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Image for warning potential catastrophic problems hmrcs customs system

Tax | Warning of potential ‘catastrophic’ problems with HMRC’s customs system

HMRC has been told it must do more to ensure its new customs system, the Customs Declaration Service (CDS) is ready in time for Brexit, or face ‘catastrophic’ consequences, according to a report from the public accounts committee (PAC) which warns the department is facing an overload of development work in the run up to the UK quitting the EU

14 Nov 2017

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Tax | Corporation tax loss relief rules: what you need to know

Lindsay Buckenham, tax director and Ben Moseley, partner at Deloitte, seek to demystify the biggest change to the UK’s corporation tax loss relief rules in a generation

14 Nov 2017

International Tax

Law and Regulation

Image for interest rate rise hits buy let landlords

Tax | Interest rate rise hits buy-to-let landlords

The increase in interest rates will land yet more pain for buy-to-let landlords already facing significant changes to income tax relief on residential property. Jackie Hall ACA CTA, partner at RSM, considers the immediate impact of a rise in mortgage interest rates

14 Nov 2017

Image for small businesses face digital filing early if vat threshold drops

Tax | Small businesses face digital filing early if VAT threshold drops

Proposals put forward by the Office of Tax Simplification (OTS) suggesting a potential reduction in the VAT registration threshold could impose digital record keeping requirements on small businesses earlier than expected, as well as increasing costs and administrative burdens, the Association of Taxation Technicians (ATT) is warning

13 Nov 2017

Making Tax Digital

Image for hmrc smashes ps108m fake eco investment scam

Tax | HMRC smashes £108m fake eco-investment scam

Six men have been jailed for a total of 45 years for a £107.9m tax crime, which HMRC says is one of the UK’s biggest, based on a fake eco-investment scheme they sold as a tax break for wealthy investors

13 Nov 2017

Called to Account

Image for dencher vat pub apportioned using floor space matthews

Tax | Dencher on VAT: pub apportioned using floor space in Matthews

When it comes to property transactions and VAT compliance there are some tricky issues to surmount. Stanley Dencher, specialist tax writer at CCH Online, considers the complexities of VAT treatment highlighted in the Matthews [2016] TC 05426 case about apportionment of a public house and upstairs flat

13 Nov 2017

Image for uber loses appeal payment national minimum wage drivers

Tax | Uber loses appeal on payment of national minimum wage to drivers

In a blow to one of the largest operators in the gig economy, Uber has lost its appeal to overturn last year’s Employment Tribunal decision that its drivers should be paid the national minimum wage and holiday pay, which could result in a hike in NICs payments for the company

10 Nov 2017

Image for no inflation increase hmrc worldwide subsistence rates

Tax | No inflation increase to HMRC worldwide subsistence rates

HMRC has confirmed that worldwide subsistence rates for expenses claims for employees travelling outside the UK will not be increased to account for post Brexit currency depreciation or inflation

10 Nov 2017

Image for stamp duty and brexit dampen property market

Tax | Stamp duty and Brexit dampen property market

Brexit worries and the general election result have taken their toll on the UK-based property and construction sector, with half of businesses viewing the impact as negative and just 9% as positive

10 Nov 2017

Image for taxpayers warned check hmrc repayment arrangements

Tax | Taxpayers warned to check HMRC repayment arrangements

In the run up to January’s online self assessment tax return deadline, the Low Incomes Tax Reform Group (LITRG) is warning of the risk that HMRC will issue any repayments due to last used debit or credit card, rather than the bank payment instructions entered on the forms

9 Nov 2017

Image for hmrc extends online registration deadline trusts

Tax | HMRC extends online registration deadline for trusts

HMRC has bowed to pressure from agents and stakeholders and has announced a further extension to the deadline for new trusts to register on its online trust registration service (TRS), designed to replace the 41G paper form which was withdrawn at the end of April 2017

9 Nov 2017

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Tax | When is a trust not a trust?

With the furore over the release of the Paradise Papers highlighting the widespread use of aggressive tax avoidance, Susan Rosser, partner and Gemma Rochelle, senior associate, litigation dispute resolution at Mayer Brown International LLP examine the risks of discretionary trusts in light of the long-running Pugachev litigation

9 Nov 2017

International Tax

Image for littlewoods end road compound interest claims

Tax | Littlewoods: end of the road for compound interest claims

Robert Marchant, partner at Crowe Clark Whitehill, considers how the outcome of the Littlewoods case will affect outstanding compound interest VAT reclaims, which are estimated to total as much as £17bn

9 Nov 2017

Image for grunberg co offer probate service clients

Tax | Grunberg & Co to offer probate service to clients

Accountancy firm Grunberg & Co has been authorised to provide probate services to its clients to support its inheritance tax planning offer

8 Nov 2017

Accountancy Firms

Image for moore stephens ramp us tax expertise uk

Tax | Moore Stephens to ramp up US tax expertise in UK

The Moore Stephens accountancy network is planning to tap into what it sees as a under-developed market for offering US tax services from London, with a new hire from Deloitte US at the helm, who has joined as the US tax season starts

8 Nov 2017

International Tax

Accountancy Firms

Image for eu looking scrutinise apples tax arrangements

Tax | EU looking to scrutinise Apple’s tax arrangements

Tech giant Apple’s tax arrangements are in the spotlight once more, as leaked documents from the Paradise Papers outline how the company sought to locate a new low tax jurisdiction after the EU brought pressure on Ireland to end a so-called ‘sweetheart deal’, while the EU is set to re-examine the Irish arrangements

8 Nov 2017

International Tax

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