Business Tax

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Tax | Next loses £2.8m tax relief case at Upper Tribunal appeal

Next has lost a multimillion pound tax allowance claim at the Upper Tribunal which will result in a tax bill of £2.8m for the high street and online clothing giant

28 May 2014

Tax | £21bn rise in tax revenue driven by house sales

Increased income tax revenues and a substantial rise in Stamp Duty Land Tax (SDLT) receipts have pushed up HMRC’s overall tax take in the last twelve months, which is now £21bn higher than the previous year

23 May 2014

Tax | HMRC ‘names and shames’ tax defaulters in fifth list

HMRC has published its fifth public list of individuals it classes as ‘deliberate tax defaulters’ who have been subject to an investigation and found to owe more than £25,000 in tax

21 May 2014

Tax | HMRC tackles landlord tax evasion with online training

In a bid to stop tax evasion by landlords, HMRC has set up a series of online tutorials for landlords to help them understand when and how to pay tax on property they have let out

20 May 2014

Tax | Improvements to PAYE electronic messages for employers

A shake-up of HMRC's electronic messaging service for employers has been announced which will mean that employers receive more timely notifications of late filing, non-filing and late payment through the Generic Notification Service (GNS)

13 May 2014

Tax | UK charges treble average world inheritance tax rate

The UK charges the highest proportion of inheritance or estate tax compared to a basket of world economies, with the government taking three times as much of an individual’s estate as the global average

9 May 2014

Tax | Breakaway EU group confirms commitment to FTT

The 11 EU member states who are going ahead with the Financial Transaction Tax (FTT) have confirmed their commitment to introducing the levy, despite strong opposition from the UK and Sweden

7 May 2014

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Business Tax

Tax | Tax updates: May 2014

The latest tax news, including the decision in Shop Direct Group v Revenue & Customs ([2014] EWCA Civ 255), comment on Budget pension changes, Ex MFI owner HJ Group part wins £183m expenses of management case, and a solicitior is refused anonymity over SDLT penalty

1 May 2014

Tax | Employment updates: April 2014

Upper Tribunal ruling on employee car benefits to changes to Class 1 NICs, LLP guidance on salaried members’ tax, statutory sick pay (SSP) costs abolished, 2014/15 Basic PAYE Tools, updated advisory fuel rates released, reasonable care in construction

1 May 2014

Tax | Employment updates: May 2014

The latest news on employment from reconciling employer and HMRC records for Real Time Information to missing tax codes

1 May 2014

Tax | Essex accountant jailed for £340k VAT fraud

An Essex accountant who claimed £340,000 in fraudulent VAT repayments has been jailed for four years and three months following an HMRC investigation

30 Apr 2014

Tax | HMRC tackles ‘missing trader’ VAT fraud in energy markets

HMRC is likely to bring forward plans to extend the UK’s domestic VAT reverse charge rules to cover energy supplies from the EU, after investigations into suspected cases of alleged VAT fraud in the wholesale gas and electricity energy markets have suggested there is a significant shortfall in receipts

23 Apr 2014

Tax | HMRC plans to share taxpayers’ data slammed

There has been strong criticism of government proposals to allow HMRC to share anonymised taxpayers’ personal data with third parties and to charge for its use, with opponents suggesting this raises important confidentiality issues.

23 Apr 2014

Tax | PwC finds CEOs concerned over international tax regimes

Most international companies take account of a country's tax regime when deciding where to locate, according to research by PwC, which also indicates growing concern over the increasing tax burden.

23 Apr 2014