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Tax | HMRC writes to taxpayers about Welsh rates of income tax

With four months to go, HMRC has written to two million individuals in Wales ahead of the introduction of the new Welsh rates of income tax (WRIT), outlining residency and compliance issues

28 Nov 2018

Tax | Dodwell: sounds like an online tax for multinationals

Bill Dodwell, senior policy adviser at the Office of Tax Simplification (OTS), examines the controversial digital services tax on giant online multinationals and considers what tax other countries will introduce as a result

28 Nov 2018

Tax | 10 things charities need to know about Gift Aid

Helen Elliott, partner at Sayer Vincent, looks at the 10 most important things about Gift Aid for charities to keep in mind, including the restrictions on who is eligible to use and what kinds of benefits are excluded

28 Nov 2018

Tax | UK agrees customs arrangements with crown dependencies

The UK has signed a series of arrangements with the crown dependencies to maintain and reaffirm its close customs relationships, which will come into force when they and the UK leave the EU customs union

27 Nov 2018

Tax | Q&A: existing VAT numbers in the flat rate scheme

Vivienne Scott, senior VAT consultant at Croner Taxwise, discusses how to determine the anniversary of a business which joined the flat rate scheme and, on becoming a new incorporated entity, assumed the pre-existing VAT number

27 Nov 2018

Tax | Appeal sees HMRC penalties knocked down to size

The First Tier Tribunal (FTT) has ruled that HMRC’s interpretation of legislation when calculating the penalty for a late self-assessment return was incorrect, reducing a contested £3,200 penalty to £600 in the case of a former taxi driver

26 Nov 2018

Tax | HMRC penalties for CFOs under SAO regime rise

HMRC is issuing significant numbers of personal penalties to senior financial executives at big businesses under the senior accounting officer (SAO) regime

26 Nov 2018

Tax | Leading institutes back Lords call for MTD delay

A recommendation by a Lords committee that the government’s introduction of mandatory Making Tax Digital (MTD) for VAT should be delayed by at least one year is supported by the Low Incomes Tax Reform Group (LITRG), CIOT and the ICAEW

23 Nov 2018

Tax | Call to modernise inheritance tax collection

Too many people have to fill in inheritance tax (IHT) forms, and the process is complex and old fashioned according to the Office of Tax Simplification (OTS), which says HMRC should revise all of its guidance and look to improve the experiences of those dealing with the tax

23 Nov 2018

Tax | First-time buyers relief costs £426m a year

On the one-year anniversary of first time buyers relief (FTBR), HMRC statistics show more than 180,500 first time buyers have benefited from the cut in stamp duty land tax (SDLT), although receipts overall were 9% lower in the past three months compared with last year

22 Nov 2018

Tax | 30 months to build Brexit IT systems, HMRC tells committee

Appearing before the Treasury committee, senior HMRC figures including Jon Thompson admitted that building post-Brexit IT systems could take longer than two years, and defended HMRC’s approach to tackling disguised remuneration arrangements

22 Nov 2018

Tax | PAC attacks half price student loan sell-off

The government’s 2017 sale of student loans at 48% of their face value to unnamed private investors has been fiercely criticised by the Public Accounts Committee (PAC), who have called it ‘a short-sighted approach which fails to convince’

22 Nov 2018

Tax

Personal Tax

Politics

Image for nunn structures and buildings allowance revamped tax relief

Tax | Nunn: structures and buildings allowance is revamped tax relief

The announcement of the Structures and Building Allowance in the Budget marks the return of an old tax relief revamped for the modern era, says Yvette Nunn CTA, founder of Berkeley Associates

22 Nov 2018

Tax | Lords call for delay in Making Tax Digital for VAT until 2020

A Lords committee has issued a scathing report on HMRC’s Making Tax Digital (MTD) for VAT program, due to come into full effect in April 2019, attacking HMRC’s unrealistic timeframe, lack of communication with businesses, and failure to improve following previous criticism

22 Nov 2018

Tax | DUP silence allows Finance Bill amendments through

Divisions over the government’s Brexit agreement has caused Northern Ireland’s Democratic Unionist Party (DUP) to deliver a stinging blow by failing to back the government on amendments to the Finance Bill proposed by opposition parties

21 Nov 2018

Tax | Meghan Markle’s tax status puts Royal finances in view

Meghan Markle could be bringing more than a touch of Hollywood glamour to her new role as Duchess of Sussex, with reports that the former actress may also be adding to the Royal Family’s tax complications while she remains a US citizen

21 Nov 2018