Business Tax

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Tax | Court rules that £2.2m car allowances subject to NIC

In a test case for the treatment of car allowances, the First Tier Tribunal has dismissed an appeal by Laing O’Rourke for National Insurance contributions (NIC) relief worth £2.2m

26 Aug 2021

Tax | ‘Transparent’ businesses exempt from uncertain tax notifications

HMRC has updated its policy paper explaining the requirement for large businesses to notify the tax authority when they have adopted an uncertain tax treatment, due to come in next year

26 Aug 2021

Tax | Restaurateur banned for £200k undeclared tax

A Hove restaurant director has been banned for six years after it was found that he had under-declared his tax by more than £200,000

26 Aug 2021

Tax | Fraudster finally jailed for £817k VAT fraud

A fraudster who fled the country in 2013 after being charged for an £817,000 VAT fraud based on fake sales has finally been jailed for four years

26 Aug 2021

Tax | HMRC extends PAYE online pilot scheme for agents

HMRC is inviting tax agents with fewer than 500 employer clients to join its agent online service (AOS) pilot which gives agents access to liability and payments data in clients’ PAYE for employers accounts

25 Aug 2021

Tax | HMRC advisory fuel rates for company car users from 1 September

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 September 2021, increasing mileage rates by 1p or more for all petrol and diesel vehicles

25 Aug 2021

Tax | Parliament needs more powers to scrutinise tax deals

Parliament should have more oversight of settlements that HMRC strikes with large corporations to help maintain public trust, a Committee report states

25 Aug 2021

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Business Tax

Tax Compliance

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Tax | Notification of uncertain tax treatment by large businesses

Meg Wilson, tax writer at Croner-i, examines the draft legislation to require large businesses to notify HMRC where they have adopted an uncertain tax treatment

25 Aug 2021

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Business Tax

Consultations

Image for creative industry given ps131bn tax boost

Tax | Creative industry given £1.31bn tax boost

The creative industry has continued to reap the benefits of generous tax breaks for films and television during the pandemic with relief claims up by nearly 20% in the last year

25 Aug 2021

Tax

Business Tax

Tax Planning

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Tax | HMRC issues guidance on extended loss relief

Following the announcement at the Budget in March, HMRC has released guidance on the temporary changes to the carry back rules providing extended loss relief on trading losses

24 Aug 2021

Tax

Business Tax

Tax Compliance

Image for impact covid 19 pandemic transfer pricing

Tax | Impact of Covid-19 pandemic on transfer pricing

Previously accepted comparables used for establishing a company's transfer pricing policy might not be comparable due to the impact of the pandemic, warn David Whitmer, transfer pricing practice leader and Srinidhi Tuppal, transfer pricing manager at Kreston Global

23 Aug 2021

Tax | Inheritance tax receipts rise £500m after nil-rate freeze

HMRC’s latest tax receipt figures show a sharp improvement compared to this time last year with inheritance tax (IHT) rising by £500m after the nil-rate freeze in the Spring Budget

20 Aug 2021

Tax | HMRC must incentivise business R&D spending

Reform of the overly complex research and development (R&D) tax credits system is long overdue and would release funding for innovation, argue Daniel Kyle, James Rolfe and Steven Smith, senior tax consultants at Leyton UK

20 Aug 2021

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Business Tax

Tax Planning

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Tax | 83% of businesses not aware of plastic tax

With less than a year to go until the plastic packaging tax is introduced a survey by Veolia found that 83% of businesses asked were not aware of the tax

19 Aug 2021

Tax | Tax rises and spending cuts needed for independent Scotland

An independent Scotland would need to need to raise taxes or cut spending in order to reduce its budget deficit says Institute for Fiscal Studies (IFS)

19 Aug 2021

Tax | Cryptoassets for businesses - tax implications

Stephen Relf CTA FCA, tax writer at Croner-i, looks at the implications for businesses of buying, using and selling cryptoassets with a particular focus on tax compliance

18 Aug 2021

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Business Tax

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Latest news

Tax | Court rules that £2.2m car allowances subject to NIC

Tax | ‘Transparent’ businesses exempt from uncertain tax notifications

Tax | Restaurateur banned for £200k undeclared tax

Tax | Fraudster finally jailed for £817k VAT fraud

Tax | HMRC extends PAYE online pilot scheme for agents

Tax | HMRC advisory fuel rates for company car users from 1 September

Tax | Parliament needs more powers to scrutinise tax deals

Tax | Notification of uncertain tax treatment by large businesses

Tax | Creative industry given £1.31bn tax boost

Tax | HMRC issues guidance on extended loss relief

Tax | Impact of Covid-19 pandemic on transfer pricing

Tax | Inheritance tax receipts rise £500m after nil-rate freeze

Tax | HMRC must incentivise business R&D spending

Tax | 83% of businesses not aware of plastic tax

Tax | Tax rises and spending cuts needed for independent Scotland

Tax | Cryptoassets for businesses - tax implications