PwC has been brought in to advise Conviviality, the wholesaler and distributor of alcohol and impulse products, after the company discovered it had a £30m tax bill which had not been included in its short term cashflow projections

As part of the Chancellor’s Spring Statement, the Treasury is calling for evidence on what impact VAT and Air Passenger Duty (APD) has on tourism in Northern Ireland and how these taxes can be used to encourage people to travel

From April 2019, corporation tax and Construction Industry Scheme (CIS) deductions will be covered by security deposit legislation and the government is now consulting on how to best implement these changes

The American Institute of CPAs (AICPA) is calling for regulatory relief for certain controlled foreign corporation (CFC) taxpayers affected by what it describes as ‘unintended consequences’ from President Trump’s recent tax reforms

The Spring Statement saw the release of an updated Treasury policy paper on options for reforming the corporate tax regime to address the challenges of the digital economy, with government considering going it alone if there are delays in reaching international agreement on ways to address the way digital businesses are taxed

In his Spring Statement Chancellor Philip Hammond announced plans to unlock £20bn of investment in innovative firms over ten years, with the introduction of a new approved fund structure within the Enterprise Investment Scheme (EIS), with the possibility of additional incentives to attract investment

In our roundup of Spring Statement essentials, we outline the VAT threshold review, digital taxation, entrepreneurs’ relief and online VAT payments as well as providing a snapshot of the closing dates for the various consultations which were announced

The Treasury has launched a consultation to assess how the VAT registration threshold can incentivise small businesses to grow after it was reported that many opt to stay below the £85,000 turnover mark to avoid paying VAT

Chancellor Philip Hammond emphasised his desire to encourage an innovative business environment in his Spring Statement, which included the launch of a consultation on changes to entrepreneurs’ relief (ER) designed to ensure that it does not discourage entrepreneurs from seeking external finance for their companies

The Chancellor announced that the next business rates revaluation is to be brought forward by one year to 2021, four years after the last revaluation, so that ratepayers can benefit from three-year revaluations announced at Autumn Budget 2017 at the earliest point

As part of Chancellor Philip Hammond’s Spring Statement, HMRC is seeking views on how the tax authority can engage with online platforms, such as eBay and Uber, to promote tax compliance among its users

Chancellor Philip Hammond announced a consultation on plans to extend the existing tax relief available for self-funded work-related training by employees and the self-employed, as part of the government’s focus on creating an environment for individuals to develop their skills to boost productivity in the UK