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Tax | Inheritance tax reliefs save UK’s richest £666m a year

Some of the wealthiest families in the UK are benefiting from up to £666m a year in inheritance tax (IHT) reliefs on agricultural land and business property, according to HMRC data obtained by Tax Justice UK

4 Jun 2019

Tax | Disincorporating a business - CPD module

This month’s exclusive Accountancy Daily CPD module will look at the tax pros and cons of disincorporating a business

4 Jun 2019

Tax | Tax data: CGT data, HMRC rates of interest - June 2019

Download the current HMRC CGT indexation allowance applicable from December 2017 onwards, RPI index for April 2019 and HMRC rates of interest, and the current stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

4 Jun 2019

Tax | Tax updates: June 2019

In this month’s tax updates, cases include tax return uncertainty over 'discovery' decision in Tooth case, DIY housebuilder wins VAT refund case in Swales, managed service company status in Costelloe Business Services, plus lifetime giving rules for inheritance tax and HMRC ordered to delete illegally held voice records

3 Jun 2019

Tax | Multinationals face global digital tax rules to collect missing $240bn

The OECD has set a timetable to develop a global framework for the digital taxation of multinationals with 2020 set as a deadline to finalise the rules, which are likely to include a wider remit than just digital tax to capture intangibles and IP

31 May 2019

Tax | France tops list for providing unlawful tax breaks using state aid

The European Commission has issued warnings about more than 380 potentially unlawful tax breaks in the last five years, with France being singled out for contravention of state aid rules, as well as low-tax jurisdictions like Ireland, Netherlands and Luxembourg

31 May 2019

Tax | Shell plans to publish global tax strategy to assuage criticism

Multinational oil giant Shell has told members of the Dutch finance committee that it plans to publish details of its global tax strategy following criticism of how the multinational uses the tax system to minimise tax liability and pays zero tax in the Netherlands, where it is headquartered

31 May 2019

Tax | Funding for EIS and SEIS tax reliefs hits £2.1bn

The number of companies applying to use tax reliefs such as the enterprise investment scheme to attract investors has risen slightly in the last 12 months with over £2.1bn in funding approved as investors look to maximise returns

30 May 2019

Tax | Finance sector at risk of IR35 contractor walkout

More than two thirds (71%) of UK finance firms are considering taking a blanket approach to managing the new IR35 legislation, due to come into force in 2020, as they do not have the time to assess contractors individually, research by Brookson Legal has revealed

29 May 2019

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

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 June 2019 increasing the majority of mileage rates by 1p per mile to reflect higher fuel costs

29 May 2019

Tax | What you need to know: diverted profits tax – part 3

In the final part of our series on the diverted profits tax (DPT), Mark Cawthron LLB CTA, tax writer at Croner-i, assesses how Finance Act 2019 changed the DPT rules and use of the profit diversion compliance facility

29 May 2019

Tax | Lessons from HMRC’s latest IR35 defeats

Following two defeats over IR35, HMRC appears to be struggling to apply the controversial tax rule, but each case should be judged on the facts and the whole picture, warns Caroline Harwood, head of share plans and reward at Crowe

29 May 2019

Tax | Government consults on extension of royalty withholding tax

The government is consulting on draft legislation to extend the scope of royalty withholding tax by charging multinationals income tax on offshore receipts related to intangible property (ORIP) including brands and patents

28 May 2019

Tax | Q&A: corporation tax relief on amortisation of goodwill

In our regular Q&A series, Croner Taxwise adviser Vivienne Cheung explains the qualifying conditions for claiming corporation tax relief on amortisation of goodwill for intangible assets and intellectual property

28 May 2019

Tax | Disincorporation pros and cons: limited company versus sole trader

Stephen Relf ACA CTA examines the pros and cons of setting up a limited company versus operating as a sole trader, and assesses the critical tax compliance issues when planning a disincorporation

22 May 2019

Tax | Call for consolidated turnover tax for sub £1m companies

Companies with revenue under £1m should be given the option to replace corporation tax, business rates, VAT and employer's national insurance (NI) with a simple levy on turnover, charged on a cash basis, says the Centre for Policy Studies

20 May 2019

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Latest news

Tax | Inheritance tax reliefs save UK’s richest £666m a year

Tax | Disincorporating a business - CPD module

Tax | Tax data: CGT data, HMRC rates of interest - June 2019

Tax | Tax updates: June 2019

Tax | Multinationals face global digital tax rules to collect missing $240bn

Tax | France tops list for providing unlawful tax breaks using state aid

Tax | Shell plans to publish global tax strategy to assuage criticism

Tax | Funding for EIS and SEIS tax reliefs hits £2.1bn

Tax | Finance sector at risk of IR35 contractor walkout

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

Tax | What you need to know: diverted profits tax – part 3

Tax | Lessons from HMRC’s latest IR35 defeats

Tax | Government consults on extension of royalty withholding tax

Tax | Q&A: corporation tax relief on amortisation of goodwill

Tax | Disincorporation pros and cons: limited company versus sole trader

Tax | Call for consolidated turnover tax for sub £1m companies