Business Tax

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Tax | VAT updates: August 2020

In this month’s VAT updates, Graham Elliott reviews uncertainty in EU distance selling ruling, the importance of checking customers’ residency, rent variations and electronic literature

1 Sep 2020

Tax | Regulating advisers will reduce R&D tax relief abuse

As HMRC concludes consultation on the abuse of research & development tax relief at the end of August, ABGI-UK’s Scott Henderson calls for the regulation of advisers at a time when the UK needs to be globally competitive

27 Aug 2020

Tax | £9bn in corporation tax overpaid by UK businesses last year

UK businesses overpaid at least £9.1bn in corporation tax in the last year (year end 31 March), up 12.4% from £8.1bn the previous year, said UHY Hacker Young

26 Aug 2020

Tax | Non-dom tax rules begin to bite

With falling numbers and tax receipts, Crowe’s Richard Bull analyses the latest non-dom figures and questions how the government could replace urgently needed tax income

26 Aug 2020

Tax | Facebook pays €106m in back tax to France

Facebook’s French subsidiary has agreed to pay €106m (£95.7m) in back taxes following a ten-year audit of its accounts by the French tax authorities

25 Aug 2020

Tax | Q&A: VAT impact on vouchers

In our regular Q&A series from Croner Taxwise, VAT adviser, Priyesh Mistry defines the impact of the temporary rate change on the issue of face value vouchers, when the VAT will be due and at what rate

25 Aug 2020

Tax | Call to reform CGT rules for divorcing couples

Accountancy firm Milsted Langdon, has joined family law organisation, Resolution, in calling for reforms to the capital gains tax (CGT) system - making it fairer and simpler by introducing a general relief for asset transfers arising for divorcing couples

21 Aug 2020

Tax | Over £1bn of tax reliefs for creative sector

HMRC statistics reveal a total of £1.11bn was paid out in tax reliefs in 2019/20 for the creative sector, up by £30m on the previous year

19 Aug 2020

Tax | Q&A: gift relief on appreciated assets

In our regular Q&A series, Croner Taxwise adviser Vivienne Cheung clarifies how gift relief can be applied when handing over an asset which has increased in value, how will this affect the capital gains tax levied on the gift?

18 Aug 2020

Tax | HMRC ‘plea bargain’ tax evader deals collect extra £120m

Plea bargain deals give taxpayers immunity from criminal investigations as HMRC steps up investigations to help pay for coronavirus economic assistance

17 Aug 2020

Tax | CGT take hits record £9.5bn

HMRC raised a record £9.5bn of capital gains tax (CGT) in 2018-19, up by 6% on the previous year, with most of the tax raised paid by the small number of taxpayers who make the largest gains

17 Aug 2020

Tax | OTS plans public webinar in September

The Office of Tax Simplification (OTS) is holding a public webinar next month to mark its tenth anniversary, covering its past and future contributions to the development of tax policy

17 Aug 2020

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Tax | CGT: review threat leads to disposals

As the Office of Tax Simplification examines capital gains tax reliefs, many are considering selling up now ahead of any change, Forsters partner Guy Abrahams explains

13 Aug 2020

Tax | Finance Bill 2020-21: legislation and consultations announced

On 21 July, the government released draft legislation for this year's Finance Bill, plus details of the consultations first trailed at the Spring Budget, Accountancy Daily has consolidated these announcements with full details below

7 Aug 2020

Tax | Amazon hikes UK seller fees in response to digital services tax

Online marketplace Amazon is to increase fees for UK sellers next month by 2%, in response to the introduction of the UK’s digital services tax (DST), in a move which is likely to increase costs for small businesses and traders who use the platform

6 Aug 2020

Tax | HMRC’s let property campaign yield below expectations

An HMRC campaign targeted at increasing the tax take from properties which are let out is making slow progress, so far producing under a third of the yield expected, and with only a handful of landlords coming forward to make a disclosure, according to analysis by Saffery Champness

6 Aug 2020