Personal Tax

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Tax | Icelandic music stars challenge tax laws

The Icelandic post-rock band Sigur Rós is calling for a review of the country’s tax laws, as its members prepare to face a second trial over charges of tax evasion, claiming there is a risk of ‘double jeopardy’

21 Oct 2020

Tax

Personal Tax

Tax Compliance

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Tax | Call to improve administration of tax reliefs

Taxpayers are missing out on claims for tax reliefs because of the complexity of applying, and HMRC should enhance the functionality of digital tax accounts and streamline expenses claims to improve take up, according to a report from the Office of Tax Simplification (OTS)

21 Oct 2020

Tax | Q&A: homeworking tax implications

In our regular Q&A series, Croner Taxwise, tax adviser, Ibrahim Nalla, explains the tax implications of buying a brand-new office pod to be installed in a company director’s garden, how will the company and director be affected?

20 Oct 2020

Tax | Relocating Scots warned about tax implications

Young Scots who normally live and work in London and other UK cities, but who have given up expensive accommodation and relocated back home during the pandemic could face bigger tax bills, Blick Rothenberg is warning

16 Oct 2020

Tax | HMRC warns university students over tax scams

As students return to university at the start of the new academic year, HMRC is highlighting that they could be targeted by a fresh wave of tax scams

12 Oct 2020

Tax

Personal Tax

HMRC

Image for surreys stockbroker belt uk income tax hotspot

Tax | Surrey’s stockbroker belt is UK income tax hotspot

The ‘stockbroker belt’ dominates the ranking of the UK’s top ten towns with the biggest income tax bills, with taxpayers in these areas paying triple the UK average, according to research by UHY Hacker Young

9 Oct 2020

Tax

Personal Tax

HMRC

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Tax | Self assessment ‘time to pay’ threshold raised to £30,000

HMRC has made it easier for self assessment taxpayers to pay the tax they owe incrementally on a monthly basis, by extending the threshold for ‘time to pay’ applications, as part of efforts to ease financial stresses cause by the pandemic

5 Oct 2020

Tax | Q&A: VAT implications of a successful hobby

In our regular Q&A series, Croner Taxwise explores the VAT implications for income earned relating to a hobby, for example prize money, participation fees and sponsorship

29 Sep 2020

Tax | President Trump ‘paid no income tax’ for 11 years

Donald Trump paid just $750 (£581) in federal income tax the year he became US president, and made no payments in 11 other earlier years, according to US news media reports

28 Sep 2020

Tax

Personal Tax

Politics

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Tax | Loan charge tax deadline in six days, warns LITRG

The Low Incomes Tax Reform Group (LITRG) is warning people that they have until Wednesday (30) to meet their loan charge reporting and payment obligations

24 Sep 2020

Tax | VAT refunds to overseas shoppers to go post-Brexit

The Treasury has signalled the government will end VAT refunds on purchases made by overseas visitors on 31 December, when the UK leaves the EU, despite claims from the travel and luxury goods sector that this will harm tourism

23 Sep 2020

Tax | Q&A: class 1 NIC bill from HMRC

In our regular Q&A series from Croner Taxwise, Vanessa Matthews advises how much could be recoverable from an under deducted Class 1 National Insurance Contributions (NICs) bill from HMRC

22 Sep 2020

Tax | Q&A: main residence capital gains tax

In our regular Q&A series from Croner Taxwise, trainee tax adviser, Alexander McCarthy explains whether a taxpayer can claim their old marital home is still their main residence for capital gains tax (CGT) purposes when it is sold

15 Sep 2020

Tax | Windsor tops tax avoidance table

Windsor has been named the UK hotspot for tax avoidance based on numbers of disclosures by taxpayers in the past year, with other stockbroker belt towns also in the top ten, according to research by UHY Hacker Young

7 Sep 2020

Tax | Is a wealth tax on the cards?

A new wealth tax in the UK, to support the NHS and social care, cannot be ruled out, following suggestions from the US to introduce a new charge on billionaires, says Blick Rothenberg’s Nimesh Shah

7 Sep 2020

Tax | Private pension withdrawal age to be raised

The Treasury has confirmed that the minimum private pension age will increase from 55 to 57 in 2028, meaning that savers in late forties and those younger will now need to wait two years longer before accessing their pension

4 Sep 2020