Tax Compliance

Latest news

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Tax | Covid-19 grants must be included on tax returns

HMRC is reminding self assessment customers to declare any Covid-19 grant payments on their 2020/21 tax return, including SEISS claims which are taxable

15 Dec 2021

Tax | Q&A: recovery of inheritance tax – time limits

In our regular Q&A series, Croner Taxwise trainee tax adviser Alexander McCarthy considers whether inheritance tax is payable on an asset missed out of the original return and any penalty implications

14 Dec 2021

Tax

Personal Tax

Tax Compliance

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Tax | HMRC clarifies penalty regime for soft drinks levy

Following the introduction of the soft drinks levy, HMRC has clarified the penalty regime for non-payment of the sugar tax, first introduced in 2018

14 Dec 2021

Tax | Call for review of ‘fundamentally flawed’ loan charge

MPs are calling for an urgent review of the loan charge, stating that it is fundamentally flawed and unfair, and questioning why no scheme promoters have been prosecuted

9 Dec 2021

Tax

Personal Tax

Tax Compliance

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Tax | Crypto traders should write a Will to avoid tax bill

Investing in cryptoassets is a risky business if investors do not write in protection to their will as tax bills could quickly mount, warns Chris Etherington, tax partner at RSM

9 Dec 2021

Tax

Personal Tax

Tax Compliance

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Tax | Motoring expenses part 2 – recovering VAT on expenses

The intricacies of the rules around motoring expenses and VAT recovery can be problematic. Sarah Kay, tax writer at Croner-i, examines the compliance issues around hiring and leasing costs, repairs and maintenance, road fuel and the charging of electric vehicles

8 Dec 2021

Tax

Business Tax

Tax Compliance

Image for tax dodging drivers expected cost treasury ps119m

Tax | Tax-dodging drivers expected to cost Treasury £119m

The latest Department for Transport (DfT) figures show that 1.9% of vehicles in the UK are unlicensed and being used which amounts to £119m in potential lost car tax

7 Dec 2021

Tax

Tax Compliance

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Tax | Corporation tax loss carry-back: temporary extension - CPD module

In this month’s exclusive Accountancy Daily CPD module, we look at the corporation tax loss carry back rules, which have been temporarily extended from 12 months to three years due to the pandemic

3 Dec 2021

Tax | Filing deadlines: December 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from the deadline for PAYE electronic payments to filing corporation tax returns for accounting periods ended 31 December 2020

2 Dec 2021

Tax

Tax Compliance

Tax Planning

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Tax | HMRC to set targets for resolving long running enquiries

Large businesses are on the whole positive about their relationship with HMRC but warn that the level of service can be inconsistent and some advisers do not have the experience to deal with complex corporate tax queries

1 Dec 2021

Tax | Government rejects plans to reform capital gains tax

The Treasury has rejected plans proposed by the Office of Tax Simplification (OTS) to overhaul inheritance tax but has made a few concessions on capital gains tax to simplify the complex rules

1 Dec 2021

Tax | HMRC wants more powers to clamp down on non-payers

The government plans to ratchet up its activity against the most recalcitrant businesses and individuals who fail to pay tax bills giving HMRC more powers to act, particularly against ecommerce businesses with no tangible UK footprint

30 Nov 2021

Tax | Largest companies pay £6.3bn in corporation tax

The UK’s biggest listed companies generated £77.1bn in tax during the pandemic-hit 2020/21 financial year, while the average tax rate was 54% when employment taxes are factored in, finds PwC analysis

30 Nov 2021

Tax

Tax Compliance

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Tax | SIA and HMRC raids to crack down on tax fraud by security guards

The Security Industry Authority (SIA) and HMRC have carried out joint operations in London, Bradford and Glasgow to ensure that security staff were employed legitimately and were paying tax

29 Nov 2021

Tax | The need to simplify the VAT land exemption

Supplies of land are usually exempt from VAT unless the landowner has opted to tax the land, in which case the supply is standard rated, but there are exemptions, explains Julie Butler FCA

29 Nov 2021

Tax | How to prepare your practice for the next stage of MTD

The one-year delay to the introduction of the next phase of Making Tax Digital (MTD) for income tax means that accountants have more time to prepare, but it is still a priority, explains Emily Coltman, chief accountant at FreeAgent

25 Nov 2021

Tax

Making Tax Digital

Tax Compliance

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Tax Services

Latest news

Tax | Covid-19 grants must be included on tax returns

Tax | Q&A: recovery of inheritance tax – time limits

Tax | HMRC clarifies penalty regime for soft drinks levy

Tax | Call for review of ‘fundamentally flawed’ loan charge

Tax | Crypto traders should write a Will to avoid tax bill

Tax | Motoring expenses part 2 – recovering VAT on expenses

Tax | Tax-dodging drivers expected to cost Treasury £119m

Tax | Corporation tax loss carry-back: temporary extension - CPD module

Tax | Filing deadlines: December 2021

Tax | HMRC to set targets for resolving long running enquiries

Tax | Government rejects plans to reform capital gains tax

Tax | HMRC wants more powers to clamp down on non-payers

Tax | Largest companies pay £6.3bn in corporation tax

Tax | SIA and HMRC raids to crack down on tax fraud by security guards

Tax | The need to simplify the VAT land exemption

Tax | How to prepare your practice for the next stage of MTD