Tax

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Tax | OECD consults on future of Permanent Establishment status

The Organisation for Economic Co-operation and Development (OECD) has released a discussion draft on how to prevent the artificial avoidance of permanent establishment (PE) status for comment by 9 January 2015

4 Nov 2014

Tax | Professional bodies slate new strict liability offence

The Law Society has criticised the latest HMRC consultation on creating a new criminal offence for offshore tax evasion, warning that the UK's complex tax code - spanning more than 30,000 pages - could give rise to breaches of the principle of a right to a fair trial

4 Nov 2014

Tax | HMRC to spend £40m implementing Scottish Rate of Income Tax (SRIT)

Senior HMRC officials have told MPs they are confident that the department will be able to administer the new Scottish rate of income tax (SRIT) efficiently, despite its current reductions in headcount, with £40m allocated to implementing the new system over the next five years

4 Nov 2014

Tax | Inheritance law changes hit tax planning

Changes to inheritance law make it even more important to make a will as tax obligations are emphasised and there is a potential hike in IHT liability, warns Lindsey Howland, partner at Knights LLP

4 Nov 2014

Tax

Personal Tax

Tax Planning

Tax | VAT updates: November 2014

Graham Elliott, VAT expert at Withers Worldwide assesses recent VAT judgments and asks whether the authority of the First Tier Tribunal is being questioned in recent decisions over complaints against HMRC , while Skandia and Huddersfield cases raise questions over procedural issues

3 Nov 2014

Tax | Employment tax updates: November 2014

A round-up of major tax developments from our employment tax expert, Baker Tilly's Lesley Fidler, including the PAYE impact of changes to parental rights and unpaid leave, RTI penalties and the continuance of lower rate benefits in kind

3 Nov 2014

Tax | Tax updates: November 2014

This month's roundup of the landmark tax cases including Coulter trust decision on charitable status and annual investment allowance dispute for SMEs, new FATCA online services, Ireland set to outlaw double Irish tax policy by 2020 and AbbVie pulls out of Shire meger plan citing tax jurisdiction issues

3 Nov 2014

Tax | HMRC updates tax advisers on Agent Online Self Serve project

HMRC has provided an update on the next steps in the Agent Online Self Serve (AOSS) project which will allow agents to view PAYE liabilities and payments

31 Oct 2014

Tax | Bank-basher Russell Brand raises film finance from City

Arch anti-capitalist comedian Russell Brand, who has previously called for an ‘orgy’ of bank bashing in the wake of the financial crisis, will see his next film financed by £1m raised from a group of City-based investors who will benefit from tax breaks through the enterprise investment scheme (EIS)

31 Oct 2014

Tax | Sainsbury’s ex chief exec warns business to pay tax

Justin King, former chief executive of Sainsbury, has told top blue chip company chiefs that consumers would eventually punish businesses that didn’t behave well, especially where tax is concerned

31 Oct 2014

Tax

Business Tax

Tax Compliance

Leadership & Management

Companies

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Tax | UK’s 17,000 page tax code should be burned – ICAEW

Senior tax experts and MPs lambasted the UK’s tax code, which is now 17,000 pages long, compared to the 11,500 pages it was in 2007

31 Oct 2014

Tax | EC sets out options for overhaul of EU VAT system

The European Commission (EC) has published a paper presenting its first ideas on how to redesign the VAT system to ensure a simpler, more effective and more fraud-proof VAT system tailored to the Single Market in the EU

30 Oct 2014

Tax | Patent Box under fire at PAC tax conference

The UK government's tax policies came under fire at the Public Accounts Committee's (PAC) tax conference, for sending out signals that some tax reliefs are incentives for business while being simultaneously questioned in other jurisdictions

30 Oct 2014

Tax | BEPS is not 'anti-business' - OECD

In a bid to reassure business leaders and tax experts gathered at the Public Accounts Committee's (PAC) tax conference today, Grace Perez-Navarro, deputy director at the OECD, has said the organisation's action plan to reform global tax rules 'is not an anti-business agenda'

30 Oct 2014

Tax

International Tax

Tax Planning

Tax | Large non-exempt Unauthorised Unit Trusts may need to pay tax quarterly

HMRC has issued a reminder that following recent changes to the Unauthorised Unit Trust (UUT) tax regime, a large non-exempt UUT, now within the charge to corporation tax, may be due to start paying its tax by quarterly instalments

30 Oct 2014

Tax

Business Tax

Tax Compliance

Tax | HMRC issues latest DOTAS affected by accelerated payment notices

HMRC has updated the issue briefing on accelerated payments, first published in July 2014, to include an updated list (as at October 2014) of tax avoidance schemes on which users may be charged an upfront tax payment (ie, an accelerated payment)

30 Oct 2014