Personal Tax

Latest news

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Tax | Nil rate band to lift inheritance tax threshold by £100K from April

Changes to inheritance tax are set to come into force from 6 April with the introduction of the long-expected nil rate inheritance tax (IHT) break applicable when a residence is passed on death to direct descendants

7 Mar 2017

Leadership & Management

Image for hmrc contact sa online users invalid repayment requests

Tax | HMRC to contact SA online users with invalid repayment requests

HMRC has updated its contact and phishing warnings guidance to inform self assessment (SA) online users that they could be contacted via telephone if HMRC has been unable to validate a repayment request, from 13 March 2017

7 Mar 2017

Tax | IR35 rule change for contractors in public sector

Dave Chaplin, CEO and founder of Contractor Calculator, outlines the steps public sector hirers and their contractors should take to ensure they are IR35 compliant as HMRC ramps up its powers and drags more self employed workers into the system

7 Mar 2017

Tax | Offshore tax evasion: compliance and penalties - part 1

Sometimes it can be hard to keep up with the avalanche of government announcements on tax avoidance and evasion. In the first of a two part series, Jason Collins, a member of the CIOT’s management of taxes sub-committee and partner at Pinsent Mason, provides an overview of the rapidly changing tax compliance landscape for offshore evasion

7 Mar 2017

Tax | Corbyn faces questions over tax return

Labour leader Jeremy Corbyn’s tax affairs are under scrutiny after claims were made he may have failed to declare income as opposition leader on his newly-published tax returns

6 Mar 2017

Tax | Top QC fails in third bid to reduce £1m-plus tax penalties

A leading barrister has failed in his latest appeal to an Upper Tribunal in a long running dispute about over more than £1m of penalties imposed by HMRC for his failure to comply with three information notices, two relating to income tax and one in connection with inheritance tax relating to the estate of his late father

6 Mar 2017

Tax | Martin Clunes loses tax appeal anonymity claim

Former Men Behaving Badly star and TV celebrity Martin Clunes has lost his case at a First Tier Tribunal (FTT) to keep his name and details private in a forthcoming tax appeal over whether the actor is entitled to set the cost of cosmetic surgery against his earnings in the calculation of his income tax liability

6 Mar 2017

Tax | Spring Budget 2017: what to expect

This Wednesday marks the last ever spring Budget where Chancellor Philip Hammond could address anything from a raft of new tax changes to a review on existing initiatives, with accounting firms making their own predictions on what could and should be included

6 Mar 2017

Tax | Flat rate probate fees switch to sliding scale

The government is to go ahead with plans to move from the current flat fee for applications for a grant of probate to a banded structure where the fees increase in line with the value of the estate, up to a maximum of £20,000, despite strong opposition to the proposals at the consultation stage

2 Mar 2017

Tax | Tax updates: March 2017

In this month's tax updates we review tax cases from Barreto and unexplained income to O'Mara and payment surcharges, allowable expenses for MP's local office, the rise in car tax rates for new vehicles over £40k and HMRC to dump Verify service

1 Mar 2017

Tax | Tax avoidance scheme investor loses tribunal penalty appeal

A solicitor who invested in the Liberty 2 tax avoidance scheme, and who was seeking to appeal against penalties imposed by HMRC for late payment of an accelerated payments notice (APN) on the grounds of ill health, has lost his case at the First Tier Tribunal (FTT)

28 Feb 2017

Tax | Hadley: P6 coding notices to multiply under HMRC digitisation plan

An overhaul of the way HMRC updates employee tax codes under PAYE P6 notices in real time will result in frequent coding updates from April 2017, but are employers ready for a surge in queries from employees, asks David Hadley, tax director at Mercer & Hole

28 Feb 2017

Tax | Buy-to-let taxation: annual tax on enveloped dwellings (ATED) - part 8

Changes to the annual tax on enveloped dwellings (ATED) regime which came into force from April 2016 mean many incorporated buy-to-let landlords previously unaffected by ATED now need to be mindful of the rules and pitfalls, warn Joseph Pollard, associate director and Emma Milgate, manager, RSM

28 Feb 2017

Tax | Dodwell: 2016/17 tax year marks raft of changes to personal and business tax

With a deluge of tax changes slated for the new tax year in April, such as the start of the serial tax avoiders’ regime and restrictions on salary sacrifice arrangements, the next Budget must be tax light, says Bill Dodwell, partner and head of tax policy at Deloitte

28 Feb 2017

Tax | Briefing: Making Tax Digital essentials

As HMRC aims for the launch of Making Tax Digital in April 2018, CCH Daily assesses the key developments, timetable and compliance costs, House of Lords criticism of mandation and concerns over readiness of software developers to be up and running in time for the start date

27 Feb 2017

Tax | Editor’s comment: Making Tax Digital leaves too many unknowns

With the user trials for beta testing of Making Tax Digital set to kick off in April, there are still a host of unanswered questions for tax advisers and businesses about free software provision, thresholds and compliance requirements, says Sara White, editor of Accountancy

27 Feb 2017