Tax | Case: ignorance of basic law not reasonable excuse

A couple's appeal against late filing penalties was dismissed by a First Tier Tribunal (FTT) after it ruled that the failure to submit non-resident capital gains tax (NRCGT) returns due to ignorance of basic law was not a reasonable excuse

6 Feb 2018

Tax

HMRC

Tax Compliance

Case Reports

Tax | Fraudsters scam taxpayers with vishing calls to mobiles

The latest scam to hit taxpayers is a call to mobile phone numbers from fraudsters posing as HMRC officials requesting immediate payment of £500 in so-called vishing attacks

6 Feb 2018

Tax

Personal Tax

HMRC

Tax Compliance

Tax | HMRC invites businesses to trial Making Tax Digital for VAT

HMRC has called on accounting institutes to help it recruit businesses for its Making Tax Digital for VAT pilot which starts in April 2018, with numbers limited at this stage

5 Feb 2018

Tax

Making Tax Digital

Business Tax

VAT

HMRC

Tax Planning

Tax | Crackdown on ‘McMafia’ property assets

The government has signalled its intent to use the new unexplained wealth orders (UWO) regime which came into effect last week as a way of tackling possible money laundering by Russian oligarchs and others suspected of corruption who have bought luxury properties in the UK

5 Feb 2018

Tax

International Tax

Tax Compliance

Tax Planning

Tax | Case: tax avoidance scheme closure notices

The Court of Appeal dismissed an application for judicial review over accelerated payment notices, confirming that the appellant owed HMRC a debt exceeding the bankruptcy limit

5 Feb 2018

Tax

HMRC

Case Reports

Tax | US tax reform: foreign dividend exemption and intangible income

The lower corporate rate, foreign dividend exemption and foreign derived intangible income make the US a more attractive location for foreign investments, but there are potential downsides for global businesses, say Craig Hillier, international tax services leader at EY

5 Feb 2018

Tax

Business Tax

International Tax

Tax Compliance

Tax Planning

Law and Regulation

Companies

Accountancy Firms

Tax | What happens if you miss the self assessment deadline

With the 31 January deadline to submit your self-assessment tax return for the year ended 5 April 2017 having come and gone, Blick Rothenberg personal tax assistant manager explains what you should do if you missed the deadline

2 Feb 2018

Tax

Personal Tax

HMRC

Tax | HMRC publishes guidance on updated non dom rules

HMRC has released a raft of guidance in relation to non-doms, including updates to the deemed domicile rules and the remittance basis, plus information about cleansing mixed funds, which apply from 6 April 2017

2 Feb 2018

Tax

Personal Tax

International Tax

HMRC

Tax Compliance

Tax Planning

Tax | Record 10.7m taxpayers file tax returns before deadline

The number of taxpayers who submitted their tax returns before the 31 January deadline hit 10.7 million, surpassing previous years records, with over 758,000 people cutting it fine and leaving it to the last minute to file

2 Feb 2018

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Guidance published on changes to business investment relief

HMRC has published guidance on updates to the business investment relief (BIR) rules, which apply from 6 April 2017 and mean a qualifying investment can now be made by acquiring existing shares in a target company, amongst other changes

1 Feb 2018

Tax

Business Tax

HMRC

Tax Compliance

Tax Planning

Tax | Employment tax updates: February 2018

Jackie Hall ACA CTA, partner at RSM on pre-population service delay hits tax agents, rise in auto enrolment pension contributions, beneficial register of interests for trusts must be accurate

1 Feb 2018

Tax

Employment Tax

Tax | VAT updates: February 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy is surprised at the decision over novation and land rights in Hanuman Commercial, disclosure of VAT avoidance schemes guidance effective, compound interest ruling in Littlewoods

1 Feb 2018

Tax

VAT

Tax | Tax updates: February 2018

This month's review of tax cases and tax news including tax avoidance scheme closure notices, reasonable excuse gives taxpayer part penalty relief, Making Tax Digital for VAT set for 2019, tax-free childcare for under nines starts

1 Feb 2018

Tax

Making Tax Digital

HMRC

Tax Compliance

Case Reports

Tax | HMRC’s supplier payments becoming less prompt

Despite signing up to government commitments to prompt payment, HMRC is getting slower at paying suppliers and organisations, its most recent data reveals

31 Jan 2018

Tax

HMRC

Business

Companies

Tax | HMRC clarifies pension relief at source rules

HMRC has clarified its guidance on changes affecting pension scheme administrators that reclaim tax relief using the relief at source (RAS) method, as a result of the introduction of the Scottish rate of income tax (SRIT)

31 Jan 2018

Tax

Personal Tax

HMRC

Tax Planning

Business

Pensions