Tax

Case Reports

Image for millionaires call wealth taxes

Tax | Millionaires call for wealth taxes

Over 100 millionaires have called on governments worldwide to introduce permanent wealth taxes to reduce global inequality and raise revenue for countries to recover from the pandemic

19 Jan 2022

Personal Tax

Image for hmrc consults final rules uncertain tax treatment

Tax | HMRC consults on final rules for uncertain tax treatment

HMRC is running a brief consultation on the final plans for the rollout of new uncertain tax treatment rules for the largest businesses and has confirmed the penalty regime

19 Jan 2022

Tax Compliance

Image for high court throws out oil and gas tax case

Tax | High Court throws out oil and gas tax case

Environmental activists have lost their argument for a judicial review at the High Court over whether the UK’s tax breaks for the oil and gas sector represent unfair subsidies for the fossil fuel industry

18 Jan 2022

Case Reports

Image for hmrc returned ps835m overpaid tax pensions

Tax | HMRC returned £835m in overpaid tax on pensions

HMRC has repaid an estimated £835m in overpaid tax on flexible pension withdrawals over the last seven years

18 Jan 2022

Pensions

Tax | Q&A: P11D payrolling benefits

In this week’s Q&A, Samantha O’Sullivan, payroll adviser at Croner Taxwise, examines the pros and cons of payrolling benefits, any tax advantages and how to implement the system in-house

18 Jan 2022

Employment Tax

Tax Compliance

Image for hmrc increase use debt collection companies

Tax | HMRC to increase use of debt collection companies

The head of HMRC has told MPs that there are plans to increase its work with private sector debt collectors to tackle the UK’s current tax debt and improve its services in the long term

18 Jan 2022

Tax | Tax inquiries brought in £1.1bn last year

HMRC cash collection brought in £1.1bn from tax compliance investigations in the last quarter which is a 28% drop compared to the same time last year when £1.5bn was recovered

17 Jan 2022

Tax | Farmer loses £600k tax relief case

The court has ruled against a taxpayer who requested sideways tax relief of nearly £600,000 for the tax years where his farming businesses was not making a profit

17 Jan 2022

Case Reports

Image for call waiting time hmrc rises 13 minutes

Tax | Call waiting time for HMRC rises to 13 minutes

The latest HMRC performance figures reveal that taxpayers waited an average of 13 minutes to reach a tax official in November which is up from the 10 minutes reported the month previous

14 Jan 2022

Image for tax rebate companies take 48 cut claims

Tax | Tax rebate companies take 48% cut of claims

Tax rebate companies usually take a 25% to 48% cut of all the claims they make according to an investigation from Which

14 Jan 2022

Personal Tax

Image for tax loophole second homes closed

Tax | Tax loophole on second homes closed

Owners of second homes who report them as holiday lets will now have to prove it in order to not pay council tax and access business rates relief

14 Jan 2022

Property Tax

Image for top rate scottish taxpayers pay 60 income tax

Tax | Top rate Scottish taxpayers pay 60% of income tax

The amount of income tax raised from Scottish taxpayers is set to rise by £1m to £12bn for tax year 2020-21, up from £11.8bn, with higher and top rate earners paying more than half the total tax bill

14 Jan 2022

Personal Tax

Image for changes vat penalty regime delayed until 2023

Tax | Changes to VAT penalty regime delayed until 2023

The government has announced plans to delay the introduction of penalties for late submission of VAT returns

13 Jan 2022

VAT

Tax Compliance

Image for contractor trust cest ir35 accuracy falls

Tax | Contractor trust in CEST IR35 accuracy falls

Only 5% of contractors trust HMRC’s CEST tool to accurately decide their tax status and only 4% trusted HMRC to keep its promise to stand by the tool’s results

13 Jan 2022