Business Tax

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Tax | Q&A: excluded income and dividends

In our regular Q&A series from Croner Taxwise, tax adviser, Ghulam Mustafa assess the income tax liability of a non-resident who receives UK dividends from their investments

3 Mar 2020

Tax | VAT updates: March 2020

In this month’s VAT updates, Graham Elliott considers charity construction relief in Marlow Rowing Club, HMRC’s reaction to the News Corp decision and the supply of medics in Archus Trading Ltd

2 Mar 2020

Tax | Tax filing deadlines: Mar - Jun 2020

The key HMRC filing deadlines including payment of outstanding income and capital gains tax for 2018-19 personal tax returns and corporation tax fourth quarterly instalment payment

2 Mar 2020

In this month’s round up of tax news, TV presenter Eamonn Holmes loses IR35 appeal, accountant loses goodwill dispute with HMRC, Vodafone faces £5.4bn Indian tax bill, Sports Direct swerves Belgian VAT charge and IR35 soft landing penalties

2 Mar 2020

Tax | Sophos sale nearly punctured by salary sacrifice bike scheme

The sale and delisting of IT cybersecurity giant Sophos was delayed momentarily earlier this week over a last minute glitch over a subsidiary’s cycle to work tax-free scheme

28 Feb 2020

Tax | Accountant loses appeal over £1.2m goodwill claim

An accountant has been left facing a potential £431,400 tax bill after losing a case at First Tier Tribunal (FTT) over a claim for goodwill on the sale of his business, with HMRC arguing it did not exist

26 Feb 2020

Tax | HMRC challenged over anachronistic credit card ban

HMRC has been accused of being ‘out of step’ with other large commercial organisations over its ban on the use of credit cards by individuals to pay their tax bills, leaving some unable to pay and facing penalties

25 Feb 2020

Tax | Q&A: VAT and healthy staff perks

In our regular Q&A series from Croner Taxwise, VAT advice consultant, Sally Atkins, looks at the VAT implications of paying for staff gym memberships and subsidised healthy meals

25 Feb 2020

Tax | HMRC advisory fuel rates for company car users from 1 March

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2020 cutting mileage rates for diesel and petrol vehicles with 2000cc or more by 1p per mile

24 Feb 2020

Tax | Chancellor promises lenient penalties for IR35

The Chancellor, Rishi Sunak has reassured contractors that HMRC will not be ‘heavy handed’ on penalties during the first year of IR35 implementation

24 Feb 2020

Tax | HMRC targets ultra-rich £700bn assets

HMRC has set up a specialist team to probe the tax affairs of ultra-high net worth individuals, as it extends efforts to crackdown on possible tax avoidance by some of the UK’s wealthiest families

24 Feb 2020

Tax | Entrepreneurs’ relief should support start-up not sell-up

Entrepreneurs’ relief should be reshaped to inspire budding entrepreneurs rather than acting as a way to top up pension pots, argues Phil Hall, head of public affairs, AAT

24 Feb 2020

Tax | OECD consults on reporting rules for online platform sales

The OECD plans to develop a single set of reporting rules for countries to use to collect information about sales made via online platforms to assist future tax collection

24 Feb 2020

Tax | MTD threat to farmers, warns CLA

The Country Land and Business Association (CLA) is calling for an overhaul of the tax system for rural businesses particularly in light of Making Tax Digital for income tax plans

19 Feb 2020

Tax | Government fails to monitor £155bn doled out in tax reliefs

Tax reliefs introduced to support government economic and social objectives now cost £155bn a year, but the HMRC and the Treasury are failing to monitor and evaluate the spiralling costs, and need to make substantial progress in improving how these are managed

17 Feb 2020

Tax | HMRC information notices: resistance is futile?

A dispute between a taxpayer and HMRC over the format of tax data provided for an information notice for disclosure under schedule 36 of Finance Act 2008 could only be resolved at a tax tribunal. Neil Tipping, senior tax consultant at Croner Taxwise, examines the issues

13 Feb 2020