Business Tax

Latest news

Image for briefing making tax digital essentials

Tax | Briefing: Making Tax Digital essentials

As HMRC aims for the launch of Making Tax Digital in April 2018, CCH Daily assesses the key developments, timetable and compliance costs, House of Lords criticism of mandation and concerns over readiness of software developers to be up and running in time for the start date

27 Feb 2017

Making Tax Digital

Image for nunn making tax digital risks treasury tax take

Tax | Nunn: Making Tax Digital risks Treasury tax take

HMRC's Making Tax Digital programme has repeatedly been questioned over its cost to businesses when complying with quarterly reporting. Yvette Nunn CTA, director of Berkeley Associates, comments on the escalation in Making Tax Digital compliance costs

27 Feb 2017

Making Tax Digital

Image for editors comment making tax digital leaves too many unknowns

Tax | Editor’s comment: Making Tax Digital leaves too many unknowns

With the user trials for beta testing of Making Tax Digital set to kick off in April, there are still a host of unanswered questions for tax advisers and businesses about free software provision, thresholds and compliance requirements, says Sara White, editor of Accountancy

27 Feb 2017

Making Tax Digital

Image for small business commissioner complaints process outlined

Tax | Small Business Commissioner complaints process outlined

The Department for Business, Energy and Industrial Strategy (BEIS) has published the outcome of its consultation on the complaints process for the proposed new small business commissioner (SBC), and is now consulting on draft regulations covering how the postholder will resolve small business complaints about payment related issues with larger businesses

24 Feb 2017

Image for eu financial transactions tax plans face further delay

Tax | EU financial transactions tax plans face further delay

The group of ten EU countries which have agreed to go ahead with a financial transactions tax had an inconclusive meeting in Brussels this week, with differences of opinion emerging over the treatment of pension funds and growing calls for further exemptions to be built into the so-called ‘Robin Hood’ tax

23 Feb 2017

International Tax

Accountancy Firms

Image for eu compromises hybrid mismatch rules non eu countries

Tax | EU compromises on hybrid mismatch rules with non-EU countries

The European Council has reached a compromise on rules aimed at closing down hybrid mismatches with the tax systems of third countries to reduce risk of double taxation

23 Feb 2017

International Tax

Law and Regulation

Image for hmrc updates vat guidance racehorse owners

Tax | HMRC updates VAT guidance for racehorse owners

HMRC has updated its guidance on the VAT registration scheme for racehorse owners who run a business for the first time since 2002, including new advice on how to register and a change in contact details, and a reminder of the VAT status of any winner’s trophies

22 Feb 2017

Image for potential challenge uber over ps20m vat claim

Tax | Potential challenge to Uber over £20m VAT claim

Tax barrister Jolyon Maugham has indicated he is planning a legal challenge to rideshare company Uber, which he claims could owe some £20m annually in unpaid VAT on fares

22 Feb 2017

Image for careless taxpayer has penalty reduced ps158k

Tax | Careless taxpayer has penalty reduced by £158k

A taxpayer, who has previously appeared on the Sunday Times rich list, has had his penalty reduced by £158,000 at a First Tier Tribunal (FTT), after he incorrectly claimed capital loss relief, on the basis that the penalty should be calculated upon the used portion of the loss only

21 Feb 2017

Image for microsoft founder gates advocates robots pay taxes

Tax | Microsoft founder Gates advocates robots pay taxes

Billionaire Bill Gates, the founder of Microsoft, has predicted that in future there will be a need for robots to pay taxes, as increasingly automation replaces more jobs, in order to prevent inequalities

21 Feb 2017

Image for hammond under pressure review business rate rises

Tax | Hammond under pressure to review business rate rises

Chancellor Philip Hammond is coming under pressure to offer further concessions in the Budget next month to the planned hike in business rates, after Conservative MPs joined business groups and major retailers in a public outcry against the impact of new valuations, the first in seven years

21 Feb 2017

Accountancy Firms

Image for cash basis strongly supported buy let landlords

Tax | Cash basis strongly supported by buy-to-let landlords

Landlords have shown strong support on being taxed on the cash basis as part of the Making Tax Digital plans saying that it is an important and strong aspect for small landlords as well as showing overall positivity towards digitalisation, as part of evidence given to the Lords Committee

20 Feb 2017

Making Tax Digital

Image for small businesses face 10 year payback making tax digital

Tax | Small businesses face ’10 year payback’ for Making Tax Digital

Small businesses could face a wait of up to 10 years before they see a return from investing in becoming compliant with Making Tax Digital, members of the House of Lords’ Economic Affairs Committee have heard. Calum Fuller reports

20 Feb 2017

Making Tax Digital

Image for farming businesses too complex quarterly reporting

Tax | Farming businesses too complex for quarterly reporting

The rigid framework of quarterly reporting under Making Tax Digital does not make sense for the farming community due to accounting complexity, use of capital allowances and seasonality of the business, NFU head of tax tells Lords committee. Sara White reports

20 Feb 2017

Making Tax Digital

Image for stamp duty land tax avoidance schemes hit wall

Tax | Stamp duty land tax avoidance schemes hit the wall

There has been a sharp drop in the amount of unpaid stamp duty land tax (SDLT) collected by HMRC over past year, which was a third of the previous year’s total, suggesting the crackdown on property-based tax avoidance schemes is having an impact, according to law firm Collyer Bristow

20 Feb 2017

Image for house lords committee calls hmrc chiefs defend making tax digital

Tax | House of Lords committee calls up HMRC chiefs to defend Making Tax Digital

Making Tax Digital will be back in the spotlight on Wednesday as sneior HMRC officials are called up to give evidence at the House of Lords committee reviewing the draft clauses of the Finance Bill

17 Feb 2017

Making Tax Digital

Law and Regulation

B&ADTV

Croner Intelligence: a day in the life

Q&A: Importance of corporate governance

People with significant control

Most Read

1

Contacting employees during maternity leave

view

2

HMRC to ‘automatically sign up’ MTD taxpayers from September

view

3

Investor fined £489k after failed Reading FC takeover attempt

view

Latest Spotlight

1

The path from CFO to CEO avoiding burnout

view

2

Contacting employees during maternity leave

view

3

What CFOs need to consider before a major AI rollout

view

Editor's Picks

1

How Croner Intelligence works: under the bonnet

view

2

‘He doesn’t have to prove anything,’ defence closes in barrister’s £2m tax trial

view

3

UK GAAP changes to lease accounting: part two

view

CPD Tracker

Our CPD Tracker allows you to bank structured CPD time.

If you’re already a subscriber, log in to access the CPD Tracker to check your points to date and export the data from your personal records.