Business Tax

Latest news

Image for online seller tax uproar inaccurate

Tax | Online seller tax uproar ‘inaccurate’

HMRC ‘cannot be clearer’ that the sharing of data between online platforms and HMRC from January 2025 is not the beginning of a new tax

4 Dec 2024

Tax | HMRC side hustler tool to check whether tax owed

HMRC has created a tool to help people running side hustles to work out whether they are liable for income tax on additional earnings

3 Dec 2024

Tax | Q&A: substantial shareholding exemption and tax liablity

In this week’s Q&A, Croner-I tax adviser Rickie Lowery ATT CTA considers whether shareholding is a chargeable gain for corporation tax purposes

26 Nov 2024

Tax | HMRC extends tax agent code disclosure deadline

HMRC has extended the deadline for accountants to provide details of the codes used for self assessment, VAT and corporation tax across their firms

25 Nov 2024

Tax | Fuel duty tax revenue begins downward spiral

With a huge tax grabbing Budget, fuel duty was left alone but the government is already facing declining revenues from car and van drivers

21 Nov 2024

Tax | ‘We have your backs’, says Badenoch to 20,000 farmers

20,000 farmers took to the streets of London today to hear the voices of farmers, MPs and spokespeople outside of No 10

19 Nov 2024

Tax | Q&A: loan to participator tax issue in MBO

In this week’s Q&A, Croner-i tax adviser Ibrahim Nalla explains tricky tax implications of using director loans to part fund management buyout

19 Nov 2024

Tax | HMRC ‘re-argues’ points but loses £3.1m R&D appeal

Collins Construction won a tax dispute over closure notices for over £3m in research and development (R&D) tax relief citing a case from 2021 which HMRC lost

18 Nov 2024

Tax | HMRC turns down two thirds of R&D tax claims

Tougher rules have resulted in 72% of research & development tax relief claims rejected by HMRC, including a third that were initially approved

14 Nov 2024

Tax

Business Tax

HMRC

Image for qa tax and lease payments directors car

Tax | Q&A: tax and lease payments for director’s car

In this week’s VIP Tax Team Q&A, how is tax on lease payments and fuel costs for a director’s vehicle treated under benefits in kind rules when paid through director’s loan account?

12 Nov 2024

Tax | Chancellor defends tax raising as ‘reset Budget’

In the Chancellor’s first appearance before the Treasury Committee, Rachel Reeves defended decision to increase national insurance for employers

8 Nov 2024

Tax | Universities face cash squeeze from employer NI rise

The tuition fee rise may have been a shock to students, but universities may not be better off because of employer’s national insurance and minimum wage increases

8 Nov 2024

Tax | Budget 2024: Charity Gift Aid rules to be strengthened

HMRC is planning to clamp down on charitable tax reliefs claimed through Gift Aid, but not until 2026 to ‘give charities time to adjust to the new rules’

6 Nov 2024

Tax | Private schools use human rights law to challenge VAT

The Independent Schools Council is gearing up to fight the decision taken by Labour to charge VAT on private school fees from 1 January 2025

4 Nov 2024

Business | Employer NI hike will hit wages, admits Chancellor

Chancellor Rachel Reeves was forced to defend the decision to increase employer’s national insurance to 15%

1 Nov 2024

Tax | Budget 2024: tougher tax rules for crypto currency buyers

Investors in cryptocurrency will face greater scrutiny as the government confirms UK introduction of Crypto-Asset Reporting Framework (CARF) to share trading data

1 Nov 2024