time drops to nine minutes

The average waiting time for HMRC’s call line hit nine minutes in December 2021 which is an improvement of four minutes from the 13 minutes recorded in November

10 Feb 2022

Tax

HMRC

Tax | HMRC needs to improve CEST tool to reduce risks of IR35 reform

The size and complexity of the private sector means that the extension of off-payroll rules to the private sector makes compliance a problem for HMRC, warns NAO

10 Feb 2022

Tax | Lords slam rise in use of umbrella companies to avoid tax

The government's extension of off-payroll working rules to the private sector in April 2021 has resulted in an increased use of umbrella companies, Lords warn

10 Feb 2022

Tax | Landlords and the 60-day CGT pay and file regime

Budget changes to the deadline for paying capital gains tax on residential property sales means that there is now a 60-day window for payments. Tim Palmer, CTA ATT, explains the intricacies of the system

9 Feb 2022

Tax | Tax reporting should take into account ESG

Businesses need to start looking at tax reporting from an environmental, social, governance (ESG) perspective to build trust and prove commitment to sustainability and social responsibility, says PwC

9 Feb 2022

Tax

Tax Compliance

Tax Planning

Image for taxpayer loses claim over ps164k vat assessment

Tax | Taxpayer loses claim over £164k VAT assessment

The Court of Appeal has thrown out an appeal from a taxpayer against a VAT assessment of £164,932 ruling that they did not comply with requirements or even have the correct records to prove its claims

9 Feb 2022

Tax

VAT

Case Reports