Tax

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Image for extended loss carry back rules explained

Tax | Extended loss carry back rules explained

As part of a range of measures to support businesses post-covid, the extended loss carry back rules provide a temporary tax break for businesses. Anna Walker, practice development manager at Onyx Accountants, explains

23 Sep 2021

Tax | Tax tribunals need significant improvement

The major cause of dissatisfaction with the UK tax chamber’s First Tier Tribunal (FTT) is the long delays in listing cases and issuing decisions, says the Institute for Fiscal Studies (IFS)

23 Sep 2021

Tax

HMRC

Business

Image for scottish budget scheduled 9 december

Tax | Scottish Budget scheduled for 9 December

Scotland has set the date of 9 December 2021 for the annual Scottish Budget to review spending for 2022-23 and the medium term financial strategy

23 Sep 2021

Tax

Budget

Image for hmrc consults property developer tax rules

Tax | HMRC consults on property developer tax rules

HMRC has launched a consultation on draft legislation for the residential property developer tax (RPDT), which is part of remediation for cladding removal, ahead of its inclusion in the Finance Bill

22 Sep 2021

Tax

Property Tax

HMRC

Image for over 55s risk exceeding drawdown pension allowance

Tax | Over 55s risk exceeding drawdown pension allowance

The very low limit on the money purchase annual allowance (MPAA) means that many pension savers are at risk of receiving unwanted tax bills by overpaying into their pensions, warns Aegon

22 Sep 2021

Tax | Income tax for internationally mobile employees - special arrangements - part 2

Martin Jackson, employment tax writer at Croner-i, gives an overview of the special tax arrangements that employers may enter into with HMRC, to help reduce compliance issues when dealing with internationally mobile employees

22 Sep 2021

Tax | HMRC clarifies rules on VAT One Stop Shop returns

HMRC has issued detailed guidance on EU VAT payments and compliance with the One Stop Shop (OSS) returns process, which comes into effect from 1 October

21 Sep 2021

Tax

VAT

Tax Compliance

Image for tax take increases ps847bn pandemic recedes

Tax | Tax take increases £84.7bn as pandemic recedes

Between April and August 2021 HMRC collected £280.4bn worth of tax which is £84.7bn more than this period last year as the economy began to recover post pandemic

21 Sep 2021

Tax | Q&A: reduced rate of VAT set to change

In our regular Q&A series, Croner Taxwise VAT adviser Tony Chamberlain reviews changes to the temporary reduced rate of VAT for supplies of catering, holiday accommodation and admissions to attractions from 1 October

21 Sep 2021

Tax | Court rules property loan was liable for £18k tax

The Court has found that a company’s payment to its sole owner of profits made on a property sale was not deductible as a loan and was liable for £18k tax

21 Sep 2021

Tax | Is a wealth tax the way to pay for the pandemic?

Harriet Murray, senior associate at Hunters Law, questions whether a one-off wealth tax would be effective or simply lead to more complex tax planning

20 Sep 2021

Tax

Personal Tax

Image for expat landlords miss tax payments buy let property

Tax | Expat landlords miss tax payments on buy-to-let property

UK expats who own a buy-to-let property in the UK are continuing to approach HMRC to admit they have evaded tax, says UHY Hacker Young

20 Sep 2021

Tax | HMRC sends ‘nudge’ letters to non-doms over unpaid tax

HMRC is targeting wealthy non-domiciled individuals by sending ‘nudge’ letters to those who may not have failed to declare and pay the annual remittance basis charge

20 Sep 2021

Tax

Business Tax

HMRC

Image for professional referees lose ps584k ir35 case

Tax | Professional referees lose £584k in IR35 case

The court has ruled in favour of HMRC finding that the lower courts had ‘erred’ in their judgment allowing HMRC to pursue £584,000 in back taxes in the PGMOL IR35 case

20 Sep 2021

Tax | HMRC gives General Electric £82m tax deal

Members of the All-Party Parliamentary Group on anti-corruption and responsible taxes has criticised HMRC after it agreed an £82m settlement with General Electric over a disputed $1bn (£725m) tax bill

17 Sep 2021