Business Tax

Latest news

Image for charity advertising guidance reissued after 14 years

Tax | Charity advertising guidance reissued after 14 years

The VAT notice explaining which advertising services and goods are zero rated when supplied to charities has been scrapped and reinstated by HMRC in its first update since the notice was published in 2002

8 Nov 2016

Tax | What you need to know: company car schemes and salary sacrifice benefits

A series of measures set to come into force from 2017 will affect the way organisations run company car schemes, possibly costing businesses up to an extra £1,000 per car per year. In the second of a two part series, Matthew Walters, head of consultancy services at LeasePlan, considers the potential clampdown on salary sacrifice benefits for company car schemes

8 Nov 2016

Tax | OTS rejects lookthrough taxation system for small business

The Office of Tax Simplification (OTS) has rejected the viability of introducing lookthrough taxation for small companies as it would not simplify the current tax system for small business and would deter entrepreneurs

4 Nov 2016

Tax | Online service allows businesses to submit one VAT return a year

HMRC has launched an online application service for its advance VAT Annual Accounting Scheme which allows taxpayers to submit only one VAT return a year instead of quarterly, which came into force on 3 November

4 Nov 2016

Tax | Capital allowances for low emission company cars extended as LRR threshold cut

The extension of the 100% first year allowance (FYA) for businesses purchasing ultra low emission vehicles is to go ahead but the threshold for lease rental restrictions will be lowered

3 Nov 2016

Tax | Uber and the charge to VAT

An employment tribunal ruled that Uber drivers are to be treated as permanent staff which will result in changes to tax/NIC payments. If acting as principal, Uber faces a VAT bill; if acting as agent, the VAT liability rests with the drivers explains David Wilson, VAT associate director at RSM

2 Nov 2016

Tax | NICs payments for working abroad clarified

HMRC has rewritten the rules for national insurance payments for employees who work abroad on an ad hoc basis, following confusion over compliance issues

2 Nov 2016

Tax | FRC calls for clearer disclosure on tax uncertainties

The Financial Reporting Council (FRC) has released details of its thematic review of aspects of tax reporting in annual reports and accounts, which found companies need to articulate better how they account for tax uncertainties, particularly in the light of the expected introduction of new IFRS requirements in this area

1 Nov 2016

Tax | Tax updates: November 2016

A round-up of the latest tax cases from IHT disputes in Routier, to SOCA assumed general revenue functions' of HMRC over penalties in Robb and share loss relief denied in Alberg, to the Criminal Offences Bill, rushed tax consultations and changes to property interest relief for buy-to-let landlords

1 Nov 2016

Tax | Self: bridging the tax gap

Heather Self, partner at Pinsent Masons, analyses the latest HMRC estimates of the tax gap, the growing appetite for harsh penalties and the likelihood of improving the picture in the future

31 Oct 2016

Tax | London Welsh Rugby Club in scrum with HMRC over winding up petitions

London Welsh Rugby Football Club, one of England’s oldest clubs, is facing a winding up order from HMRC in the High Court on Monday, less than two months after it escaped a similar petition.

28 Oct 2016

Tax | Criminal Finances Bill open for comment

The House of Commons public bill committee is inviting written evidence on the Criminal Finances Bill which is currently passing through Parliament, and which will introduce a controversial new offence of corporate failure to prevent tax evasion

28 Oct 2016

Tax | Hodge: Brexit could lead to ‘tax haven conditions’ in UK

Leaving the EU could encourage ‘greater promiscuity’ in corporate tax policy according to Labour MP and former Public Accounts Committee chairwoman Margaret Hodge

28 Oct 2016

Tax | EU reshapes plan for single corporation tax return

The European Commission has re-booted its long-delayed plans to introduce a Common Consolidated Corporate Tax Base (CCCTB), which it says have been reworked to be more pro-business and if approved by the EU28 will reform corporate taxation across the EU

26 Oct 2016

Tax | Extra jail time served for cooking up £600K restaurant VAT scam

Five men, including two who were already in prison for a previous VAT fraud conviction, have been sentenced after an investigation by HMRC into a £600,000 tax fraud carried out at two curry house restaurants

26 Oct 2016

Tax | Dodwell: soft law and corporate tax strategy

The volume of UK tax law is often criticised as every year another 600 pages are added to the tax code, but increased transparency with the publication of company tax strategies is a welcome development. Bill Dodwell, partner and head of tax policy at Deloitte considers the growing impact of so-called soft law on taxpayer behaviour at a corporate level

26 Oct 2016