Business Tax

Latest news

Image for hmrc stops use personal credit card pay employer paye penalties

Tax | HMRC stops use of personal credit card to pay employer PAYE penalties

Employers will not be able to use personal credit cards to settle outstanding PAYE late payment penalties, PAYE settlement agreements or Construction Industry Scheme (CIS) late filing penalties from January 2018

11 Oct 2017

Tax | MacKay: will HMRC's tax support service for mid-sized businesses work?

Businesses turning over upwards of £10m or with 20 or more employees will have access to help with tax queries about their growing business under HMRC's new plans. Jane MacKay, head of tax at Crowe Clark Whitehill, asks whether this growth support service targeted at mid-sized businesses will work

11 Oct 2017

Tax | Transfer pricing: intellectual property and intercompany charges

Companies risk millions in fines by not complying with transfer pricing rules on intercompany charges and licensing fees for intellectual property paid to local trading subsidiaries. Ken Almand, partner and UK head of transfer pricing at RSM and Paul Sutton, founder, LCN Legal, explain the essentials for TP tax compliance

11 Oct 2017

Tax | European Commission gets go-ahead to improve tax dispute rules

The European Commission has been granted permission from EU member states to introduce rules to improve tax dispute resolution as well as cover issues relating to double taxation which can be a major obstacle for businesses

10 Oct 2017

Tax | Hyde: diverted profits tax and advance pricing arrangements

The diverted profits tax may have raised £281m in tax revenue in the first full year of operation, but it is proving a challenge for companies. Ian Hyde, tax partner at Pinsent Masons considers the interaction of DPT with advance pricing arrangements (APAs)

10 Oct 2017

Tax | MPs call for protection of £30K tax-free redundancy bonus cap

MPs have laid an amendment to Finance Bill (No.2) to ensure that the Treasury will not be able to reduce the £30,000 cap on redundancy bonus payments without consultation

9 Oct 2017

Tax

Business Tax

Personal Tax

Image for airbnb pays ps190k corporation tax ps650m uk sales

Tax | Airbnb pays £190k corporation tax on £650m in UK sales

Accommodation sharing website Airbnb is the latest hi tech giant to find its UK tax arrangements under scrutiny, after it emerged the company paid just £188,000 in corporation tax last year despite collecting £657m of rental payments for property owners

9 Oct 2017

Tax | Over £400m of R&D tax credit claims in dispute

The amount of tax HMRC is disputing with big businesses over research and development (R&D) tax credit claims has nearly quadrupled in the past year, up from £90m to £425m, according to analysis by Pinsent Masons

9 Oct 2017

Tax | Cereal producer Kellogg’s paid no corporation tax in 2016

Cereal giant Kellogg’s paid no corporation tax in the UK in the year to 31 December 2016 despite making approximately a combined £40m in profit across two of the brand’s UK companies

6 Oct 2017

Tax

Business Tax

International Tax

Image for bull uk tax base becoming too narrow

Tax | Bull: UK tax base becoming too narrow

The country’s tax base is becoming too small and is causing yields to suffer, says RSM senior tax partner George Bull, who is calling for a rethink to help the public purse recover

6 Oct 2017

Tax | OTS review of capital allowances and accounts depreciation launched

The Office of Tax Simplification (OTS) has kicked off a review of capital allowances and accounts depreciation with a focus on simplifying the currently hugely complex treatment of tangible fixed assets, and is calling for feedback from users

5 Oct 2017

Tax

Business Tax

Consultations

Image for free software making tax digital not viable says xero

Tax | Free software for Making Tax Digital not viable, says Xero

Accountancy software provider Xero has said providing free programmes for Making Tax Digital quarterly reporting is not practical and should not be expected as the costs to build the software and provide a good service to taxpayers are too high, reports Amy Austin

5 Oct 2017

Tax | Newcastle United loses challenge over HMRC raids

Premier League side Newcastle United has lost a High Court challenge over a raid carried out at club offices by tax officials probing the finances of several football clubs

4 Oct 2017

Tax | Ireland referred to ECJ after failure to collect €13bn Apple tax

Ireland has been referred to the European Court of Justice (ECJ) after failing to collect €13bn (£11.5bn) from US technology giant Apple

4 Oct 2017

Tax | Amazon ordered to pay €250m in back taxes after EU ruling

Global online retailer Amazon has been ordered to pay €250m (£221m) after the European Commission ruled a decision taken by the courts in Luxembourg amounted to illegal state aid

4 Oct 2017

Tax | OTS to examine use of IT to simplify tax system

The Office of Tax Simplification (OTS) is to look at how advances in IT could simplify the design or administration of the tax system, particularly as Making Tax Digtal forces exclusive digital reporting and Blockchain currencies go more mainstream

4 Oct 2017