Tax

Image for cpd module making tax digital income tax

Tax | CPD module: Making Tax Digital for Income Tax

In this month's exclusive Accountancy Daily CPD module, we look into Making Tax Digital (MTD) for income tax self Assessment (ITSA) focusing on the changes and how to prepare for the next phase of MTD for ITSA once it goes live

5 Jan 2022

Business Tax

Tax | VAT updates: January 2022

In this month’s VAT updates, Graham Elliott examines key VAT rulings in Mandarin case over evidence for place of supply, supplementary claims at Cambria Automobiles et al and VAT exemption for religious retreat fails

4 Jan 2022

VAT

Case Reports

Image for 31k tax returns filed over christmas

Tax | 31k tax returns filed over Christmas

Between Christmas Eve and Boxing Day HMRC saw 31,271 self-assessment tax returns for 2020-21 submitted

4 Jan 2022

Personal Tax

Image for court writes ps54k penalties due tax ignorance

Tax | Court writes off £54k in penalties due to ‘tax ignorance’

The Court upholds HMRC’s decision to issue a tax notice of £90,393 to a company but downgraded the £61,163 penalties as it was ‘careless’ and not deliberate

4 Jan 2022

Business Tax

Case Reports

Image for hmrc fraud squad recovers ps1bn tax evaders

Tax | HMRC fraud squad recovers £1bn from tax evaders

HMRC's Fraud Investigation Service has recovered more than £1bn from the proceeds of crime and tax offenders since the formation of a specialist fraud squad five years ago

4 Jan 2022

Tax | Taxpayer loses appeal over £2m VAT claim

The court has rejected an appeal against HMRC’s decision to deny input tax deductions of £2m on purchases as they were connected to VAT evasion

23 Dec 2021

Business Tax

Case Reports

Image for hmrc suspend some webchat services

Tax | HMRC to suspend some webchat services

HMRC is putting on hold most of its webchat services for three months from Tuesday 4 January 2022

23 Dec 2021

Image for ministry justice faces ps72m ir35 tax bill

Tax | Ministry of Justice faces £72m IR35 tax bill

In the ongoing saga over IR35 in the public sector, two more government departments are facing multimillion pound tax bills for non-compliance

22 Dec 2021

Employment Tax

Image for hmrc targets ps22bn tax shortfall banks

Tax | HMRC targets £2.2bn tax shortfall from banks

Large banks face a potential £2.2bn tax liability over disputed taxes, according to figures obtained by a Freedom of Information (FOI) request by DLA Piper, the global law firm

22 Dec 2021

Tax | Businesses need to prepare for January EU customs changes

Some of the temporary customs and VAT easements introduced on 1 January 2021 for goods moving between Great Britain and the EU will be removed on 1 January 2022

22 Dec 2021

Tax | £1bn support package for businesses hit by omicron

The Chancellor has announced a £1bn support package including grants for the hospitality sector and a sick pay rebate scheme as omicron variant spreads

21 Dec 2021

Tax | HMRC raises late payment interest rate to 2.75%

Following the increase in the base rate announced by the Bank of England last week, HMRC has confirmed changes to payment interest rates are due to come into force

21 Dec 2021

Tax | HMRC saves 400-year-old documents for National Archives

Over 300 historic documents, dating from 1612 all the way to 1950, will be transferred from HMRC to the National Archives including early property tax records

21 Dec 2021

Image for qa principal private residence relief ppr new build house

Tax | Q&A: principal private residence relief (PPR) on a new build house

In our regular Q&A series, Croner Taxwise tax adviser Kabita Tank considers the tax rules relating to principal private residence relief (PPR) when building a new house

21 Dec 2021

Property Tax