Tax

Latest news

Tax | The sale of a horse for VAT

Julie Butler FCA considers the VAT implications when selling a racehorse from shared ownership to applying the business economic activity test, particularly in light of the McMorris case

15 Aug 2019

Tax | Retailers demand fix to ‘broken’ business rates

The government is under pressure to take action on business rates, with over 50 major retailers supporting recommendations designed to fix what they describe as ‘the broken business rates system’

15 Aug 2019

Tax | HMRC wins £15m Hargreaves Lansdown loyalty bonus case

HMRC has successfully overturned a ruling on the tax status of ‘loyalty bonus’ rebates made by fund management platform Hargreaves Lansdown, with the result that over 150,000 investors are no longer in line for a £15m repayment windfall

14 Aug 2019

Tax | Government under pressure to launch loan charge review

MPs and contractors are intensifying pressure on the Chancellor to review the loan charge which has seen contractors paying retrospective tax bills on remuneration schemes which were outside PAYE, some dating back 20 years

14 Aug 2019

Tax | VAT Q&A: place of supply rules for intermediary services

In our regular Q&A series, Croner Taxwise VAT adviser Priyesh Mistry explains the VAT rules for third parties and whether VAT is charged at the standard rate when invoicing services from a non-UK based supplier

13 Aug 2019

Tax | Brexit pressure forces one-year spending review

There will be a fast-tracked one-year spending review to ensure departments can focus on delivering Brexit by 31 October, the Chancellor has confirmed, as the normal three-year spending review is delayed

12 Aug 2019

Tax | MTD for VAT trips up monthly taxpayers

Nearly 4,000 businesses who pay VAT monthly have missed the monthly Making Tax Digital VAT filing deadlines since April

12 Aug 2019

Tax | UK continues to refuse to cut VAT on e-books

The UK continues to charge VAT on e-books, audio books and online newspapers despite changes to EU VAT rules introduced last year and since adopted by a growing number of member states

9 Aug 2019

Tax | HMRC will not send out confirmation emails for MTD VAT returns

HMRC has issued a last-minute update to its guidance stating that it will not be sending out confirmation emails on receipt of Making Tax Digital for VAT submissions

8 Aug 2019

Tax | Tax take from non-doms falls to near record low

The amount of tax paid by non-domiciled individuals has fallen dramatically since last year, clocking in at £7.54bn, down from a record high of £9.49bn last year

8 Aug 2019

Tax | UK digital tech businesses want tax streamlined

The UK’s digital tech businesses are positive about tax compliance but struggle with the complexity of some requirements, notably VAT and employment taxes, according to HMRC research

8 Aug 2019

Tax | Post-Brexit trade policy will introduce UK freeports

The government is looking at setting up a string of freeports around the UK providing duty-free trade zones with tax and customs duty advantages

8 Aug 2019

Tax | Nunn: tax breaks may speed up adoption of electric cars

As tax on company cars escalates, Yvette Nunn asks whether there will be a revival of interest in the benefit when the government removes company car tax from lower emission vehicles in 2020

8 Aug 2019

Tax | Government gives £1.1bn tax relief to film, TV and creative industries

A total of £1.1bn was paid out in creative industries tax reliefs in 2018-19, a 22% increase on the previous year’s figure of £900m

7 Aug 2019

Tax | DHSC consults on remedy for NHS pension ‘tax trap’

The Department of Health and Social Care (DHSC) is to consult on proposals giving full flexibility over the amount senior clinicians put into their pension pots, to stem the rising numbers of doctors cutting their hours and leaving the NHS because of tax issues

7 Aug 2019

Tax | FTSE 100 has £4.5bn at risk in tax disputes

FTSE 100 companies have up to £4.5bn at risk from tax disputes, most commonly arising from changes in legislation in emerging markets, according to research by Thomson Reuters

7 Aug 2019