Business Tax

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Tax | PwC, Shire Pharma heads of tax in front of PAC

PwC’s head of tax, Kevin Nicholson, is due in front of the Public Accounts Committee (PAC) this afternoon, to answer further questions from MPs who are looking at issues around tax avoidance

8 Dec 2014

Tax | AS 2014: changes to oil and gas fiscal regime

The Treasury has given more details of changes to the oil and gas fiscal regime first outlined in the Autumn Statement, which include introducing a single basin-wide ‘investment allowance’ designed to reduce the effective tax rate for companies investing in the future of the UK Continental Shelf and simplify the tax regime

5 Dec 2014

Tax | AS 2014: limitations in R&D and entrepreneurs relief

There have been criticisms of the Chancellor’s announcement in the Autumn Statement of restrictions on the tax reliefs on the incorporation of a business and on R&D expenditure, despite a pledge to do more for small and medium sized businesses

4 Dec 2014

Tax | AS 2014: key tax measures from SDLT to ER

For a summary of the important tax changes for business and individual taxpayers announced by the Chancellor in Autumn Statement 2014, Diane Tan reviews the key measures from reform of stamp duty rates to personal allowances and business tax reliefs. Read our at-a-glance guide here

4 Dec 2014

Tax | AS 2014: VAT refunds for hospices lack detail

The Chancellor’s announcement in the Autumn Statement of government plans to offer VAT refunds for search and rescue, and air ambulance organisations across the whole UK as well as hospice charities have come under fire for lack of detail of how such a scheme would operate

3 Dec 2014

Tax | AS 2014: entrepreneurs relief retains EIS benefits

In an Autumn Statement setting out the claims for Chancellor's economic management, George Osborne set out a number of measures to reform and extend existing tax reliefs for entrepreneurs, including a tightening up of the enterprise investment scheme (EIS) for dual applicants and removal of enterpreneurs relief on business sales to related close companies

3 Dec 2014

Tax | AS 2014: Creative tax reliefs to cover children’s TV

Following on from the success of the film, high end TV, animation, video games and theatre tax reliefs, a new children’s TV tax relief will be introduced from April 2015

3 Dec 2014

Tax | Tax updates: December 2014

In our monthly round-up of case reports and tax changes, ICAEW chief lambasts 17,000 page tax code, complexity will shape further Scottish tax devolution, Dock and Let case clarifies deadline for issuing notice of HMRC enquiry and entrepreneurs' relief allowed on disposal of shares in Hirst case

1 Dec 2014

Tax | Development updates: December 2014

With the Christmas party season upon us, this month's development updates offers tips and advice on how to make sure your plans for staff parties do not fall foul of the taxman, the increasing tax compliance burden for companies with highly mobile, global employees and achieving diversity targets at FTSE 350 companies

1 Dec 2014

Leadership & Management

Accountancy Firms

Companies

Tax | Scottish tax authority launches Revenue Scotland website

As details of Scotland’s new tax raising powers are confirmed Revenue Scotland, the tax authority responsible for the administration of Scotland’s devolved taxes, has formally launched its website

27 Nov 2014

Tax

Business Tax

Tax Compliance

Tax | Netherlands beats UK as best tax environment in Europe

The UK is ranked as one of the most attractive European economies in which to operate from a tax perspective, and is in the lead when it comes to preparing for the impact of the OECD’s Base Erosion and Profit Shifting (BEPS) project, according to analysis by Deloitte

27 Nov 2014

Tax | UK’s biggest businesses pay £80bn in tax as CT take falls

The UK’s largest companies paid their biggest ever share of the total tax collected in 2014 with a £80bn contribution, the largest in the past ten years, according to analysis of the tax paid by the 100 Group, representing some of the country's largest listed businesses

26 Nov 2014

Tax | Dodwell: BEPS reform is forcing Ireland to reform tax rules

The latest work by the OECD tax policy team to review global tax rules is beginning to have an impact, particularly in Europe where Switzerland and Ireland are reforming their current tax rules, says Bill Dodwell, head of tax policy at Deloitte

26 Nov 2014

Tax | UK ranked 16th in global tax rankings, says World Bank

Paying taxes has become easier over the past year for medium-sized companies around the world, with compliance time falling due to the use of more online reporting systems, while the overall tax rate stands at 40.9%

21 Nov 2014

Tax

Business Tax

Companies

Tax | HMRC fails to control up to £1.2bn of tax relief abuse, says NAO

HMRC has been heavily criticised for failing to monitor the impact and effectiveness of key tax reliefs in a report from the National Audit Office (NAO) which found that one scheme alone cost over £2bn more than expected, and concluded that there is no guiding framework to assess whether such reliefs deliver value for money

21 Nov 2014

Tax | Warning: keep a copy of HMRC guidance as defence

Anyone relying on HMRC guidance published online is being told to keep printouts or screengrabs of the relevant pages to protect them in the event of an HMRC enquiry

20 Nov 2014