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Tax | Interactive fair tax mark map launched

The Fair Tax Mark group, an independent accreditation process assessing corporation tax practices and reporting, has launched an interactive map showing businesses signed up to the scheme

17 Feb 2017

Tax | EU mulls reduction in threshold for country-by-country reporting

EU plans for country-by-country reporting could target a much broader base of multinationals if proposals from the European parliament’s Committee on Economic and Monetary Affairs to slash the current threshold are adopted

16 Feb 2017

Tax | Swiss plan to reform corporate tax system stymied

A referendum in Switzerland has rejected planned reforms of the country's corporate tax system, despite support from government and business for the new regime, which was intended to bring the current approach of low taxes for multinationals into line with international norms

13 Feb 2017

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Image for riley making tax digital means making tax digital

Tax | Riley: Making Tax Digital means Making Tax Digital

Last week saw an interesting few days. We had the vote on triggering Article 50 in the Commons and a day later the publication of the Brexit White Paper. Getting in just before the filing deadline of 31 January, HMRC’s response to the six consultations on Making Tax Digital landed with a thud. Jonathan Reilly, head of tax at Grant Thornton reacts to the digitisation plans

9 Feb 2017

Tax | Lords brand Making Tax Digital mandation ‘undemocratic’

Members of the House of Lords Economic Affairs Finance Bill sub-committee have described the mandatory uptake of Making Tax Digital as ‘undemocratic’ as they continue their enquiries into the project’s rollout. Calum Fuller reports

9 Feb 2017

Tax | MPs seek clarification on Making Tax Digital costs to business

The Treasury is coming under pressure to provide a detailed analysis of the costs to business of Making Tax Digital, after business groups have suggested these may be as much as ten times greater than forecast

9 Feb 2017

Tax | Apprenticeship Levy: what you need to know

As the introduction of the apprenticeship levy approaches on 6 April 2017, Stephen Hemmings, corporate tax partner at Menzies, examines what the levy means for firms and their clients

8 Feb 2017

Tax | Making Tax Digital: accountancy profession to give evidence to Lords committee

Representatives from ICAEW and ATT, along with other members of the accountancy profession, will be giving evidence on the impact of the government’s Making Tax Digital proposals, and whether taxpayers are ready for the changes, to a session of the House of Lords economic affairs finance bill sub-committee later today

8 Feb 2017

Tax | Aplin: HMRC must clarify user testing plans for Making Tax Digital

Effective user testing for Making Tax Digital is critical if HMRC’s plan for quarterly reporting and digitisation of tax is going to work but the delay in confirming the exemption threshold is creating uncertainty for small businesses, warns Paul Aplin, vice president of ICAEW

8 Feb 2017

Tax | Scottish tax tribunals to be overhauled from April

Scotland is to overhaul the tax tribunal system with the abolition of the existing First-tier Tax Tribunal and creation of a new Tax Chamber

8 Feb 2017

Tax | Making Tax Digital £10k threshold ‘ridiculous’, claim Lords

HMRC’s £10,000 threshold for use of Making Tax Digital has been excoriated by members of the House of Lords economic affairs committee, who branded the proposal ‘ridiculous’

7 Feb 2017

Tax | eBay identifies errors in tax reporting

Online sales platform eBay has notified US regulators that is has identified a material weakness in its internal control over financial reporting which means it did not correctly account for the tax on some transactions in December, and is now implementing a remediation plan

7 Feb 2017

Tax | Whitbread: accountants ignored in Making Tax Digital

HMRC has published the plans for Making Tax Digital, following a series of consultations throughout 2016 however, the tax authority still remains ambiguous. Francis Whitbread, tax partner at Edmund Carr. comments on the absence of software and bypassing accountants' views

7 Feb 2017

Tax | Entertainment tax break worth £565m

The media and entertainment industry is expected to receive tax breaks worth £565m, a 9% increase on the £530m recorded last year, according to research from Moore Stephens, which suggests the corporation tax relief for British-based productions is providing a strong stimulus to UK video games developers and film, TV, animation and theatrical production companies

6 Feb 2017

Tax | Roy-Chowdhury: Making Tax Digital timetable could hurt businesses

Making Tax Digital must take account of the needs of small businesses says ACCA head of taxation Chas Roy-Chowdhury

6 Feb 2017

Tax | Fifth of micro-businesses in dark over Making Tax Digital

Despite HMRC launching an eight-month public consultation on its flagship Making Tax Digital proposals requiring a switch to digital financial records and quarterly online updating, a fifth of micro business owners have no knowledge of the plans, according to a survey by online accounting provider FreeAgent

3 Feb 2017