Tax

Latest news

Image for qa changes rules movement goods

Tax | Q&A: changes to the rules for movement of goods

In our regular Q&A series, Croner Taxwise, VAT adviser, Tony Chamberlain, explains how the impending changes to the rules concerning movement of goods across the EU will affect UK businesses

10 Nov 2020

Tax | HMRC to act over insurance premium ‘value shifting’

HMRC is consulting on proposals intended to improve the operation of insurance premium tax (IPT), making it easier for both the industry and HMRC to administer, and addressing certain types of avoidance and evasion

10 Nov 2020

Tax | Covid-19 hits HMRC customer response levels

Covid-19 restrictions and HMRC’s leading role in the launch of a slew of government support schemes have hit HRMC’s customer service levels and are having an impact on the amount of tax collected, latest statistics reveal

9 Nov 2020

Tax | Airbnb hosts must act now to avoid HMRC probe

As the online short-term rental giant passes its user data to the tax authority, RSM’s Sarah Saunders says amateur renters should have nothing to fear if they use reliefs and follow the rules carefully

9 Nov 2020

Tax | £5m funding for organisations to help people with tax affairs

HMRC has secured £4.98m funding for 2021-2024, equating to £1.66m per year, to allocate to voluntary and community sector organisations to help them support taxpayers comply with tax obligations and claiming their entitlements

5 Nov 2020

Tax | Oman mulls introducing income tax

Oman is set to introduce an income tax on high earners in 2022, the first of the Gulf states to make such a move

5 Nov 2020

Tax | Brexit and VAT pt2: tour operators, online sales and overseas marketplaces

In the second of a two-part series, Croner-i tax writer Sarah Kay looks at some of the less well publicised VAT consequences of the UK leaving the EU on 31 December 2020, including the tour operators margin scheme, online sales and overseas marketplaces

5 Nov 2020

Tax | VAT error correction - CPD module – NEW

This month's exclusive Accountancy Daily CPD module explains in depth the two ways in which the under or overpayment of VAT should be corrected, as well as how to properly notify HMRC

2 Nov 2020

Tax | VAT updates: October 2020

In this month’s round up of VAT cases, Graham Elliott considers VAT on imports after 1 January 2021, the end of the retail export scheme, undisclosed partnerships, roof insulation and Covid-19 payment holidays

2 Nov 2020

Tax | Trusts tax take up by 7% to reach £3bn mark

HMRC’s annual statistics show that while the number of trusts and estates continues to fall, their income has increased, and the total tax bill is up by 7%

2 Nov 2020

Tax | HMRC changes VAT policy for private baby scans

HMRC has published a brief on changes to the VAT treatment of ultrasound scanning services for pregnant women following the decision of a First Tier Tribunal (FTT)

30 Oct 2020

Tax | Businesses warned on drop in annual investment allowance

Businesses considering the purchase of capital equipment need to think quickly or risk missing out on significant amounts of tax relief over the next few years, the Association of Taxation Technicians (ATT) is warning

29 Oct 2020

Tax | Brexit and VAT pt1: mini one stop shops, tourism and VAT refunds

In the first of a two-part series, Croner-i writer Sarah Kay reviews a number of the less well publicised Brexit consequences for UK businesses trading in the EU, including the impact of mini one stop shops, tax free shopping for tourists and EU VAT refunds

29 Oct 2020

Tax | Property developer ‘plays a blinder’ on VAT claim

HMRC looks set to change its guidance after a property developer won a case at a First Tier tribunal (FTT) challenging the VAT rating for window blinds installed in new homes

28 Oct 2020

Tax | HMRC: 95 days left to self assess

HMRC is reminding self assessment taxpayers that there are just 95 days left to complete their tax return ahead of the deadline on 31 January 2021

28 Oct 2020

Tax | Call for changes to ‘inflexible’ business rates

A third of companies say they need government support to survive the next six months, with a similar proportion expecting to make redundancies according to ICAEW, which is calling for changes to business rates and targeted help to limit the economic damage of Covid-19

27 Oct 2020