Business Tax

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Tax | Coronavirus: essential updates for accountants, tax advisers and auditors - Part 2

To assist accountants, tax advisers and auditors in dealing with the coronavirus crisis, all our related covid-19 coverage will be available here as soon as new announcements are made, plus expert analysis

17 Nov 2020

Leadership & Management

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Tax | Plans for professional indemnity insurance for tax advisers

The government is to consult on plans to make professional indemnity insurance compulsory for tax advisers in an effort to raise standards in the tax advice market

17 Nov 2020

Tax | Q&A: Christmas party tax exemption

In our regular Q&A series, Croner Taxwise, payroll adviser, Samantha O'Sullivan explains whether businesses are able to utilise the £150 exemption at another point in the year, with office Christmas parties looking doubtful with coronavirus restrictions

17 Nov 2020

Tax | Making Tax Digital for corporation tax by 2026

Among the recent crop of tax policy announcements, HMRC is consulting on how the principles established for Making Tax Digital for quarterly online filing could be implemented for corporation tax

16 Nov 2020

Tax | Tax and the farmer: natural capital, biodiversity and rewilding

Accounting and tax treatment of eco-projects, biodiversity net gain income streams and new subsidies will be essential for all areas of farm tax and succession planning

13 Nov 2020

Tax | OTS spearheads call for CGT overhaul

The Office of Tax Simplification (OTS) is recommending aligning capital gains tax (CGT) rates with income tax and sharply reducing the annual exempt amount in order to increase tax revenues and create a more equitable tax regime

12 Nov 2020

Tax | Q&A: changes to the rules for movement of goods

In our regular Q&A series, Croner Taxwise, VAT adviser, Tony Chamberlain, explains how the impending changes to the rules concerning movement of goods across the EU will affect UK businesses

10 Nov 2020

Tax | HMRC to act over insurance premium ‘value shifting’

HMRC is consulting on proposals intended to improve the operation of insurance premium tax (IPT), making it easier for both the industry and HMRC to administer, and addressing certain types of avoidance and evasion

10 Nov 2020

Tax | Airbnb hosts must act now to avoid HMRC probe

As the online short-term rental giant passes its user data to the tax authority, RSM’s Sarah Saunders says amateur renters should have nothing to fear if they use reliefs and follow the rules carefully

9 Nov 2020

Tax | Brexit and VAT pt2: tour operators, online sales and overseas marketplaces

In the second of a two-part series, Croner-i tax writer Sarah Kay looks at some of the less well publicised VAT consequences of the UK leaving the EU on 31 December 2020, including the tour operators margin scheme, online sales and overseas marketplaces

5 Nov 2020

Tax | VAT updates: October 2020

In this month’s round up of VAT cases, Graham Elliott considers VAT on imports after 1 January 2021, the end of the retail export scheme, undisclosed partnerships, roof insulation and Covid-19 payment holidays

2 Nov 2020

Tax | Trusts tax take up by 7% to reach £3bn mark

HMRC’s annual statistics show that while the number of trusts and estates continues to fall, their income has increased, and the total tax bill is up by 7%

2 Nov 2020

Tax | Businesses warned on drop in annual investment allowance

Businesses considering the purchase of capital equipment need to think quickly or risk missing out on significant amounts of tax relief over the next few years, the Association of Taxation Technicians (ATT) is warning

29 Oct 2020

Tax | Brexit and VAT pt1: mini one stop shops, tourism and VAT refunds

In the first of a two-part series, Croner-i writer Sarah Kay reviews a number of the less well publicised Brexit consequences for UK businesses trading in the EU, including the impact of mini one stop shops, tax free shopping for tourists and EU VAT refunds

29 Oct 2020

Tax | Property developer ‘plays a blinder’ on VAT claim

HMRC looks set to change its guidance after a property developer won a case at a First Tier tribunal (FTT) challenging the VAT rating for window blinds installed in new homes

28 Oct 2020

Tax | Call for changes to ‘inflexible’ business rates

A third of companies say they need government support to survive the next six months, with a similar proportion expecting to make redundancies according to ICAEW, which is calling for changes to business rates and targeted help to limit the economic damage of Covid-19

27 Oct 2020