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Image for hmrc collect C2 A3200m following avoidance scheme defeat

Tax | HMRC to collect £200m following avoidance scheme defeat

The First Tier Tribunal has found in favour of HMRC in a case concerning a complex tax avoidance scheme developed by Montpelier Tax Consultants and used mainly by property developers and IT contractors which sought to exploit the UK’s double-taxation agreement (DTA) with the Isle of Man, opening the way for the collection of up to £200m in unpaid tax.
6 Oct 2015

Tax | BEPS 2015: OECD rejects 'ring fencing' digital economy in favour of multi-level approach

The OECD’s BEPS project has rejected the idea of ‘ringfencing’ the digital economy from the rest of the economy for tax purposes, but has stressed that a number of new measures are specifically designed to address growing concerns about  tax planning by multinational enterprises (MNEs) that makes use of gaps in the interaction of different tax systems to artificially reduce taxable income or shift profits to low-tax jurisdictions in which little or no economic activity is performed
5 Oct 2015
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Tax | Tax updates: October 2015

A roundup of the latest tax case reports from special relief in Scott to Rowe and Ors lose case at judicial review over advance payment notices (APNs), Scottish rate of income tax (SRIT) confusion and objections to plans for rushed introduction of benefits in kind (BIK) payrolling
1 Oct 2015

Tax | Tax data: October 2015

Download the latest HMRC CGT indexation allowance for June 2015, RPI Index for August 2015 and HMRC rates of interest, stamp duty land tax and land and buildings transaction tax rates, and more
1 Oct 2015
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Tax | Tax filing deadlines: Oct-Dec 2015

The key HMRC filing deadlines including PAYE cheque payment dates, corporation tax payments for 31 Dec 2014 year ends and reminder that last chance to maximise use of £300K annual investment allowance expires on 31 Dec 2015
30 Sep 2015

Tax | Employment tax burden too high across EU - Commission report

EU member states have made progress towards improving their tax systems but most still struggle to reduce the tax burden, clamp down on tax avoidance and improve collection rates, with VAT compliance running at levels as high as 40% non-collection in certain states, according to a report on tax reforms across the EU28 published by the European Commission 
29 Sep 2015

Tax | Labour to review HMRC, Treasury and Bank of England

Shadow Chancellor John McDonnell has said a future Labour government would adopt ‘aggressive’ plans to balance the books, including strong action on corporate tax avoidance and a more progressive taxation system, but stopped short of giving details of any new tax hikes in his speech to the party’s conference in Brighton yesterday 
29 Sep 2015

Tax | Scotland set to review inheritance and succession rules

The Scottish parliament is reviewing succession rules with plans to intthe roduce Succession (Scotland) Bill to modernise and clarify some technical aspects of the Scottish law relating to succession which regulates how property passes on a person‘s death following a substantive review by the Scottish Law Commission
29 Sep 2015
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Tax | European Commission to review problematic MOSS VAT

In the face of complaints about the MOSS digital VAT system, particularly from small and micro businesses, the European Commission has launched a public consultation to identify ways to simplify the VAT payments on cross-border e-commerce transactions in the EU, less than a year after introducing a new regime governing digital transactions which it acknowledges has caused difficulties
29 Sep 2015
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