Tax

Employment Tax

Tax | FB2016: simplified expenses for partnerships using home for business purposes

In line with the government’s aim to simplify tax, partners in partnerships which have adopted simplified expenses for income tax purposes will be eligible for fixed-rate deductions from the new tax year, as set out in draft Finance Bill 2016

9 Dec 2015

Tax | Tax exemption for trivial benefits in kind sub £50 effective April 2016

Dropped in the run-up to the general election due to a limited time for legislation, the government is pushing ahead with plans to introduce a statutory exemption to exempt from income tax and NICs low-value benefits in kind (BIK) set at a £50 limit

9 Dec 2015

Tax | Government issues draft Finance Bill 2016 targeting evaders, extending HMRC powers

Cuts in the dividend tax, changes to the pensions lifetime allowance and a raft of anti-avoidance and anti-evasion measures, particularly targeted at proponents of aggressive tax schemes and those using offshore bank accounts to conceal money, as well as new powers for HMRC, form the bulk of the draft legislation for Finance Bill 2016

9 Dec 2015

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Tax | Government consults on abolition of Class 2 NICs

All self-employed people will be affected by plans to abolish Class 2 national insurance contributions (NICs) which will be replaced by a single payment following reform of Class 4 NICs once the government completes a series of consultations

9 Dec 2015

Personal Tax

Tax | Gift Aid Small Donations Scheme (GASDS) up for review

HMRC has issued a consultation outlining plans to change the Gift Aid Small Donations Scheme (GASDS) to reduce the administrative burden for charities and provide a possible £10,000 top-up payment in circumstance where it is difficult to obtain Gift Aid declarations such as bucket collections or church plate collections

9 Dec 2015

Consultations

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Tax | HMRC helpline for businesses hit by floods after Storm Desmond

Following the damage created by Storm Desmond in Cumbria last weekend, HMRC has set up a dedicated telephone helpline for anyone affected by severe weather and flooding, but is facing calls for wider action to counter the effects of storm damage, loss of power and flooding, while business rates and council tax charges for flooded businesses will be suspended for three months

9 Dec 2015

HMRC

Image for elliott adecco ruling temp workers creates contradiction

Tax | Elliott: Adecco ruling on temp workers creates contradiction

The latest First Tier Tribunal ruling on the Adecco case concerning payment of temp workers flies in the face of the earlier Reed Employment decision, raising the likelihood of a certain appeal to settle the matter, says Graham Elliott, principal at City & Cambridge Consultancy

9 Dec 2015

VAT

Case Reports

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Tax | Autumn Statement 2015 commentary

To keep up to speed with the major tax developments announced in the Chancellor's recent Autumn Statement and for expert summary of the main changes, download our exclusive Autumn Statement 2015 commentary, written by Wolkers Kluwer tax experts, so you can deal confidently with queries from clients and colleagues

4 Dec 2015

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Tax | McDonald's faces EC probe into Luxembourg tax arrangements

McDonalds is the latest multinational to face a tax probe by the European Commission into its use of permanent establishment and double taxation treaties to minimise its global tax bill through tax agreements with the Luxembourg authorities

3 Dec 2015

Tax | Changes to corporation tax payment dates to raise £4.4bn

The government is changing the instalment payment dates for corporation tax for ‘very large companies’ with annual taxable profits exceeding £20m from 2017 and has issued draft legislation for review

3 Dec 2015

Tax | Nunn: quality of Gift Aid re-write fails to address tax liability concerns

The rewrite of Gift Aid rules is a disappointing failure and a missed opportunity, leaving taxpayers open to unexpected bills from HMRC if they fall below the tax threshold and are generous contributors to charities, warns Yvette Nunn CTA, principal at Berkeley Associates

3 Dec 2015

Tax | Liechtenstein to share data on taxpayer bank accounts with EU

The EU has signed a tax exchange agreement with Liechtenstein to automatically share information on the bank accounts of each other's residents, starting in 2018, in a move designed to make it harder for EU citizens to conceal cash from the tax authorities in bank accounts

3 Dec 2015

Tax Planning

Tax | Consultations: small company taxation, Patent Box, ESC removal

A snapshot of major HMRC and Treasury consultations with details, closing dates for feedback and links to original documents, including the Autumn Statement 2015 releases

3 Dec 2015

Consultations

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Tax | High value property taxation - CPD module - NEW

This CPD module focuses on high value property taxation

2 Dec 2015

Tax | NEW: CPD module on high value property tax - what you need to know

The latest CPD module focuses on high value property tax transactions and considers the rapidly changing requirements from ATED to capital gains tax and inheritance tax issues presented by tax specialist Cath Hall

2 Dec 2015