Tax

Latest news

Tax | EU VAT Forum launches call for business members

The European Commission has launched a fresh call for members representing business or tax practitioners with cross-border VAT experience to join the EU VAT Forum

20 Feb 2015

Tax

VAT

Tax | UK – Algeria double taxation convention signed

The UK and Algeria have signed a first-time comprehensive double taxation convention on 18 February 2015 for the avoidance of double taxation and the prevention of fiscal evasion and tax fraud with respect to taxes on income and on capital

20 Feb 2015

Tax

Tax Compliance

Law and Regulation

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Tax | Dodwell: the trouble with cash and the PAYE cleaner

The ruckus about paying in cash is creating some mirth as former chancellors and serving MPs vie to outdo each other on their payment arrangements for their cleaners, gardeners and car washers, says Bill Dodwell, senior tax partner and head of tax policy at Deloitte

18 Feb 2015

Tax | Government adds materiality threshold to draft banking reform pensions rules

The government has added a materiality threshold for clearance to draft banking reform pensions regulations, and removed the reporting requirements on trustees, following feedback from a consultation on the draft regulations. It also plans to monitor transitional tax protection issues arising from these regulations

18 Feb 2015

Tax | HMRC takes soft approach to PAYE penalties for short delays

HMRC has announced a change in the rules which mean that from next month employers will not incur penalties for delays of up to three days in filing PAYE information, with late payment penalties reviewed on a risk-assessed basis rather than be issued automatically.

17 Feb 2015

Tax

Business Tax

Tax Compliance

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Tax | Skandia VAT grouping ruling forces accounting changes

HMRC has issued a briefing on the recent Court of Justice of the European Union (CJEU) judgment concerning the impact of the VAT grouping rules on international groups which confirms no changes to UK grouping provisions are required, but indicates there may be changes to UK VAT accounting in some circumstances

17 Feb 2015

Tax | Overseas requests to UK for tax information up 45%

There has been a hike in the number of requests received by HMRC from foreign governments wanting to know more about the financial arrangements of individuals as more countries clamp down on tax evasion in response to changing attitudes internationally, according to research by Pinsent Masons

17 Feb 2015

Tax

Personal Tax

International Tax

Tax | HMRC issues Scottish LBBT stamp duty transitional rules

HMRC has issued guidance on applying the transitional rules for Land and Building Transaction Tax (LBTT) following its introduction on 1 April 2015 replacing the current UK system of stamp duty land tax (SDLT)

13 Feb 2015

Tax | Wales consults on SDLT replacement

The Welsh government is consulting on the structure and rates for a new land transaction tax to replace stamp duty in Wales, the first new tax to be levied in Wales for 800 years, following the recommendations of the Silk Commission for greater devolved powers

11 Feb 2015

Tax | HMRC starts rollout of Verify gov.uk authentification system for taxpayers

The government has started using a new identity authentication service provided by Experian, among other certified providers, to register and authenticate users of some of HMRC’s online digital services, starting with car benefits and self assessment registration

10 Feb 2015

Tax | PAC’s Hodge tells finance chiefs to pay their share of tax

Margaret Hodge MP has criticised professional advisers who accuse MPs of not understanding tax, pointing out it is in fact the profession that advises the Treasury on writing the tax code

10 Feb 2015

Leadership & Management

Companies

Tax | HMRC trials online company car tax changes

HMRC is running a trial of an online service allowing company car drivers to make changes to car and fuel benefits that will affect their tax codes

10 Feb 2015

Tax | HMRC finding it complex to identify Scottish taxpayers

With just over a year to go until the introduction of the new Scottish Rate of Income Tax (SRIT), HMRC has admitted it is proving ‘more complex than anticipated’ to identify Scottish taxpayers and is seeking wider data sharing powers

10 Feb 2015

Tax | Tax-free childcare rules redrafted following criticism

HMRC has amended the draft tax-free childcare legislation and will introduce separate laws to address childcare for disabled children following feedback received from a consultation on two proposed regulations which ran from July to October 2014

10 Feb 2015

Tax | HMRC to review £100 SA late payment penalty regime

HMRC has signalled it may be considering a more lenient approach towards people who are late sending in their self assessment income tax return, by removing the £100 penalty for missing the deadline for those who have made a genuine effort to get the information in on time but have slipped up

9 Feb 2015

Tax | Non-doms: how the remittance basis charge will work

The government’s plan to overhaul the tax status of non-doms with the introduction of a higher remittance basis charge (RBC) from April 2015 may be complex and punitive, says Ray McCann, partner and head of the private wealth tax practice at Pinsent Masons LLP, but you need to get to grips with the new rules quickly to ensure complete tax compliance

9 Feb 2015