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Tax | Register of beneficial ownership of trusts: who does it affect?

The launch of a register of beneficial ownership of trusts from June 2017 will sweep up all UK trusts and non-UK trusts with UK tax liability, with only bare trusts excluded. Jason Collins, partner and head of tax investigation, and Paul Noble, tax director at Pinsent Masons examine how the system will work and provides tips on the extended HMRC notification process

13 Jun 2017

International Tax

Law and Regulation

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Tax | Warning on DVLA car tax scam

Driver & Vehicle Licensing Agency (DVLA) is warning about a tax scam which targets drivers using a fake email, supposedly sent by DVLA, including a reference to report phishing as part of the hoax

13 Jun 2017

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Tax | Liz Truss handed Treasury role as Gauke joins DWP

The post-election cabinet reshuffle has seen former justice secretary and CIMA member Liz Truss appointed chief secretary to the Treasury, after previous incumbent David Gauke was promoted to secretary of state for work and pensions

12 Jun 2017

Image for us vote water down dodd frank regulations

Tax | US vote to water down Dodd-Frank regulations

The US House of Representatives has voted through a Bill that would rescind many of the key banking reforms and regulations implemented after the 2008 financial crisis, although there is little chance that the Senate will pass this into legislation

12 Jun 2017

International Tax

Corporate Governance

Image for call longer period settle inheritance tax bills

Tax | Call for longer period to settle inheritance tax bills

Royal London is calling on HMRC to grant people more time to settle inheritance tax bills, after finding executors of larger, more complex estates risk having to pay these out of their own pocket, because of the time taken to wind up financial affairs

12 Jun 2017

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Tax | 3% of MPs are accountants

Out of the 650 MPs elected on 8 June as part of the general election, 20 of the successful candidates (3%) have an accounting background, with 51 accountants running in the election overall

12 Jun 2017

Accountancy Firms

Leadership & Management

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Tax | Election result may save SFO

The Serious Fraud Office’s (SFO) future could be protected after the Conservatives failed to secure a majority in the general election

12 Jun 2017

Accountancy Firms

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Tax | Hammond keeps his job as Chancellor of the Exchequeur

Philip Hammond is set to remain as Chancellor in the new Conservative minority government, retaining his position at the Treasury, alongside other senior ministers including foreign secretary Boris Johnson and Brexit minister David Davis

9 Jun 2017

Making Tax Digital

Image for dup could clash conservatives over brexit

Tax | DUP could clash with Conservatives over Brexit

The Democratic Unionist Party’s (DUP) opposition to a hard Brexit could prove a stumbling block in attempts to strike a deal with the Conservatives, reports Calum Fuller

9 Jun 2017

Image for election 2017 what hung parliament means tax policy

Tax | Election 2017: what a hung parliament means for tax policy

The final outcome of the election with a hung parliament and a Conservative government propped up by the Northern Irish DUP leaves business in a period of uncertainty in the runup to Brexit. Brian Palmer, tax policy adviser at the AAT, asks what the post election tax landscape looks like for tax advisers and accountants

9 Jun 2017

Making Tax Digital

Image for uk property developers warned bulgarian vat case

Tax | UK property developers warned on Bulgarian VAT case

A recent opinion given by the advocate general of the European Court of Justice (CJEU), relating to VAT recovery on building costs, could have implications for property developers and housebuilders in the UK who enter into planning gain agreements, Saffery Champness is warning

9 Jun 2017

International Tax

Image for couple win appeal against hmrc over compulsory vat registration

Tax | Couple win appeal against HMRC over compulsory VAT registration

A First Tier Tribunal (FTT) has allowed a husband and wife’s appeal against HMRC’s decision that the couple ran one business in partnership, rather than two separate businesses, and were therefore eligible for compulsory VAT registration

9 Jun 2017

Image for calculating mileage payments electric and hybrid company cars

Tax | Calculating mileage payments for electric and hybrid company cars

The Miles Consultancy (TMC) has produced a guide showing how businesses can calculate mileage repayment rates for electric and hybrid company cars instead of using HMRC’s advisory fuel rates or approved mileage allowance payments, which only cover petrol and diesel cars

9 Jun 2017

Image for financial secretary ellison casualty election fallout

Tax | Financial secretary Ellison casualty of election fallout

Former Conservative MP Jane Ellison, who was financial secretary to the Treasury in the previous government and heavily involved in the Making Tax Digital programme, is one of the casualties of a tumultuous election night, losing her seat in Battersea following a 9% swing to the Labour candidate

9 Jun 2017

Making Tax Digital

Image for apple ceo wants trumps repatriation tax made mandatory

Tax | Apple CEO wants Trump’s repatriation tax made mandatory

Tim Cook, tech giant Apple’s CEO, has called for President Trump’s proposed repatriation tax, which aims to bring money from offshore income back into the US, to be mandatory for all US companies

9 Jun 2017

International Tax

Image for tax risk highest uk us and australia says ey report

Tax | Tax risk highest in UK, US and Australia, says EY report

Developed economies, including the UK, US and Australia, rather than emerging economies as previously, have become the top five tax risk jurisdictions as a result of globalisation, according to research by EY

9 Jun 2017

International Tax

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