Tax

Property Tax

Image for bookkeeper jailed ps21m vat fraud

Tax | Bookkeeper jailed for £2.1m VAT fraud

A Croydon fraudster who funded a jetset lifestyle with fraudulent VAT repayment claims has been sentenced to seven years in prison

8 Jul 2021

Image for upper tribunal denies multimillion pound lrr tax relief claim

Tax | Upper Tribunal denies multimillion pound LRR tax relief claim

The Upper Tribunal has ruled against Northern Gas Networks judging that the removal or improvement of iron pipes was not qualifying expenditure for a land remediation tax relief claim (LRR), estimated to be worth a minimum of £17m

8 Jul 2021

Tax | Director sentenced over £3.3m fraudulent VAT reclaim

A company director has been sentenced to eight months’ imprisonment, suspended for 12 months, and has been disqualified as a director for four years over a £3.3m fraudulent VAT reclaim

7 Jul 2021

Restructuring & Insolvency

Image for taxi drivers face tax conditionality test renew licence

Tax | Taxi drivers face tax conditionality test to renew licence

The government is clamping down on tax avoidance by taxi drivers and scrap metal dealers by requiring a tax conditionality test to prove they pay taxes before licences are issued

7 Jul 2021

Personal Tax

Tax Compliance

Image for tax and residential lease extensions

Tax | Tax and residential lease extensions

Mark Cawthron LLB CTA examines the tax implications of residential lease extensions and the changes to the tax reporting and payment rules for disposals of UK residential property

7 Jul 2021

Tax | Drivers support VAT cut for electric cars

Two thirds of drivers say that scrapping VAT from the purchase price would be the most influential policy to help drivers buy an electric vehicle, finds a survey by motoring organisation AA

6 Jul 2021

Personal Tax

Image for icas calls improvements hmrc service levels

Tax | ICAS calls for improvements to HMRC service levels

Overly complex tax rules and poor service standards need to be addressed to build taxpayer confidence in the tax system, warns ICAS

6 Jul 2021

Tax | Upper Tribunal rules in favour of taxpayer in HICBC case

The Upper Tribunal ruled against HMRC deciding that where a taxpayer had not submitted self assessment tax returns, discovery assessments could not be used to assess the taxpayer’s liability to the high income child benefit charge

6 Jul 2021

Tax | Q&A: VAT and the EU Import One Stop Shop (IOSS)

In our regular Q&A series, Croner Taxwise VAT advisor Arti Sonpal explains the compliance issues for exporters including the EU’s Import One Stop Shop (IOSS) scheme

6 Jul 2021

Tax Compliance

Image for ots recommends banks share client data hmrc

Tax | OTS recommends banks share client data with HMRC

The Office of Tax Simplification (OTS) is recommending that financial institutions should start sharing client information such as account interest with HMRC to speed up the data population process for the new single customer account

6 Jul 2021

Personal Tax

Image for supreme court quashes ps86m follower notice

Tax | Supreme Court quashes £8.6m follower notice

The Supreme Court has ruled against HMRC and confirmed the Court of Appeal’s decision to throw out a ‘draconian’ follower notice issued for £8.6m by the tax authority

5 Jul 2021

Tax | Recent tax changes UK property investors need to know about

A number of changes to tax rules have added to compliance requirements for property owners and increased tax bills. Andrew Hoban, partner at Allsop, explains

5 Jul 2021

Property Tax

Tax Compliance

Image for income tax bill uk taxpayers doubles two decades

Tax | Income tax bill for UK taxpayers doubles in two decades

Annual income tax paid by the British public has doubled over the last 20 years paying £93bn in 1999 to 2000 rising to £187bn in 2018 to 2019

2 Jul 2021

Tax | Restaurateurs banned over £500k tax bill

Three restaurateur brothers have been banned after under-reporting their restaurant’s earnings, building up a tax bill of over £500,000

2 Jul 2021

Business Tax

Restructuring & Insolvency

Image for 130 countries set minimum rate 15 corporation tax

Tax | 130 countries set a minimum rate of 15% for corporation tax

130 countries from across the world have agreed to accept a global minimum corporation tax rate of 15% to draw a line under tax avoidance by multinational companies

2 Jul 2021