Tax

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Image for uk threatens irelands number one spot top tax destination multinationals

Tax | UK threatens Ireland's number one spot as top tax destination for multinationals

The UK is ranked number two in the world in the latest KPMG survey into global business tax competitiveness, vying with Ireland for the top tax spot in terms of multinationals' perception of favourable tax jurisdictions and location for foreign direct investment, according to a KPMG poll of over 100 of the largest UK listed companies and foreign owned subsidiaries

11 Mar 2016

International Tax

Accountancy Firms

Image for high earners fail plan reduced annual pension contributions allowance

Tax | High earners fail to plan for reduced annual pension contributions allowance

Higher earners are at risk of breaking new rules on pension contributions, following the reduction in the annual allowance from the current £40,000, as employers are shifting the responsibility for ensuring compliance onto staff

11 Mar 2016

Leadership & Management

Image for hmrc trials online complaints service paye income tax problems

Tax | HMRC trials online complaints service for PAYE income tax problems

HMRC has revealed it is developing a new online service for people who want to raise complaints about the service they have received in relation to PAYE or income tax

11 Mar 2016

Image for scottish s tax code hits p9 coding out problem hmrc it glitch

Tax | Scottish S tax code hits P9 coding out problem with HMRC IT glitch

In the run-up to the introduction of the Scottish S code for Scottish resident taxpayers from 6 April under the new Scottish rate of income tax (SRIT) regime, employers are experiencing a technical problem uploading data through payroll software in the annual coding run, reports Sara White

10 Mar 2016

Image for majority insolvency practitioners find hmrc unhelpful

Tax | Majority of insolvency practitioners find HMRC ‘unhelpful’

Over half (54%) of insolvency practitioners believe that HMRC makes it harder to rescue businesses than wind them up, ignoring letters and failing to answer calls, according to a survey of the insolvency profession by R3, which wants to see an overhaul of the tax authority’s approach

10 Mar 2016

Restructuring & Insolvency

Accountancy Firms

Image for plans dotas hallmark extension risk casting net too wide

Tax | Plans for a DOTAS hallmark extension risk casting net too wide

Plans to extend the hallmark regulations for the disclosure of tax avoidance schemes (DOTAS) regime risk casting too wide a net and capturing straightforward tax planning, warns Chris Williams, senior manager, national tax team at Mazars and chair of CIOT's succession taxes sub-committee

10 Mar 2016

Image for low key rollout digital tax accounts leaves individual taxpayers dark

Tax | Low key rollout of digital tax accounts leaves individual taxpayers in the dark

With only four weeks to go until the rollout of digital tax accounts to all UK individual taxpayers, HMRC's communications strategy is likely to be dominated by online messages and YouTube videos, rather than any direct letters from HMRC.

9 Mar 2016

Making Tax Digital

Image for dodwell pensions prove easy target treasury

Tax | Dodwell: pensions prove easy target for the Treasury

UK tax rules on pensions relief are under review as the cost to the Exchequer rises but constant changes to the rules creates uncertainty, says Bill Dodwell, senior partner and head of tax policy at Deloitte

9 Mar 2016

Image for extra time bolton wanderers over winding

Tax | Extra time for Bolton Wanderers over winding up

Bolton Wanderers has announced that it has been granted a third and final adjournment of 14 days by the High Court in respect of the winding up petition brought by HMRC over an unpaid bill for £2.2m in tax and VAT at the football club

8 Mar 2016

Image for lib dems say legalising cannabis could raise ps1bn tax

Tax | Lib Dems say legalising cannabis could raise up to £1bn tax

Legalising cannabis sales in the UK could bring in between £500m and £1bn annually in tax, according to a report on developing a framework for a regulated cannabis market put out by the Liberal Democrats, which suggests the drug should be taxed in line with its potency, taking a leaf from Colorado in the US

8 Mar 2016

Image for vodafone fails attempt alter ps41m vat refund claim

Tax | Vodafone fails in attempt to alter £4.1m VAT refund claim

Vodafone has failed in an attempt to amend a £4.1m VAT refund claim by substituting a different reason for claiming, with an Upper Tribunal (UT) agreeing with HMRC that the telecom group was trying to replace one claim with another after the expiry of the statutory time limits

7 Mar 2016

Image for hmrc wins stagecoach sideways loss case over ps11m tax bill

Tax | HMRC wins Stagecoach sideways loss case over £11m tax bill

A tax avoidance scheme used by Stagecoach Group to cut their tax bill by £11m has been stopped in its tracks according to a First Tier Tribunal (FTT) relating to a tax case heard last July, reports Sara White

7 Mar 2016

Image for hmrc launches youtube video making tax digital accounts business

Tax | HMRC launches YouTube video on Making Tax Digital accounts for business

In the move to a purely digital tax environment for businesses, HMRC has released a YouTube video outlining how digital tax accounts will work when they are introduced for all small to medium sized businesses from April 2018

7 Mar 2016

Making Tax Digital

Accountancy Firms

Image for probate fees out consultation moj moves online service

Tax | Probate fees out for consultation as MoJ moves to online service

The Ministry of Justice (MOJ) has launched a consultation setting out proposals for increasing the fee payable for an application for a grant of probate which is expected to raise an additional £250m a year to contribute to court operational costs

7 Mar 2016

Image for lords select committee slams hmrcs lack communication over tax changes

Tax | Lords select committee slams HMRC’s lack of communication over tax changes

The House of Lords Economic Affairs Committee has accused HMRC of an ‘inadequate’ communications strategy which has left most taxpayers in the dark about key upcoming changes to the tax system relating to savings and dividend payments, and criticised plans to move to quarterly online tax updates as part of HMRC's Making Tax Digital strategy

4 Mar 2016

Making Tax Digital

Image for bacs payments need be pulled forward avoid easter break

Tax | BACS payments need to be pulled forward to avoid Easter break

Due to the dates for Easter this month, payment dates need to be pulled forward to avoid delays in direct debits and Bacs direct credit, warns Bacs Payment Schemes

3 Mar 2016

Accountancy Firms

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