Tax

Latest news

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Tax | CIOT calls for reform of VAT repayment rules

The Chartered Institute of Taxation (CIOT) has welcomed the government’s decision to amend the Finance Bill but still calls for a wider rethink of plans to end the VAT repayment supplement, claiming it could be devastating for some businesses

7 May 2021

Tax

VAT

Tax Compliance

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Tax | Gary Lineker faces £4.9m tax battle with HMRC

In a long-running IR35 dispute, HMRC claims the TV presenter and former England footballer Gary Lineker owes £4.9m in income tax and national insurance contributions (NICs)

7 May 2021

Tax

Personal Tax

Case Reports

Image for hmrc clarifies nics payment rules directors

Tax | HMRC clarifies NICs payment rules for directors

HMRC has updated the guidance on how to work out national insurance contribution (NIC) payments for directors

7 May 2021

Tax

Personal Tax

Tax Compliance

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Tax | Government fails to tackle global tax avoidance

Less than a third of people trust Boris Johnson and Rishi Sunak to crack down on global tax avoidance despite government pledges

7 May 2021

Tax

International Tax

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Tax | Five reasons to set up a Personal Tax Account

The Association of Taxation Technicians (ATT) is encouraging taxpayers to set up a Personal Tax Account (PTA) to monitor their tax affairs

6 May 2021

Tax

Personal Tax

HMRC

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Tax | Super deduction capital allowance - take it to the limit

Peter Rayney reviews the new 130% super deduction capital allowance rules introduced in the Budget 2021 explaining the potential complexities in applying them

6 May 2021

Tax | US tax court hands victory to Michael Jackson estate

A US tax court has handed victory to the estate of Michael Jackson finding that the Internal Revenue Service (IRS) wildly inflated the value of the singer’s assets and image at the time of his death leading to an estate tax bill for his heirs that was far too high

5 May 2021

Tax

Case Reports

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Tax | Off-payroll working in the private sector - CPD module

In this month's exclusive Accountancy Daily CPD module, we look at the implications of the off-payroll working regulations for contractors in the private sector, with useful compliance tips and advice

5 May 2021

Tax | Filing deadlines: May to June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from cut-off for employers to give 2020/21 P60 forms to each employee who was working for them at 5 April 2021 and deadline for opting into the VAT deferral new payment scheme

5 May 2021

Tax | Record Amazon sales but no corporation tax paid

Amazon’s latest corporate filings in Luxembourg revealed that the company made record sales of €44bn (£38bn) in Europe in 2020 but because the Luxembourg unit made a €1.2bn loss it meant that it did not have to pay corporation tax

4 May 2021

Tax

International Tax

Tax Planning

Tax | VAT updates: May 2021

In this month’s round-up of key VAT decisions, Graham Elliott assesses the tribunal rulings in Northumbria Health Care NHS Trust, Step by Step and Balhousie

4 May 2021

Tax

VAT

Case Reports

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Tax | Q&A: ATED and tax compliance on new dwellings

In our weekly Q&A, Vivienne Cheung, tax adviser at Croner Taxwise, examines whether the annual tax on enveloped dwellings (ATED) on high value residential properties is payable

4 May 2021

Tax

Property Tax

Tax Compliance

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Tax | House prices show biggest rise for 17 years

Annual house price growth rebounded to 7.1% in April, from 5.7% in March, marking the biggest rise for 17 years, according to the latest Nationwide price index, as stamp duty holiday stimulates sales

30 Apr 2021

Tax

Property Tax

Image for hmrc has stopped hiring users disguised remuneration schemes

Tax | HMRC has stopped hiring users of disguised remuneration schemes

Following requests for clarification on HMRC’s use of contractors signed up to disguised remuneration schemes, the head of the tax authority has written to MPs confirming that it no longer hires this type of contractor

30 Apr 2021

Tax

Personal Tax

HMRC

Image for treasury consults plans residential property developer tax

Tax | Treasury consults on plans for residential property developer tax

The Treasury has released a consultation on plans to introduce a residential property developer tax on certain profits from residential development activity, designed to raise £2bn

30 Apr 2021

Tax

Business Tax

Consultations

Image for hmrc sets out penalty regime seiss abuse

Tax | HMRC sets out penalty regime for SEISS abuse

As the fourth self employment income support scheme (SEISS) ramps up for applications, HMRC has confirmed the penalty regime with harsh fines for abuse of the financial support

30 Apr 2021