Tax

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Tax | £20bn fund for NHS will raise taxes

The Office for Budget Responsibility (OBR) is warning that the Prime Minister’s recent pledge to increase spending on the NHS is likely to put significant pressure on public finances, placing public sector net debt on an ‘unsustainable upward trajectory’, unless the government introduces future tax rises or spending cuts

17 Jul 2018

Accountancy Firms

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Tax | Griffiths resigns as small business minister

Andrew Griffiths, MP for Burton, has resigned as small business minister in the Department for Business, Energy and Industrial Strategy (BEIS) after sending texts of a sexual nature to two female constituents

16 Jul 2018

Image for hmrc under fire over mutuality obligation contractor jobs

Tax | HMRC under fire over ‘mutuality of obligation’ in contractor jobs

HMRC has come under fire for failing to include a test for mutuality of obligation (MOO) as part of its check employment status for tax (CEST) tool used to determine whether or not public sector contractors fall within the IR35 framework, amid claims this approach will prove unworkable if it is extended to the private sector

16 Jul 2018

Image for reversal care worker sleep back pay causes hmrc concern

Tax | Reversal on care worker ‘sleep-in’ back pay causes HMRC concern

A Court of Appeal ruling on payments to care workers on ‘sleep-in shifts’, which says they should receive a flat rate per night and not the national minimum wage (NMW), is set to save social care providers £400m in back pay, but looks likely to raise a number of issues regarding HMRC’s enforcement approach

16 Jul 2018

Law and Regulation

Image for inheritance tax accounts iht400 clarifying timeline

Tax | Inheritance tax accounts IHT400: clarifying the timeline

HMRC has succumbed to pressure from practitioners and estate administrators to provide a timeline for when replies to submitted inheritance tax accounts IHT400 will be received. Rebecca Goldring, manager at Blick Rothenberg explains

16 Jul 2018

International Tax

Law and Regulation

Image for hmrc delays making tax digital vat trial businesses

Tax | HMRC delays Making Tax Digital for VAT trial for businesses

HMRC has assessed 18 software suppliers as having met its requirements for Making Tax Digital for VAT, ahead of the mandatory deadline for online filing next April, while its public trial for businesses who will have to keep and submit digital records will not now start until later this year

13 Jul 2018

Making Tax Digital

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Tax | Hi-tech boost to employee share schemes

The number of employee share schemes hit a record high in the UK in 2016/17, as incentive becomes increasingly popular amongst tech start-ups, according to analysis by Moore Stephens

13 Jul 2018

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Tax | 17% increase in time taken to answer calls at HMRC

HMRC is answering taxpayers’ calls 34 seconds slower (17%) on average than last year with answering times hitting four minutes and 28 seconds, according to the tax authority’s latest accounts, despite the overall quantity of calls dropping by 10%

12 Jul 2018

Image for hmrc sees drop taxpayer complaints upheld

Tax | HMRC sees drop in taxpayer complaints upheld

HMRC has made improvements to the way in which it handles complaints, but needs to make more effort to ensure the changes are applied consistently across the board, according to the annual report from the Adjudicator’s Office, which is also critical of the department’s culture

12 Jul 2018

Image for us tax authority failing tackle fatca compliance

Tax | US tax authority failing to tackle FATCA compliance

Despite spending nearly $380m (£287m), the Internal Revenue Service (IRS) is failing to enforce compliance with the Foreign Account Tax Compliance Act (FATCA), which is designed to ensure US taxpayers report foreign financial assets and offshore accounts

12 Jul 2018

International Tax

Image for government fails tackle unpaid carers earnings anomalies

Tax | Government fails to tackle unpaid carers’ earnings anomalies

The government should do more to secure the financial position of unpaid carers, and tackle the difficulties caused by the interactions between carer’s allowance, the minimum wage and tax credits, the Low Incomes Tax Reform Group (LITRG) is warning

12 Jul 2018

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Tax | ‘Ask Alexa’ for tax credit information

HMRC is offering three million taxpayers the opportunity to ask Alexa, Amazon’s virtual home assistant, for help in renewing their tax credits by the 31 July deadline

11 Jul 2018

Image for centralised eu vat system moving towards single one stop shop

Tax | Centralised EU VAT system: moving towards single one-stop shop

Is a definitive EU VAT system closer to being realised with Germany’s acceptance of a one-stop shop (OSS) for VAT on distance sales, asks Nicholas Hallam, CEO of Accordance

11 Jul 2018

Law and Regulation

Image for hmrc consults changes civil information powers

Tax | HMRC consults on changes to civil information powers

HMRC has launched a 12-week consultation on potential changes to its civil information powers, with a focus on the way it which it requests information from third parties, and the penalty regime

10 Jul 2018

Image for fb 2018 19 controlled foreign company rules tweaked atad compliance

Tax | FB 2018-19: controlled foreign company rules tweaked for ATAD compliance

Due to the introduction of the EU Anti-Tax Avoidance Directive (ATAD) before Brexit, the government plans to amend the tax rules on controlled foreign companies (CFCs) to ensure ongoing compliance

10 Jul 2018

International Tax

Image for fb 2018 19 hybrid and mismatch tax rules amended meet atad

Tax | FB 2018-19: hybrid and mismatch tax rules amended to meet ATAD

The government plans to amend the rules on the treatment of hybrid mismatches to ensure UK rules are aligned with the EU Anti-Tax Avoidance Directive (ATAD), with draft legislation set out in Finance Bill 2018-19

10 Jul 2018

International Tax

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