Personal Tax

Latest news

Image for retail director loses ps457k compensation tax dispute

Tax | Retail director loses £457k compensation tax dispute

A retail director has lost an appeal in the First Tier Tribunal (FTT) against a closure notice on the grounds that a compensation fee of £1m was not chargeable to tax

24 Nov 2022

Tax | Road tax on electric vehicles will raise £985m

The government plans to tax electric vehicles with the introduction of vehicle excise duty for zero emission cars, vans and motorcycles from 2025

23 Nov 2022

Tax | Tax take soars with £41.5bn boost to revenue

Total tax receipts for April 2022 to October 2022 were £432.8bn, which was £41.5 billion higher than the same period a year earlier

22 Nov 2022

Tax

Personal Tax

HMRC

Image for autumn statement 2022 electric vehicles will be taxed

Tax | Autumn Statement 2022: electric vehicles will be taxed

The government plans to tax electric vehicles from April 2025 to equalise the road vehicle excise duty with petrol and diesel vehicles

17 Nov 2022

Tax | Autumn Statement 2022: basic income tax thresholds frozen

The Chancellor committed to keeping basic and higher rate income tax rates at current levels but extended the threshold freeze to 2028

17 Nov 2022

Tax

Personal Tax

Budget

Image for autumn statement 2022 dividend tax allowance cut ps1k

Tax | Autumn Statement 2022: dividend tax allowance cut to £1k

From April 2023, the dividend tax allowance will be halved to £1,000 from the current £2,000 with a further cut to follow

17 Nov 2022

Tax

Personal Tax

Budget

Image for autumn statement 2022 capital gains tax exemption cut ps6k

Tax | Autumn Statement 2022: capital gains tax exemption cut to £6k

The Chancellor plans to halve the capital gains tax exemption to £6,000 from the new tax year

17 Nov 2022

Tax | Autumn Statement 2022: 45% tax will start at £125k

The threshold for the additional rate of income tax will be reduced to pull more top earners into the 45p tax bracket

17 Nov 2022

Tax

Personal Tax

Budget

Image for hmrc sues ey over ritblat tax dispute

Tax | HMRC sues EY over Ritblat tax dispute

HMRC has filed a High Court lawsuit against EY over alleged misrepresentations concerning British property investor Jamie Ritblat’s tax affairs

16 Nov 2022

Tax

Personal Tax

HMRC

Image for save ps200 and access hardmans tax data free

Tax | Save £200 and access Hardman’s Tax Data for free

We wanted to remind you about a major enhancement we’ve made to Accountancy Daily, our essential news, analysis and insight platform for tax, audit and accounting

16 Nov 2022

Tax | Sign up for our succession planning webinar

Croner-I will be running a live webinar on the tax considerations of succession planning on Wednesday 16 November

15 Nov 2022

Tax | Tax authorities will have power to target cross-border crypto investors

Plans to introduce a crypto-asset reporting framework will see tax authorities exchanging investor details cross-border, explains Dion Seymour, crypto and digital assets technical director at Andersen LLP

14 Nov 2022

Tax

Personal Tax

International Tax

Image for how salary sacrifice schemes cars work

Tax | How salary sacrifice schemes for cars work

Using salary sacrifice schemes can benefit staff and reduce tax liability on company cars, explains James Fields-Davis, head of fleet development at Volkswagen Financial Services Fleet (VWFS Fleet)

10 Nov 2022

Tax | Why is the loan charge so harsh?

HMRC has taken a hard line on the loan charge, heavily penalising contractors who used the schemes, but can this approach be justified, asks Ray McCann CIOT (Fellow), ATT, CTA

9 Nov 2022

Tax | Basis accounting on profits set to change

HMRC is overhauling the way it assesses profits for sole traders and partnerships using an accounting date between 6 April and 30 March from the new tax year

9 Nov 2022