Business Tax

Latest news

Image for simplification tax return amendment process planned

Tax | Simplification of tax return amendment process planned

The government is planning to review the complicated process for amending tax returns to make it more transparent and easier for taxpayers to use, with a possible move to a single digital tax amendment service

7 Nov 2018

Tax | Construction sector faces VAT reverse charge

The government has published draft legislation detailing a new VAT domestic reverse charge for certain building and construction services, which will take effect from 1 October 2019 and is designed to clamp down on missing trader fraud

7 Nov 2018

Tax | CIOT criticises Budget for lack of coherence

CIOT has expressed concerns about the way that last week’s Budget was delivered, noting the lack of prior consultation and the number of measures announced as completed with little opportunity to explore their scope and operation

7 Nov 2018

Tax | Actors call for tax relief to boost diversity in TV and film

Sir Lenny Henry, as well as other prominent TV and film stars, are calling for tax relief for production companies to encourage them to employ women, disabled individuals and people from black, Asian and minority ethnic (BAME) backgrounds

7 Nov 2018

Tax | Oury: did Brexit or tax trigger the Unilever decision?

When Unilever decided to keep its global headquarters in the UK, many jumped on the decision as a boost for Brexit but tax jurisdiction matters are the more likely reason. Andrew Oury, partner at Oury Clark, considers the tax issues

7 Nov 2018

Tax | HMRC chases GE for $1bn tax shortfall

General Electric has filed documents with the Securities and Exchange Committee (SEC) revealing that HMRC is investigating it for an alleged $1bn (£770m) shortfall in tax paid between 2004 and 2015

7 Nov 2018

Tax | HMRC delays late payments penalty reforms

Planned reforms to HMRC’s penalty regimes for late submission and payment of tax due are to be further delayed while the department considers how best to communicate the changes, with papers published following the Budget indicating there are unlikely to be any change before April 2021 at the earliest

5 Nov 2018

Tax | Overdue VAT reaches five-year high

There has been a 22% rise in the value of unpaid VAT owed to HMRC by UK businesses to £3bn, up from £2.48bn the previous year, as late payments leave businesses with cashflow difficulties

5 Nov 2018

Tax | Disputed tax from big business hits £27.8bn

Figures released today show that the amount of underpaid tax in dispute with the UK’s 2,000 largest businesses increased to £27.8bn in 2017/18, a 12% increase on the previous year, as HMRC steps up its investigative activity

5 Nov 2018

Tax | Budget 2018 briefing: key measures at a glance

In our roundup of Budget 2018 essentials, we review the key tax measures for businesses and individual taxpayers, from a time-limited hike in annual investment allowance to £1m, retention of entrepreneurs’ relief, frozen VAT threshold, a digital services tax for tech giants and an unexpected increase in the personal allowance

2 Nov 2018

Tax | ‘Cracks showing’ in HMRC performance under Brexit pressures

MPs are warning 'cracks are showing' as HMRC seeks to manage a ‘daunting’ workload in advance of Brexit, with mounting concerns about the possible impact of delays introducing its new customs system on businesses adapting to a new VAT regime

2 Nov 2018

Tax | Denning: US may strike back at digital services tax

Chris Denning, head of international and corporate taxation at MHA MacIntyre Hudson, suggests that the US might retaliate against the UK’s digital services tax introduced in the Autumn Budget

2 Nov 2018

Tax | Budget 2018: key tax changes for businesses explained

Cathy Corns, partner at Mercer & Hole analyses the key Budget announcements affecting businesses from changes to capital allowances for capital spend, to R&D tax relief and the increase in the annual investment allowance

1 Nov 2018

Tax | Bostock: Budget gives tax breaks for business before Brexit

Nigel Bostock, Crowe UK chief executive, looks at the business tax relief measures contained in the Chancellor’s Autumn Budget 2018 and how these could stimulate economic growth in this uncertain pre-Brexit period

1 Nov 2018

Tax | Tax updates: November 2018

This month's review of tax cases and tax news including penalties determined by HMRC computers ruled invalid, HMRC launches full blown MTD VAT trial, CGT entrepreneurs’ relief denied as voting rights held for less than a year

1 Nov 2018

Tax | Budget 2018: Q&A on entrepreneurs’ relief changes

In Budget 2018, the Chancellor set out plans to make a number of changes to entrepreneurs’ relief, from the definition of a personal company to extending the qualifying conditions. John Riseborough, tax adviser at Croner Taxwise, examine the compliance issues

31 Oct 2018