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Tax | Half of Irish corporation tax take at risk from US tax plans

Ireland risks losing half of its €11.8bn (£10.1bn) annual income from corporation tax if a new minimum global rate is pushed through by the US and EU

14 May 2021

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Business Tax

International Tax

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Tax | Treasury launches review into Office of Tax Simplification

The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS), the body tasked with proposing ways to simplify the overly complex UK tax system

13 May 2021

Tax | £200 per ton rate set for plastic packaging tax

The government has confirmed that the new plastic packaging tax (PPT) will be coming into force 1 April 2022, raising nearly a billion pounds in tax by 2025

12 May 2021

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Business Tax

Tax Planning

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Tax | HMRC received 91,000 fraud tip-offs in first few months of pandemic

HMRC’s fraud hotline received more than 91,000 calls during the first nine months of the Covid-19 pandemic, with concerns that furlough fraud is likely to be behind many of the calls

11 May 2021

Tax | Digital tax, no effect on SMEs?

As global tech companies get to grips with the digital services tax, Guillermo Narvaez, technical director of the Kreston Global Tax Group, asks whether the cost of tax will be handed on to smaller businesses

11 May 2021

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Business Tax

International Tax

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Tax | Super deduction capital allowance - take it to the limit

Peter Rayney reviews the new 130% super deduction capital allowance rules introduced in the Budget 2021 explaining the potential complexities in applying them

6 May 2021

Tax | Filing deadlines: May to June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from cut-off for employers to give 2020/21 P60 forms to each employee who was working for them at 5 April 2021 and deadline for opting into the VAT deferral new payment scheme

5 May 2021

Tax | Treasury consults on plans for residential property developer tax

The Treasury has released a consultation on plans to introduce a residential property developer tax on certain profits from residential development activity, designed to raise £2bn

30 Apr 2021

Tax

Business Tax

Consultations

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Tax | HMRC to demand crypto holdings data from taxpayers

HMRC is to begin collecting data on holdings of cryptocurrencies from taxpayers it suspects of tax evasion and avoidance, claims UHY Hacker Young

29 Apr 2021

Tax | Scotland would likely see tax rises after independence

A study by the Institute for Government (IFG) says Scotland would have to make ‘difficult fiscal adjustments’ if they went independent and would be forced to impose spending cuts and tax rises to balance the books

28 Apr 2021

Tax | The unallowable purpose rule and loan relationships

Glyn Fullelove, tax writer at Croner-i, considers the importance of the unallowable purpose test for loan relationships in the light of updated HMRC guidance and recent cases

28 Apr 2021

Tax | PAC criticises Treasury on lack of environmental tax plans

The Public Accounts Committee (PAC) has criticised the Treasury as it has yet to set out how the tax system can help government achieve the UK’s net zero target by 2050

28 Apr 2021

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Business Tax

Politics

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Tax | Q&A: fair value adjustments and tax

In our weekly Q&A, Croner Taxwise tax advisor Seb Lord assesses the tax liability for intercompany loans where an investment property has devalued

27 Apr 2021

Tax | Penalties for failures on country-by-country reporting capped at £3k

HMRC has issued guidance setting out the penalty regime for companies failing to follow country-by-country reporting rules

26 Apr 2021

Tax | Annual tax take down nearly 8% due to pandemic

The pandemic has taken a toll on tax revenues as the latest figures show total tax receipts for the tax year 2020 to 2021 are £584.3bn, a significant £49.1bn lower than in the same period a year earlier

23 Apr 2021

Tax | OECD director of tax expects global corporate tax deal this year

Global corporation tax talks are likely to lead to a deal this year says director for tax policy at the Organisation for Economic Cooperation and Development (OECD)

22 Apr 2021

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Latest news

Tax | Half of Irish corporation tax take at risk from US tax plans

Tax | Treasury launches review into Office of Tax Simplification

Tax | £200 per ton rate set for plastic packaging tax

Tax | HMRC received 91,000 fraud tip-offs in first few months of pandemic

Tax | Digital tax, no effect on SMEs?

Tax | Super deduction capital allowance - take it to the limit

Tax | Filing deadlines: May to June 2021

Tax | Treasury consults on plans for residential property developer tax

Tax | HMRC to demand crypto holdings data from taxpayers

Tax | Scotland would likely see tax rises after independence

Tax | The unallowable purpose rule and loan relationships

Tax | PAC criticises Treasury on lack of environmental tax plans

Tax | Q&A: fair value adjustments and tax

Tax | Penalties for failures on country-by-country reporting capped at £3k

Tax | Annual tax take down nearly 8% due to pandemic

Tax | OECD director of tax expects global corporate tax deal this year