Tax

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Tax | Plaid Cymru bids for extra £1.2bn annually for Wales

If Plaid Cymru holds the balance of power following the general election, the party has said it will demand that Wales is funded to the same level per head as Scotland and have the same taxation rights, according to the party’s manifesto

21 Apr 2015

Tax

Politics

Tax | SNP plans to raise NICs employment allowance to £6,000

Top earners will face a 50p tax rate for those earning £150,000 plus under plans outlined in the SNP manifesto launched today, while the party pledges support for small business with extension of the employment allowance to reduce employer national insurance contributions

20 Apr 2015

Tax

Politics

Tax | OECD consults on BEPS Action 11 on data collection methodologies

The OECD has released a discussion draft on Action 11 of its Base Erosion and Profit Shifting (BEPS) project, which focuses on how to establish methodologies to collect and analyse data on BEPS and determine what actions are needed to address the issues

17 Apr 2015

Tax

International Tax

Consultations

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Tax | General election 2015: tax policies in the manifestos and what they mean for advisers

In the run-up to the general election on 7 May, Accountancy reviews the key tax measures announced by the political parties in their manifestos and in public speeches in the run-up to this year's election and their impact on business. Jaimie Kaffash talks to leading tax advisers about their tax wish list and realistic expectations

16 Apr 2015

Tax | UKIP plans 30% ‘intermediate’ tax rate

A future UKIP government would raise the personal tax allowance to a minimum of £13,000, introduce a new 30% intermediate income tax rate and abolish inheritance tax, according to the party’s manifesto

16 Apr 2015

Tax

Politics

Tax | Italy takes Guernsey and Mauritius off tax haven blacklist

Guernsey and Mauritius have been removed from the Italian finance authority’s revised blacklist of tax havens as a result of more openness on exchanging tax information, reducing Italian concerns about potential tax abuse

16 Apr 2015

Tax

Tax Compliance

Tax | OECD says tax burdens on wages rising globally

Taxes on wages are rising across the OECD even though most governments, including the UK, have not increased income tax rates, largely because wages are increasing faster than tax allowances and credits, according to the latest OECD Taxing Wages report

15 Apr 2015

Tax

Tax Compliance

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Tax | VAT Expert Group adopts opinion on cross-border rulings

The European Commission’s VAT Expert Group has adopted an opinion which supports cross-border rulings (CBR) pilot and the extension of the CBR test case until 2018

15 Apr 2015

Tax

VAT

Case Reports

Tax | LITRG warns of risks to tax credits claims under pensions flexibility

The Low Incomes Tax Reform Group (LITRG) is warning those over the age of 55 who are thinking about drawing down their pensions early to carefully consider the impact on tax credit claims.

14 Apr 2015

Tax

Personal Tax

Tax Compliance

Image for deeds variation how changes would affect inheritance tax planning

Tax | Deeds of variation: how changes would affect inheritance tax planning

In the last throes of the coalition government, the Chancellor George Osborne announced plans to review the use of deeds of variation in inheritance planning, citing concerns tax abuse. Lynne Rowland, private client tax partner at Kingston Smith LLP, considers the tax implications and impact on future inheritance tax (IHT) planning

14 Apr 2015

Tax

Personal Tax

Tax Planning

Tax | HMRC issues incorrect penalties on Trust and Estate 2014 returns

CIOT and the ATT are alerting their members to incorrect penalties being issued by HMRC on SA900 Trust and Estate Returns

13 Apr 2015

Tax

Personal Tax

Tax Compliance

Image for ifs warning E2 80 98chaos E2 80 99 cuts high earner pensions relief

Tax | IFS warning on ‘chaos’ of cuts to high earner pensions relief

As election fever picks up and the political parties vie for votes, influential thinktank, the Institute for Fiscal Studies (IFS) suggests that Conservative and Labour proposals to cut pensions tax relief for those with an income above £150,000 risk creating ‘chaos’

13 Apr 2015

Tax | HMRC guidance on FATCA tax rules updated

HMRC has updated the reporting requirements under the US Foreign Account Tax Compliance Act (FATCA), which may mean that some organisations or taxpayers no longer need to submit a return by the 31 May deadline

13 Apr 2015

Tax | Tax avoidance crackdown to raise £7.5bn annually, claims Labour

The Labour party’s manifesto, launched today, will include a commitment to crack down on tax avoidance, with new fines raising £7.5bn a year, while there will also be wider powers for HMRC following a review of its structure and effectiveness

13 Apr 2015

Tax | Businesses want to return EU membership from tax perspective, says ICAS

An ICAS survey of UK-based business people has found strong support for staying in the EU with respondents stating that the UK would be ‘severely restricted’ in its ability to make tax or regulatory changes if it quit membership of the 28-strong body

13 Apr 2015

Tax

Tax Planning

Tax | Tory pledge for IHT-free £1m homes to be funded by £150k earners

Conservative leader David Cameron has said the party will cut inheritance tax (IHT), with new property-based reforms allowing parents and grandparents to leave homes worth up to £1m tax-free to younger generations in the family, a policy mooted before the last election in 2010 but over-ruled in the coalition agreement

13 Apr 2015

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Tax Services

Latest news

Tax | Plaid Cymru bids for extra £1.2bn annually for Wales

Tax | SNP plans to raise NICs employment allowance to £6,000

Tax | OECD consults on BEPS Action 11 on data collection methodologies

Tax | General election 2015: tax policies in the manifestos and what they mean for advisers

Tax | UKIP plans 30% ‘intermediate’ tax rate

Tax | Italy takes Guernsey and Mauritius off tax haven blacklist

Tax | OECD says tax burdens on wages rising globally

Tax | VAT Expert Group adopts opinion on cross-border rulings

Tax | LITRG warns of risks to tax credits claims under pensions flexibility

Tax | Deeds of variation: how changes would affect inheritance tax planning

Tax | HMRC issues incorrect penalties on Trust and Estate 2014 returns

Tax | IFS warning on ‘chaos’ of cuts to high earner pensions relief

Tax | HMRC guidance on FATCA tax rules updated

Tax | Tax avoidance crackdown to raise £7.5bn annually, claims Labour

Tax | Businesses want to return EU membership from tax perspective, says ICAS

Tax | Tory pledge for IHT-free £1m homes to be funded by £150k earners