Tax

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Tax | Tax consultations: February 2020

This month’s HMRC consultation focuses on IR35 draft legislation published with a four-week window for feedback from stakeholders despite being mid-way through a government review of the rules

3 Feb 2020

Tax

Consultations

Tax | Tax updates: February 2020

In this month’s round up of all the tax news, kickboxing company loses VAT case, Dixons loses bouncing cheque claim, TheWorks faces £350k VAT bill, and homeowners face seismic CGT shift

3 Feb 2020

Tax | NICs threshold increases by £104 from April

Changes to national insurance contributions (NICs) will see the threshold rise by 10% in the new tax year with a maximum tax cut of £104

31 Jan 2020

Tax | Tax data: CGT data, HMRC rates of interest - Feb 2020

Download the RPI index for December 2019, CGT indexation allowance, HMRC rates of interest, plus stamp duty rates for all parts of the UK

30 Jan 2020

Tax

Tax Compliance

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Tax | Portugal looks to curb tax breaks for foreigners

Portugal is set to curb its tax cuts for foreigners, with plans to end zero-tax regime for foreign pensioners and limit ‘golden visa’ residence scheme for wealthy investors

30 Jan 2020

Tax | Sports Direct part settles €674m Belgium VAT probe

Frasers Group, formerly known as Sports Direct International, says it has largely resolved a €674m (£571m) probe into its tax affairs after Belgian tax authorities cancelled most of the bill

30 Jan 2020

Tax

VAT

Tax Compliance

Image for employment allowance nic break targets small business

Tax | Employment allowance NIC break targets small business

From April, changes to the employment allowance will become de minimis state aid and HMRC has made the reporting rquirements less painful to encourage smaller businesses to use the tax break to reduce their NICs' bill

30 Jan 2020

Tax | Tax filing deadlines: Feb - Jun 2020

The key HMRC filing deadlines including payment of outstanding income and capital gains tax for 2018/19 personal tax returns and corporation tax fourth quarterly instalment payment

30 Jan 2020

Tax | Transact owner faces £4.3m VAT charge

IntegraFin Holdings plc (IHP), parent company of UK investment platform Transact, has been hit with an unexpected £4.3m VAT bill after HMRC challenged its inclusion of its Australian operations within its UK VAT group

29 Jan 2020

Tax | Making Tax Digital increases costs for businesses

Making Tax Digital is not reducing errors and is proving to be much more expensive to implement than HMRC originally claimed, according to a joint user survey by CIOT and ATT

29 Jan 2020

Tax | Time to pay tax arrangements go online

HMRC has modernised time to pay arrangements for taxpayers who are unable to pay their bills allowing them to renegotiate everything online rather than talking to HMRC

29 Jan 2020

Tax | Eligibility criteria for VAT group registration

Angela Bedi, tax writer at Croner-i examines VAT group eligibility for UK companies, related HMRC powers and the current position after recent decisions at the European Court of Justice (ECJ)

29 Jan 2020

Tax | Stride back in the chair at Treasury Committee

Mel Stride MP has been re-appointed chair of the Treasury Committee, following general election shake-up which means all committee chairs need to be re-elected

28 Jan 2020

Tax

Politics

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Tax | Q&A: penalties for late self assessment tax returns

In our regular Q&A series, Croner Taxwise tax advise consultant Roger Bradbury, explains HMRC’s position when a taxpayer misses the self assessment deadline and therefore falls foul of a late return penalty

28 Jan 2020

Tax | Multinationals pay £5bn as profit shifting tax rules bite

HMRC has raised over £5bn since the diverted profits tax and changes to transfer pricing rules came into force five years ago as global businesses change tax policy

27 Jan 2020

Tax | Non-resident UK companies to pay corporation tax on property income

From April 2020, non-UK resident companies will have to pay corporation tax on UK property income for the first time, with new rules for collective investment vehicles

27 Jan 2020