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Image for uk E2 80 99s biggest businesses pay C2 A3805bn tax bill

Tax | UK’s biggest businesses pay £80.5bn tax bill

The UK’s biggest companies made a total tax contribution of £80.5bn this year, and are paying higher rates of tax than previously despite the continued reduction in the corporation tax rate, according to analysis by PwC for the 100 Group of finance directors which suggests property and employment taxes are becoming more significant
15 Dec 2015

Tax | National Living Wage will cost business £1bn a year

The introduction of the National Living Wage (NLW) to replace the National Minimum Wage (NMW) from April 2016 is set to cost businesses around £1bn, according to the Regulatory Policy Committee (RPC), the government’s appointed independent verification body, which is charged with scrutinising the underlying evidence base for regulatory proposals 
15 Dec 2015

Tax | HMRC rolls up case for VAT-free Scottish snowball

Eighteen months after an Edinburgh tribunal ruled that Scottish snowball cakes should be zero rated for VAT, bringing them in line with Jaffa cakes, HMRC has updated its guidance on the VAT status of the coconut-covered chocolate item which the tax authorities had originally tried to argue should be standard rated
15 Dec 2015
Image for housebuilders feel heat clampdown company distribution rules

Tax | Housebuilders feel heat from clampdown on company distribution rules

At a time when the government is pushing for more new homes to be built, changes to tax rules could push property developers into making losses including on housing currently being constructed, according to analysis from accountants Moore Stephens which is calling on the government to introduce transitional arrangements to mitigate the impact of new tax avoidance legislation on company distributions
15 Dec 2015

Tax | Skandia judgment forces change to VAT group rule

The recent European tax ruling in the Skandia case involving VAT grouping issues means that HMRC has been forced to update its briefing on the VAT grouping rules to reflect additional information about VAT grouping in the Netherlands and Spain, whch come into force in January
14 Dec 2015
Image for dodwell eu plan ccctb frankenstein tax

Tax | Dodwell: EU plan for CCCTB is a Frankenstein tax

Reform of corporate tax is a threat to sensible tax planning for multinationals as the European Commission tries to push through plans for the untenable Consolidated Common Corporate Tax Base (CCCTB). Bill Dodwell, head of tax policy at Deloitte says the tax proposals will merely remove tax advantages from lower tax countries and achieving pan-European agreement is far from straightforward
14 Dec 2015

Tax | Icelanders embrace Zuism to avoid religious tax

Thousands of people in Iceland have joined a new religion, Zuism, which promises to offer a refund on the religion tax they would otherwise have to pay to the state under Icelandic tax rules, regardless of whether or not they belong to an official church
11 Dec 2015
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