The First Tier Tribunal (FTT) decision in Zipvit (TC03773) is so significant that one might have thought it would have gone straight to the Upper Tribunal, writes Graham Elliott, transaction tax consultant at Withers Worldwide
The representative body for games developers and digital publishers, TIGA, is lobbying EU policy makers to exempt small businesses from new EU VAT regulations which require sellers to account for VAT rates in member states where purchases are made rather than where the business is based
Two Derbyshire men who colluded in fraudulent attempts to claim over £205,000 in tax repayments have received jail sentences following an HMRC investigation
The latest Cabinet reshuffle, announced by prime minister David Cameron as a move to shake up his top team ahead of the election next year, sees David Gauke, Exchequer secretary to the Treasury, promoted to financial secretary at the Treasury.
The volume of uncollected government debt is dominated by a £15.1bn black hole of overdue taxes and tax credits which remain uncollected by HMRC despite efforts to hire private debt collectors and attempts to write off long-standing debts.
Tax advisers who are deemed to be ‘high risk promoters’ under new HMRC rules could face fines of up to £1m for falling to make their status clear, under proposals laid out in the Finance Bill which introduce a series of penalties for both advisers and clients involved with aggressive tax avoidance schemes
The European Commission (EC) is setting up an expert group on the automatic exchange of financial account information (AEFI Group) and has launched a call for applications for the new group.
At a heated debate on the extension of HMRC powers, tax advisers objected strongly to plans to introduce new powers for HMRC to collect unpaid tax, with particular antipathy to the proposed direct recovery of debt (DRD) proposals, which they claim have simply been dusted off and resubmitted after they were rejected by the last government six years ago.
The majority of tax professionals and accountants reject HMRC's plans to take funds directly from taxpayers' bank accounts to recover outstanding tax debts.
Over a thousand celebrities and senior business figures are facing a £520m tax bill as HMRC starts to demand immediate upfront payment of disputed tax demands relating to investments in alleged tax avoidance schemes.
The government is consulting on plans to give HMRC sweeping powers to recover debts directly from individuals' and businesses' bank accounts, but are the moves too draconian? Meg Wilson, tax expert at CCH, analyses the proposals and outlines potential pitfalls to a policy shift which has been met with strident opposition from MPs to professional institutes
With the UK adoption of US Foreign Account Tax Compliance Act (FATCA) rules, UK trusts and trustees must reconsider their status and ensure they are totally compliant with the new US regime of tax disclosure, says George Hodgson, deputy chief executive of the Society of Trust and Estate Practitioners (STEP)
HMRC has confirmed that businesses will be able to use telephone filing for VAT returns in exceptional circumstances, following a technical consultation this spring, when they do not have access to online filing options due to broadband issues or disability
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