Tax

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Image for business rates revaluation will hike bills one four

Tax | Business rates revaluation will hike bills for one in four

The government has launched a four-week consultation on the long-delayed revaluation of business rates and details of transitional arrangements for businesses hit by substantial rises, which are likely to result in higher rates for one in four businesses

30 Sep 2016

Accountancy Firms

Image for pra issues tighter lender criteria buy let landlords

Tax | PRA issues tighter lender criteria for buy-to-let landlords

The Prudential Regulation Authority (PRA) has set out tight guidelines for affordability assessments and lending criteria for buy0to-let and portfolio landlords in a move to clamp down on potential abuse of buy-to-let mortgages

29 Sep 2016

Accountancy Firms

Image for meps refuse cut eu budget 2017

Tax | MEPs refuse to cut EU budget for 2017

The European parliament has rejected plans to cut the draft 2017 EU budget. The budget committee voted in favour of a proposed budget amounting to €161.8bn in commitments, €4.13bn more than the original Commission proposal, saying the EU needed to increase funding to fight youth unemployment and increased spending on research and infrastructure projects

29 Sep 2016

Image for france plans cut corporation tax 28 2020

Tax | France plans to cut corporation tax to 28% by 2020

The French government has put forward a 2017 budget plan outlining plans to cut corporation tax rate to 28% by 2020

29 Sep 2016

International Tax

Accountancy Firms

Image for personal savings allowance excludes isa interest

Tax | Personal Savings Allowance excludes ISA interest

HMRC has updated the Personal Savings Allowance (PSA) guidance, providing information on tax-free products that do not count towards a PSA, which was introduced by government in April earlier this year

29 Sep 2016

Image for hmrc consults penalty vat fraud

Tax | HMRC consults on penalty for VAT fraud

HMRC is consulting on proposals to introduce a new penalty for businesses that participate in VAT fraud, which were first outlined at Budget 2016, which would be levied at the same time as the offence and which could extend to company officers

29 Sep 2016

Image for securing zero rated vat status residential properties

Tax | Securing zero-rated VAT status on residential properties

Securing zero-rated VAT status is crucial for property developers if they want to ensure profitabilty on new residential developments, but to do so VAT liability must be calculated at an early stage, suggests Robert Facer, director of VAT at Menzies

29 Sep 2016

Image for european parliament starts panama papers scrutiny

Tax | European Parliament starts Panama Papers scrutiny

The European Parliament’s committee of inquiry into money laundering, tax avoidance and tax evasion (PANA), set up in the wake of the release of the Panama Papers earlier this year, has held first public hearing

28 Sep 2016

International Tax

Image for what you need know national minimum wage increases 1 october

Tax | What you need to know: national minimum wage increases 1 October

National minimum wage (NMW) rates will increase on 1 October by between 3% and 4.7% for workers under the age of 25 and apprentices, and employers need to make sure the new rates are implemented for all hours worked from that date, but there are a number of compliance pitfalls for employers, warns Jackie Hall, tax partner at RSM

28 Sep 2016

Accountancy Firms

Image for tax data cgt data jun 2016 hmrc rates interest stamp duty

Tax | Tax data: CGT data Jun 2016, HMRC rates of interest, stamp duty

Download the HMRC CGT indexation allowance for June 2016, RPI Index for August 2016 and HMRC rates of interest, changes to stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

28 Sep 2016

Image for australian backpacker tax cut 19 325

Tax | Australian backpacker tax cut to 19% from 32.5%

The Australian federal government has announced that the 32.5% tax rate that would apply to working holiday visa holders will be cut to 19% following opposition from Nationals MPs and farmers

27 Sep 2016

International Tax

Image for tax treatment serious ill health lump sums revised

Tax | Tax treatment of serious ill health lump sums revised

Following announcements made in Budget 2016, changes to pension tax rules have now come into force with a reduction in the tax rate chargeable on serious ill-health lump sums paid to individuals who have reached age 75

27 Sep 2016

Image for labour pledge ps10 hour living wage

Tax | Labour pledge to £10 per hour living wage

A Labour government would introduce a living wage rate of at least £10 an hour and pledge to ‘end the social scourge of tax avoidance’, shadow chancellor John McDonnell has told the party's annual conference

27 Sep 2016

Image for hmrc tax support programmes developing countries over ambitious

Tax | HMRC tax support programmes for developing countries ‘over ambitious’

The UK government’s work to support developing countries fight tax avoidance and evasion has come under fire for its lack of focus in an official report, which also says it has failed to achieve value for money when sending HMRC specialists overseas to run in-country tax programmes

27 Sep 2016

International Tax

Image for hmrc beats nt advisors over ps143m case court appeal

Tax | HMRC beats NT Advisors over £143m case at Court of Appeal

NT Advisors has lost its latest case in the Court of Appeal involving a disputed tax avoidance scheme using circular payments, making it the tax authority’s tenth successive win

26 Sep 2016

Image for noonan claims apple tax appeal could take four years

Tax | Noonan claims Apple tax appeal could take four years

Ireland’s finance minister, Michael Noonan, has claimed that the appeal on the European Commission’s decision to recover £11bn in taxes from Apple could take up to four years but has strong advice that Ireland could win

26 Sep 2016

Law and Regulation

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