Business Tax

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Image for bull are tax policy and populism pulling opposite directions

Tax | Bull: are tax policy and populism pulling in opposite directions?

Announcing unexpected tax changes on Budget day without prior consultation will always be open to public opposition, as has been seen in the past with the majority of unwelcome taxes being abolished just days later, explains George Bull, senior tax partner at RSM

4 Jul 2018

Image for last minute tips completing p11ds expenses and benefits

Tax | Last minute tips for completing P11Ds for expenses and benefits

Meg Wilson CTA gives some last minute tips on how to finalise reporting employee benefits and expenses for 2017-18 P11D and P11D(b) forms as the deadline approaches on 6 July

3 Jul 2018

Image for tax chiefs set j5 tackle international tax crime

Tax | Tax chiefs set up J5 to tackle international tax crime

HMRC has formed an alliance with tax enforcement bodies in four countries to share intelligence and expertise in the battle against international tax crime

2 Jul 2018

International Tax

Image for hmrc shuts down record 20000 fake websites

Tax | HMRC shuts down record 20,000 fake websites

There has been a 29% hike in the number of malicious websites which HMRC has asked to be removed following a spate of scams involving fake emails and texts

2 Jul 2018

Image for tax employee perks hits record ps33bn

Tax | Tax on employee perks hits record £3.3bn

The value of tax that employees have had to pay on their job perks is up by 18% in the last year, up from £2.8bn in 2015/16 to £3.3bn in 2016/17, with company car and van drivers hard hit

29 Jun 2018

Image for global tax gdp ratio hits 26 says oecd

Tax | Global tax to GDP ratio hits 26%, says OECD

The OECD has created a global database revealing the level of tax paid in comparison to GDP in 80 countries globally with the median tax-to-GDP ratio worldwide hitting 26.2%

29 Jun 2018

International Tax

Image for dodwell jp whitter loses cis appeal supreme court

Tax | Dodwell: JP Whitter loses CIS appeal at Supreme court

Bill Dodwell CTA (Fellow), former partner and head of tax policy at Deloitte, considers the implications of JP Whitter's construction industry sub-contractor scheme (CIS) appeal loss at the Supreme Court

28 Jun 2018

Image for profit extraction how flexible are directors loans terms tax liability

Tax | Profit extraction: how flexible are directors’ loans in terms of tax liability?

Stephen Relf CTA ACA examines potential tax pitfalls for owner managed businesses when they use directors’ loans instead of conventional salary structures, from outstanding loans to repayment terms

27 Jun 2018

Law and Regulation

Image for tuc and timpsons given fair tax mark

Tax | TUC and Timpsons given Fair Tax Mark

The Trades Union Congress (TUC) and Timpson were both accredited this week with a Fair Tax Mark as research reveals that the public would rather do business with companies and organisations that demonstrate a commitment to paying their fair share of tax

25 Jun 2018

Image for oecd updates advice hard value intangibles

Tax | OECD updates advice on hard-to-value intangibles

The OECD has released new guidance on the application of the approach to hard-to-value intangibles and the transactional profit split method, which were both developed as part of its base erosion and profit shifting (BEPS) action plan

22 Jun 2018

International Tax

Image for us supreme court rules taxing remote online sales

Tax | US Supreme Court rules for taxing remote online sales

The US Supreme Court has handed down a ruling that online retailers can be required to collect local sales taxes even in states where they have no physical presence, in a move which is designed to level the playing field with bricks-and-mortar businesses

22 Jun 2018

International Tax

Image for luxembourg deal meant french companys tax rate was 03

Tax | Luxembourg deal meant French company’s tax rate was 0.3%

The European Commission is demanding Luxembourg recover €120m (£105.5m) in unpaid tax after discovering it allowed two companies in a French utilities group to avoid paying taxes on almost all their profits for about a decade, which it says is illegal under EU state aid rules

21 Jun 2018

International Tax

Image for extra nhs funding will see taxes increase

Tax | Extra NHS funding will see taxes increase

The government’s announcement that the NHS is to receive increased funding of £20.5bn per year by the end of five years, has signalled future tax increases, with the Prime Minister promising these will be imposed in a ‘fair and balanced way’

20 Jun 2018

Image for supreme court confirms rules withdrawal cis gross payment status

Tax | Supreme Court confirms rules of withdrawal of CIS gross payment status

HMRC is able to cancel a company’s gross payment status for the purposes of the construction industry scheme (CIS) without considering whether it would have a seriously detrimental effect on the business, the Supreme Court has decided

18 Jun 2018

Image for ots calls widening annual investment allowance

Tax | OTS calls for widening of annual investment allowance

The Office of Tax Simplification (OTS) has published a review on simplifying tax relief for fixed assets, exploring the impact and issues involved in replacing capital allowances with accounting depreciation

18 Jun 2018

Image for ps33bn tax gap shows avoidance activity decline

Tax | £33bn tax gap shows avoidance activity in decline

Latest HMRC figures show an estimated £33bn tax gap in the UK in 2016-17, amounting to 5.7% of total theoretical tax liabilities and the same level as the previous year, with small businesses responsible for 41% of the tax not collected

15 Jun 2018

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Q&A: tax on property business profits

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