Personal Tax

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Tax | Government must tackle unexpected tax bill for NHS workers

Existing tax rules on free accommodation, meals and childcare should be axed for NHS staff who made great sacrifices to protect us all, says RSM’s Susan Ball

25 Aug 2020

Tax | Taxpayer wins appeal over high income child benefit charge ignorance

A taxpayer has won an appeal against penalties imposed for his failure to notify his liability for the high income child benefit charge (HICBC), on the grounds that ignorance of the law was a reasonable excuse and he was not required to ‘rummage’ through all of HMRC’s information sources

24 Aug 2020

Tax | Higher rate pension relief threat to fund coronavirus bill

In her second article on possible pension tax relief reform, LEBC’s Kay Ingram sees greater restrictions ahead as cost of Covid-19 becomes clearer with Spring Budget changes short-lived

24 Aug 2020

Tax | Call to reform CGT rules for divorcing couples

Accountancy firm Milsted Langdon, has joined family law organisation, Resolution, in calling for reforms to the capital gains tax (CGT) system - making it fairer and simpler by introducing a general relief for asset transfers arising for divorcing couples

21 Aug 2020

Tax | An uncertain matter of death and tax

As questions are raised over the future of inheritance tax, Crowe’s Tom Elliott reviews the possible options and asks whether it is a tax that should be laid to rest

20 Aug 2020

Tax | HMRC clarifies loan charge settlement arrangements

HMRC has published further details on how it will implement the loan charge in relation to the use of disguised remuneration tax avoidance schemes where the tax due has not already been settled, emphasising there will be no special settlement terms

19 Aug 2020

Tax | Pensions tax help for lowest paid workers under review

As the government consults on the impact of pension tax relief on lower earners, LEBC’s Kay Ingram weighs the options, calling for greater automation

19 Aug 2020

Tax | HMRC ‘plea bargain’ tax evader deals collect extra £120m

Plea bargain deals give taxpayers immunity from criminal investigations as HMRC steps up investigations to help pay for coronavirus economic assistance

17 Aug 2020

Tax | Tax incentives hit £25.6bn record high

Savers urged to capitalise on record-breaking savings and investments tax incentives, as the Treasury is looking for ways to cover the public spending cost of Covid-19

12 Aug 2020

Tax | Unexpected tax bills on horizon from coronavirus grants

Depending on how businesses and self-employed individuals prepare their accounts, there could be unexpectedly large tax bills for those that have received small business or retail, hospitality and leisure grants during the pandemic as early as this tax year, explains RSM’s Caroline Hulse

10 Aug 2020

Tax | Covid-19: tax-free childcare extended

Tax-free childcare has been extended to 31 October for parents who may have fallen below the minimum income requirement, and critical workers who may have exceeded it

6 Aug 2020

Tax | Plans for NICs holiday for military veterans’ first civilian job

The government is consulting on plans for a National Insurance contributions (NICs) holiday for Armed Forces veterans who take up civilian jobs, first announced at Spring Budget 2020

3 Aug 2020

Tax | Inheritance tax receipts drop for first time in 10 years

Inheritance tax receipts (IHT) have dipped for the first time in a decade, reversing a long term trend, and prompting renewed calls for a change to the regime

31 Jul 2020

Tax | Tackling the £31bn tax gap: what’s next?

As HMRC reveals a shrinking tax gap, BDO’s Dawn Register and Tom Palmer investigate where and how the tax collector can find the missing billions, from a focus on offshore and the wealthy to those that simply do not pay

31 Jul 2020

Tax | Treasury consults on pensions tax relief administration

The Treasury is consulting on how to plug a loophole in the way pensions tax relief operates, which means around 1.75m lower paid workers saving in a pension may end up in differing financial positions depending on how their scheme is administered

29 Jul 2020

Tax | HMRC sets up scheme for loan charge refunds

HMRC has published guidance on how it will administer the disguised remuneration repayment scheme, offering refunds to taxpayers who made voluntary payments of income tax or National Insurance prior to a change in the rules regarding the loan charge

28 Jul 2020