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Tax | Tax updates: February 2015

Our monthly roundup of significant tax cases from Donaldson losing the argument at Upper Tribunal over late filing penalties, qualifying trading company test not satisfied in Branagan, LZW fined over SDLT avoidance scheme, devolving tax powers to Northern Ireland and structural weaknesses at Office for Tax Simplification hamper progress on tax reform

2 Feb 2015

Tax | Consultations: February 2015

The latest open HMRC consultations on employment intermediaries and expenses, tax enquiry closure rules and non-inventory linked ports

2 Feb 2015

Tax | IoD calls for radical overhaul of tax system

Ahead of the general election, the Institute of Directors (IoD) is calling on the next government to merge or scrap taxes which raise under £5bn a year as part of a radical reform of the tax system

2 Feb 2015

Tax | VAT updates: February 2015

VAT expert Graham Elliott reviews the latest developments from changes to VAT refunds for search and rescue charities to the ramifications of the Citibank decision in missing trader intra-community (MTIC) case

2 Feb 2015

Tax | Tax filing deadlines: Feb-Apr 2015

The key tax filing deadlines for the next quarter from corporation tax returns to PAYE cheque payments

1 Feb 2015

Tax | Gauke attacks 'hard-core' serial tax evaders

The government is planning to introduce harsher penalties and sanctions for serial users of tax avoidance schemes

30 Jan 2015

Tax | HMRC clarifies General Anti-Abuse Rule (GAAR) guidance

HMRC has updated the five-part General Anti-Abuse Rule (GAAR) guidance to make certain clarifications, including details about the inclusion of national insurance contributions (NICs) within the rules, and procedural amendments, including the liabililties of taxpayers when dealing with GAAR advisory panel requests for information

30 Jan 2015

Tax | LDF undisclosed tax scheme yields over £1bn

HMRC’s latest statistics show the tax yield from the Liechtenstein Disclosure Facility (LDF) for undeclared offshore liabilities has climbed through the £1bn barrier, but is likely to be well short of delivering the £3bn originally promised by the time the scheme closes next year

29 Jan 2015

Tax | Revenue Scotland consults on taxpayer charter

Revenue Scotland, the body set up to administer devolved taxes from April 2015, is consulting on a proposed charter outlining the standards and values which will govern its dealings with taxpayers and their tax agents and advisers in Scotland

28 Jan 2015

Tax | EU sets up expert group to shape transfer pricing rules

The European Commission is to set up an EU Joint Transfer Pricing Forum expert group which extends the mandate of the JTPF until March 2019

26 Jan 2015

International Tax

Leadership & Management

Tax | Employment tax updates: February 2015

The latest developments in employment taxes by our expert David Heaton NIC relief for apprenticeships, SAYE bonuses redefined, PAYE and travel expense schemes and RTI compliance simplification

26 Jan 2015

Law and Regulation

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Tax | Dodwell: interest deductibility problem for third party payments

Plans to change the rules on interest deductibility for third party payments will affect multinational companies in unexpected ways, something which the OECD BEPS reforms appear to ignore, says Bill Dodwell, head of tax policy at Deloitte

26 Jan 2015

International Tax

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Tax | VAT Q&As: registration under transfer of going concern, cash accounting

Julie Green, VAT consultant considers VAT liability under transfer of a going concern rules, reclaims under the cash accounting scheme and gross interest payments on loans from a non-UK based debtor

26 Jan 2015

Tax | EU rules out minimum threshold for VAT rules for digital sales

The European Commission has refused to introduce a VAT threshold for compliance with the new EU-wide VAT rules on digital sales for small and micro businesses, although they may have limited sales to consumers in Europe

23 Jan 2015

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Tax | Super rich hit out at tax burden as non-dom and stamp duty taxes rise

The super rich have warned they will leave the UK if tax rates continue to rise, according to a survey of ultra high net worth (UHNW) individuals who are clients of wealth advisory firm, Virtual Family Office, a group representing people with net wealth in excess of £5m

23 Jan 2015

Tax | Treasury makes overture on orchestra tax relief

In a move which will be music to the ears of the UK’s world famous orchestras, the Treasury has announced a consultation on the details of a new tax relief for orchestral performances first outlined in the Autumn Statement

23 Jan 2015

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