Tax

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Image for government waters down loan charge rules

Tax | Government waters down loan charge rules

The government has backed down on original time frame for loan charge compliance giving taxpayers who signed up to schemes approved by HMRC before 2015 greater leniency and offering five-year time to pay arrangements

21 Jan 2020

Tax | Q&A: nil rate band and inheritance tax

In our regular Q&A series from Croner Taxwise, tax advice consultant, Kiya Jacobs explains how the nil rate band works under inheritance tax rules when children inherit the main residence

21 Jan 2020

Tax | HMRC enquiries: do not assume all requests are justified

During a tax investigation, HMRC will make requests for information, but it must do so within a set timeframe and be justified, fair and reasonable. Withers tax director Jeff Millington explains the rights of taxpayers, discovery powers and time limits

21 Jan 2020

Tax | Shih Tzu ‘guard dog’ goes hungry after failed expense claim

Every year, HMRC receives imaginative excuses and expense claims following the 31 January self assessment deadline from out of control guard dogs to a DJ too busy to fill in his form

20 Jan 2020

Tax | Flybe confirms time to pay arrangement over £10m APD tax arrears

Flybe has rejected claims that it owed HMRC over a £100m in airline passenger duty (APD) arrears, stating that the unpaid tax is closer to £10m

17 Jan 2020

Tax | HMRC crackdown on footballers using tax schemes

Miles Dean, head of international tax at Andersen Tax, examines whether it was foreseeable that HMRC and the courts would end up not only attacking tax avoidance schemes (and winning), but also shutting down an industry that had gone out of control?

17 Jan 2020

Tax | Tax transparency essential to tackle $600bn avoidance bill

Businesses need to provide more transparent reporting on tax to give shareholders and the public a better understanding of their tax policy and wider contribution to society

17 Jan 2020

Tax | Self assessment: what expenses can you claim when self-employed?

It is important to distinguish between business and personal expenses when completing annual self assessment tax returns. David Redfern, managing director of DSR Tax Claims, explains the categories of business expenses self-employed workers can use to offset tax liabilities

17 Jan 2020

Tax | Self assessment deadline looms

Around five million taxpayers are yet to file their tax returns before the 31 January deadline

17 Jan 2020

Tax | Global anti-money laundering fines top £6bn

A record number of anti-money laundering (AML) penalties were handed down worldwide last year, totalling over $8bn (£6.2bn), with the US authorities taking the lead, imposing twice as many fines as UK regulators

17 Jan 2020

Tax | HMRC to support taskforce on waste crime

HMRC has signed up to a new government taskforce dedicated to tackling serious and organised waste crime, such as dumping hazardous materials on private land and falsely labelling waste so it can be exported abroad to unsuspecting countries

16 Jan 2020

Tax

HMRC

Tax Compliance

Image for maturing child trust funds will retain tax free status

Tax | Maturing child trust funds will retain tax free status

Holders of child trust fund accounts will be able to transfer their funds tax free when they start maturing in September, marking the scheme reaching 18 years

16 Jan 2020

Tax | Flybe saved by deferral of £106m flight tax bill

The government has caved into pressure from regional UK airline carrier, Flybe, which was flying in the face of potential administration, delaying payment on a £100m plus tax bill for airline passenger duty

15 Jan 2020

Restructuring & Insolvency

Image for non doms invest record ps1bn using tax break

Tax | Non-doms invest record £1bn using tax break

Non-domiciled individuals are putting record amounts into a government tax break designed to encourage investment in UK businesses

15 Jan 2020

Tax | Tips for taxpayers: Making Tax Digital for VAT

Nine months since the launch of Making Tax Digital (MTD) for VAT, late adopters have only filed once under the new system, some not even using accounting software due to the soft landing penalties regime. Philip McNeill and Dr Sarah McNeill explain the key compliance issues

15 Jan 2020

Tax | Kickboxing company loses VAT dispute

Kickboxing company Premier Family Martial Arts LLP has lost a VAT dispute with HMRC, as they tried to appeal that kickboxing should be exempt from VAT because it is a form of tuition, covering a subject that is part of school education

14 Jan 2020