Personal Tax

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Tax | HMRC complaints at seven-year high

Complaints about HMRC have reached the highest level since the global financial crisis, according to analysis by Saffery Champness, which warns that the switch to making tax digital (MTD) risks prompting a further rise, with additional cost to the tax authorities

18 Nov 2016

Making Tax Digital

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Tax | Ex-HMRC employee sentenced for tax evasion

A former HMRC employee who failed to declare his second income as security doorman has been sentenced for tax evasion following an internal HMRC investigation

18 Nov 2016

Called to Account

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Tax | FCA consults on rules for ‘complex’ Lifetime ISA

The Financial Conduct Authority (FCA) is consulting on its proposed approach to regulating the promotion and distribution of the lifetime ISA (LISA), saying there is a need for additional rules to address potential behavioural bias amongst consumers because of the complexity of the investment product compared to other ISAs already on the market

17 Nov 2016

Image for ftt win rock drummer over backdating nics

Tax | FTT win for rock drummer over backdating NICs

The First Tier Tribunal (FTT) has found in favour of a former ‘psychedelic soul’ rock musician of state pension age who was seeking to overturn an HMRC ruling preventing him from making over 30 years of late payments of backdated Class 2 National Insurance contributions (NICs), on the grounds that this was not due to a failure to exercise due care and diligence

16 Nov 2016

Law and Regulation

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Tax | Call for EU-wide beneficial ownership register

MEPs have faced calls for a European register of beneficial owners of companies, along with stronger action to counter money laundering, during a meeting of the European Parliament’s Panama Papers inquiry committee which was given details of initial findings from the data

16 Nov 2016

International Tax

Law and Regulation

Image for hmrc shoot star tax avoiders 2017

Tax | HMRC to shoot for STAR tax avoiders in 2017

HMRC is bolstering its already rich arsenal against tax avoidance with its ‘serial avoiders’ regime, including naming and shaming, set to come in from April 2017, explains BDO tax investigations partner Dawn Register

16 Nov 2016

Image for ots calls income tax and nics alignment

Tax | OTS calls for income tax and NICs alignment

The Office of Tax Simplification (OTS) has published a report detailing proposals for National Insurance contributions (NIC) and income tax to be brought closer together and describing the current approach as an ‘outdated system’ in light of changing employment practice

15 Nov 2016

Image for call prosecution student loan defaulters living abroad

Tax | Call for prosecution for student loan defaulters living abroad

The government is being urged to give stronger consideration to prosecuting borrowers who seek to avoid paying back student loans by moving abroad, with an independent think tank claiming the Treasury could recoup £22 for every £1 spent on collection

15 Nov 2016

Image for hodge powers must be used enforce tax transparency

Tax | Hodge: Powers must be used to enforce tax transparency

Having been reluctant to do so, the government should be prepared to take advantage of little-used powers to ensure tax transparency overseas, says Margaret Hodge MP

15 Nov 2016

International Tax

Image for hmrc axes concentrix tax credit contract early

Tax | HMRC axes Concentrix tax credit contract early

HMRC has axed its contract with Concentrix with immediate effect, six months earlier than scheduled, after a barrage of criticism over the outsourcing company’s poor performance in checking tax credit claims

14 Nov 2016

Image for hmrc denies mtd means quarterly filing

Tax | HMRC denies MTD means quarterly filing

HMRC has gone on the offensive to counter claims that its move to making tax digital (MTD) will increase the accounting costs and burden for large numbers of businesses, in the wake of sustained criticism from professional bodies and others about the proposals

11 Nov 2016

Accountancy Firms

Image for romangate appellant wins ps475k tax avoidance case

Tax | Romangate appellant wins £475k tax avoidance case

The First Tier Tribunal (FTT) has found in favour of a taxpayer who was appealing against a discovery assessment in relation to a failed tax avoidance scheme, on the basis that although HMRC made a discovery of an insufficiency of £475,498 in income tax, this was not brought about deliberately

9 Nov 2016

Image for tax body calls postponement mtd prepare businesses and software

Tax | Tax body calls for postponement of MTD to prepare businesses and software

Tax experts from the Low Incomes Tax Reform Group (LITRG) have voiced concerns over HMRC’s ambitious timescale for Making Tax Digital (MTD) reforms and call for them to be postponed to better prepare businesses and test out new software

9 Nov 2016

Image for hmrc figures confirm low take marriage allowance

Tax | HMRC figures confirm low take-up of marriage allowance

Despite an extensive, targeted publicity campaign, less than a quarter of those eligible have applied for the marriage allowance, and are missing out on the chance to reduce their tax bill by up to £220 a year, according to HMRC’s own figures

8 Nov 2016

Image for uber and charge vat

Tax | Uber and the charge to VAT

An employment tribunal ruled that Uber drivers are to be treated as permanent staff which will result in changes to tax/NIC payments. If acting as principal, Uber faces a VAT bill; if acting as agent, the VAT liability rests with the drivers explains David Wilson, VAT associate director at RSM

2 Nov 2016

Image for nics payments working abroad clarified

Tax | NICs payments for working abroad clarified

HMRC has rewritten the rules for national insurance payments for employees who work abroad on an ad hoc basis, following confusion over compliance issues

2 Nov 2016

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