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Tax | HMRC to keep NIC elections in employee share schemes

As an outcome of a consultation on employee share schemes, HMRC has decided to retain the facility to make National Insurance Contribution (NIC) elections in non-tax advantaged employee share schemes

18 Oct 2016

Tax | Pensions reforms set to benefit higher rate taxpayers most

The Office for Budget Responsibility (OBR) has sounded a warning about the long term impact of the government’s raft of changes to the tax treatment of private pensions and savings, warning that while these seem set to provide a short-term gain for the UK economy until 2020-21, after that they could represent a net cost

14 Oct 2016

Tax | HMRC loses £1.2bn Lehman tax claim case over ‘inconsistent’ advice

HMRC is set to lose out on £1.2bn in tax after the High Court agreed with PwC, the administrators of Lehman Brothers, that creditors did not have to pay income tax on interest earned while their money was tied up in the collapsed bank, with the judge highly critical of HMRC’s handling of the issue

13 Oct 2016

Tax | Partnership taxation: HMRC sets sights on partners with tax proposals

HMRC’s internal issues with the tax treatment of partners could lead to an unwieldy tax framework for partnerships if the proposals in the latest consultation on the tax treatment of partners gets the go-ahead. Mark Cawthron, specialist tax writer at CCH, unpicks the proposals and considers the pros and cons from a partnership perspective

13 Oct 2016

Tax | HMRC releases more Making Tax Digital webinars

HMRC has set up more Making Tax Digital webinars that will run throughout October, providing tax advisers, businesses and landlords with the opportunity to find out more about the move to digital tax accounts and ask further questions on the six consultations, which are still ongoing

12 Oct 2016

Tax | Izza: stop attacking accountants

Following Theresa May’s speech to the Conservative Party Conference last week, ICAEW chief executive Michael Izza has made a bullish response, repeating calls for the government to approve the profession’s ethical code

11 Oct 2016

Tax | HMRC adds category on penalties for offshore matters

A category has been added to HMRC’s factsheet on higher penalties for offshore matters, with the added section providing information on less extreme penalties given for territories that exchange information with the tax authority automatically

10 Oct 2016

Tax | HMRC considering tax status of 100 BBC presenters

HMRC is investigating around 100 BBC presenters over claims they used personal service companies (PSCs) in a bid to reduce the amount of tax they paid when working as staff at the organisation, according to evidence presented to a First Tier Tribunal (FTT)

10 Oct 2016

Tax | HMRC updates dividend guidance for community benefit societies

HMRC has updated the tax guidance to clarify the rules for reporting annual tax returns detailing payment of dividends, interest and bonuses by registered societies such as co-operatives and community benefit societies

6 Oct 2016

Tax | Bull: the UK tax system post-Brexit

As the government begins the process of forming its roadmap to Brexit, RSM senior tax partner George Bull looks at what form the tax system will take on post-Brexit

6 Oct 2016

Tax | Ex-Hull City footballer Windass faces bankruptcy

Former Premier League footballer Dean Windass, famous for scoring the goal which propelled his club Hull City into the Premier League for the first time, is involved in bankruptcy proceedings over an outstanding tax payment estimated at more than £150,000

4 Oct 2016

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Tax | Tax advisers to send warning letters on taxing offshore assets

HMRC has published guidance on a letter which tax advisers and financial institutions may need to send to clients who have income or assets overseas, explaining its wider powers to exchange tax information with other jurisdictions and urging anyone who is in doubt about their offshore tax position to seek advice

3 Oct 2016

Tax | Tax filing deadlines: Oct 2016 - Jan 2017

The key HMRC filing deadlines from October to January 2017 including PAYE settlement agreement, self assessment tax returns, PAYE cheque payments

3 Oct 2016

Tax | Call for more information on Scotland’s tax and spending

The Auditor General has challenged the Scottish government to provide more transparency over the reporting of public finances following its 2015/16 audit of the consolidated accounts, saying there is more work to do as new financial powers are introduced at a time of uncertainty created by the EU referendum result

30 Sep 2016

Tax | Global tax regimes play key role in emigration

Tax regimes and financial factors, as well as lifestyle, are key considerations for individuals that are looking to emigrate to other countries, according to BDO’s Global Opportunities report

30 Sep 2016

Tax | Personal Savings Allowance excludes ISA interest

HMRC has updated the Personal Savings Allowance (PSA) guidance, providing information on tax-free products that do not count towards a PSA, which was introduced by government in April earlier this year

29 Sep 2016

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Latest news

Tax | HMRC to keep NIC elections in employee share schemes

Tax | Pensions reforms set to benefit higher rate taxpayers most

Tax | HMRC loses £1.2bn Lehman tax claim case over ‘inconsistent’ advice

Tax | Partnership taxation: HMRC sets sights on partners with tax proposals

Tax | HMRC releases more Making Tax Digital webinars

Tax | Izza: stop attacking accountants

Tax | HMRC adds category on penalties for offshore matters

Tax | HMRC considering tax status of 100 BBC presenters

Tax | HMRC updates dividend guidance for community benefit societies

Tax | Bull: the UK tax system post-Brexit

Tax | Ex-Hull City footballer Windass faces bankruptcy

Tax | Tax advisers to send warning letters on taxing offshore assets

Tax | Tax filing deadlines: Oct 2016 - Jan 2017

Tax | Call for more information on Scotland’s tax and spending

Tax | Global tax regimes play key role in emigration

Tax | Personal Savings Allowance excludes ISA interest