Tax

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Image for scottish income tax catches out higher rate taxpayers

Tax | Scottish income tax catches out higher rate taxpayers

Pension saving may soften triple whammy for higher rate Scottish taxpayers with salary sacrifice reducing tax liability while higher pension contributions can offset higher rate child benefit clawback, explains Kay Ingram, director of public policy at LEBC Group

7 Jan 2019

Image for millennials pick income tax burden elderly

Tax | Millennials pick up income tax burden from elderly

Research by Moore Stephens shows that the tax burden on the older generation has fallen by 4% in the past year, with millennials paying an extra £5bn compared to the same period in the previous year

7 Jan 2019

Image for upper tribunal rejects qc tax penalty appeal

Tax | Upper Tribunal rejects QC tax penalty appeal

The Upper Tribunal has dismissed an appeal against HMRC by a QC over penalty notices, with implications for self-employed workers facing cash flow difficulties and outstanding tax liabilities

7 Jan 2019

Law and Regulation

Image for hmrc turns universities digital expertise

Tax | HMRC turns to universities for digital expertise

With the introduction of Making Tax Digital for VAT only three months away, HMRC is looking to recruit tax specialists with digital skills, along with data analysts and digital experts

4 Jan 2019

Making Tax Digital

Image for commercial property brought non resident cgt charge

Tax | Commercial property brought into non resident CGT charge

HMRC has issued draft guidance for the extension of the non resident capital gains tax rules bringing commercial property and company disposals into scope for the first time from April 2019

4 Jan 2019

Law and Regulation

Image for us government shutdown freezes irs services

Tax | US government shutdown freezes IRS services

Taxpayers face delays and the Internal Revenue Service (IRS) has suspended all non-essential work as the US government shutdown over a political funding dispute overlaps with the beginning of the tax filing season

4 Jan 2019

International Tax

Image for reforming wealth tax will raise revenue

Tax | Reforming wealth tax will raise revenue

An ageing population and rising public service costs are putting a strain on the Treasury’s coffers. Torsten Bell and Adam Corlett of the Resolution Foundation argue that the Chancellor could generate £7bn a year by 2022-23 with adjustments to five wealth taxes and subsidies

4 Jan 2019

Image for hmrc issues updated dpt guidance

Tax | HMRC issues updated DPT guidance

HMRC has issued updated guidance on diverted profits tax (DPT) to reflect changes to the length of the review period, and provides further information about failure to notify penalties, the first time that the document has been updated since 2015

3 Jan 2019

Law and Regulation

Image for ps850m tax relief paid out film and tv producers

Tax | £850m tax relief paid out to film and TV producers

Government figures show that the amount in tax relief offered to the creative sector rose significantly, with nearly 300 UK films and TV shows choosing to benefit in 2018 from the cost reduction it offers

3 Jan 2019

Image for one month countdown 55m outstanding tax returns

Tax | One-month countdown for 5.5m outstanding tax returns

Around 5,542,000 taxpayers have less than a month to complete their self assessment tax returns before the 31 January deadline

3 Jan 2019

Image for iceland threatened ps21m tax bill

Tax | Iceland threatened with £21m tax bill

The UK supermarket chain Iceland Foods faces a £21m bill over a voluntary Christmas savings scheme that allowed workers to set aside part of their earnings, which HMRC believes breached minimum wage legislation

2 Jan 2019

Law and Regulation

Image for qatar introduces 100 tax alcohol ahead 2022 world cup

Tax | Qatar introduces 100% tax on alcohol ahead of 2022 World Cup

Alcohol prices have soared in Qatar after the country introduced a 100% sin tax as part of its levy on ‘health-damaging’ goods, with a price of a 24-pack of beer rising to £82 three years ahead of the World Cup

2 Jan 2019

International Tax

Image for calls pudding tax cut childrens sugar consumption

Tax | Calls for pudding tax to cut children’s sugar consumption

Health officials are calling for the introduction of a pudding tax covering cakes, biscuits, sweets and other treats high in sugar as figures reveal that children in the UK exceed the maximum recommended sugar intake for an 18-year-old by the time they are 10

2 Jan 2019

Tax | Tax updates: January 2019

This month's review of tax cases, including a dismissed R&D allowance appeal in a partnership, an upheld surcharge for unauthorised payments in McCashin, and a gifted property sub-lease subject to inheritance tax in The Estate of Lady Hood

2 Jan 2019

Image for vat updates january 2019

Tax | VAT updates: January 2019

Graham Elliott CTA (Fellow), director at City and Cambridge Consultancy, examines a selection of VAT cases from VAT and hire purchase on secondary sale of cars in VW Financial Services, input VAT evidence in XipVit and retail vouchers under scrutiny

2 Jan 2019

Law and Regulation

Image for employment tax updates january 2019

Tax | Employment tax updates: January 2019

In our monthly roundup of employment tax developments, Jackie Hall, partner at RSM discusses the impact of entrepreneur’s relief on employee share schemes and the uncertainty caused by the lack of a timeframe for the government’s Good Work plan

2 Jan 2019

Law and Regulation

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