Business Tax

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Tax | Making Tax Digital proposes abolition of annual tax return for partners and LLPs

The ‘simplification’ of reporting requirements for partnerships is proposed as part of the government’s Making Tax Digital policy, consultation documents reveal

15 Aug 2016

Tax | HMRC consultation opens way for voluntary tax payments

HMRC’s consultation on proposals for Making Tax Digital (MTD) includes details of plans for taxpayers to opt for a voluntary pay as you go (PAYG) approach, allowing them to make payments at a point of their choosing towards an expected tax liability

15 Aug 2016

Tax | Unincorporated business reporting for Making Tax Digital set out

Unincorporated businesses, the self employed and landlords will be required to update HMRC on their tax position at least quarterly through digital tax accounts under long awaited plans published today

15 Aug 2016

Tax | Government to reform tax bands for cleaner company cars

The Treasury is holding a nine-week consultation on the design of the bands for ultra-low emission vehicles (ULEVs) from 2020-21 onwards in the company car tax system, to focus incentives on the cleanest cars

15 Aug 2016

Tax | Proposed apprenticeship levy structure outlined in guidance

Guidance on how the apprenticeship levy will be operated has been issued by the Department of Education, as the government embarks on its promised invest £2.5bn in the apprenticeship system by 2020

15 Aug 2016

Tax | Business groups seek ‘greater flexibility’ for apprenticeship levy

As the long-awaited detail on the apprenticeship levy is set to be revealed, business groups suggest the move could herald significant improvements in talent development if the government ‘gets the package right’

12 Aug 2016

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Tax | HMRC consults on changes to benefits-in-kind for salary sacrifice

Changes to both the salary sacrifice and ‘making good’ aspects of benefits-in-kind for both employers and employees are under consultation by HMRC but pensions and health-related benefits have been ringfenced

11 Aug 2016

Tax | Lights not down for Ingenious film schemes

Investors in film schemes at centre of long-running tax dispute face invidious choice, says UHY Hacker Young partner Michael Avient

11 Aug 2016

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Business Tax

Tax Compliance

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Tax | Agents rebut HMRC calls for bank account details on CT returns

In the move towards universal digital tax accounts for business, HMRC is trying to force companies to provide bank details on their corporation tax returns, despite kickback by businesses who continue to prefer to receive tax refunds by cheque

10 Aug 2016

Tax | Innovative Finance ISA draft legislation published

Draft legislation on a new ISA which some MPs believe could lead to investors taking unnecessary risks has been published by HMRC

10 Aug 2016

Tax | Revenue Scotland cuts penalty rates by 0.25%

Revenue Scotland has confirmed it will adopt the Bank of England’s record low interest rate of 0.25% from 10 August 2016 which will see a cut in the interest charged on late payments

9 Aug 2016

Tax | HMRC: 3.5 million people using online personal tax account

HMRC’s online personal tax accounts now boast approximately 3.5 million active users, the tax authority claims in its latest update

9 Aug 2016

Tax | Commercial properties may see business rate hike

A Supreme Court decision on the process used to value non-domestic office and commercial premises occupied by more than one tenant could raise business rates as the Valuation Office Agency is forced to treat different areas of building as separate premises

9 Aug 2016

Tax | Use of IFI ISA could encourage inappropriate crowdfunding, warns Tyrie

The use of Innovative Finance ISAs could lead investors into taking on far greater risk than they can bear, Treasury select committee chairman Andrew Tyrie has warned

8 Aug 2016

Tax | University taxes students for sweet tooth

The University of Brighton has taken matters into its own hands by introducing their own 10p levy on sugary drinks, ahead of governments plans for a UK wide levy, as part of a campaign to cut sugar consumption

5 Aug 2016

Tax | HMRC prepares to move corporation tax forms online

HMRC is to stop providing some corporation tax paper forms, as part of preparations to move to digital working and offer taxpayers the option to receive paper based forms electronically, AAT has highlighted

4 Aug 2016

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Latest news

Tax | Making Tax Digital proposes abolition of annual tax return for partners and LLPs

Tax | HMRC consultation opens way for voluntary tax payments

Tax | Unincorporated business reporting for Making Tax Digital set out

Tax | Government to reform tax bands for cleaner company cars

Tax | Proposed apprenticeship levy structure outlined in guidance

Tax | Business groups seek ‘greater flexibility’ for apprenticeship levy

Tax | HMRC consults on changes to benefits-in-kind for salary sacrifice

Tax | Lights not down for Ingenious film schemes

Tax | Agents rebut HMRC calls for bank account details on CT returns

Tax | Innovative Finance ISA draft legislation published

Tax | Revenue Scotland cuts penalty rates by 0.25%

Tax | HMRC: 3.5 million people using online personal tax account

Tax | Commercial properties may see business rate hike

Tax | Use of IFI ISA could encourage inappropriate crowdfunding, warns Tyrie

Tax | University taxes students for sweet tooth

Tax | HMRC prepares to move corporation tax forms online