Tax | Mini-umbrella companies set up to avoid tax

Around 48,000 mini-umbrella companies (MUC) have been created in the past five years in a bid to reduce the tax and national insurance contributions (NIC) paid by recruitment agencies

10 May 2021

Tax

Employment Tax

Tax Compliance

Tax | CIOT calls for reform of VAT repayment rules

The Chartered Institute of Taxation (CIOT) has welcomed the government’s decision to amend the Finance Bill but still calls for a wider rethink of plans to end the VAT repayment supplement, claiming it could be devastating for some businesses

7 May 2021

Tax

VAT

Tax Compliance

Tax | HMRC clarifies NICs payment rules for directors

HMRC has updated the guidance on how to work out national insurance contribution (NIC) payments for directors

7 May 2021

Tax

Personal Tax

Tax Compliance

Tax | Super deduction capital allowance - take it to the limit

Peter Rayney reviews the new 130% super deduction capital allowance rules introduced in the Budget 2021 explaining the potential complexities in applying them

6 May 2021

Tax

Business Tax

Tax Compliance

Tax Planning

Tax | Off-payroll working in the private sector - CPD module

In this month's exclusive Accountancy Daily CPD module, we look at the implications of the off-payroll working regulations for contractors in the private sector, with useful compliance tips and advice

5 May 2021

Tax

Employment Tax

Tax Compliance

Business

Training & CPD

Tax | Filing deadlines: May to June 2021

In our handy guide to tax filing deadlines, we provide an at-a-glance guide to key dates from cut-off for employers to give 2020/21 P60 forms to each employee who was working for them at 5 April 2021 and deadline for opting into the VAT deferral new payment scheme

5 May 2021

Tax

Business Tax

Employment Tax

Tax Compliance

Tax | Q&A: ATED and tax compliance on new dwellings

In our weekly Q&A, Vivienne Cheung, tax adviser at Croner Taxwise, examines whether the annual tax on enveloped dwellings (ATED) on high value residential properties is payable

4 May 2021

Tax

Property Tax

Tax Compliance

Tax | The unallowable purpose rule and loan relationships

Glyn Fullelove, tax writer at Croner-i, considers the importance of the unallowable purpose test for loan relationships in the light of updated HMRC guidance and recent cases

28 Apr 2021

Tax

Business Tax

Tax Compliance

Case Reports

Tax | Making Tax Digital is the priority for HMRC

Jesse Norman MP, financial secretary to the Treasury, has told businesses and accountants at the annual HMRC stakeholder conference that HMRC’s priorities for the future of the tax system will heavily involve Making Tax Digital (MTD)

27 Apr 2021

Tax

Making Tax Digital

Personal Tax

HMRC

Tax Compliance

Tax | HMRC security checks delay tax refunds

HMRC is delaying the payment of self-assessment tax refunds and threatening to remove individuals from the self-assessment regime if extensive and onerous information is not provided, says accountants Hillier Hopkins

27 Apr 2021

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Q&A: fair value adjustments and tax

In our weekly Q&A, Croner Taxwise tax advisor Seb Lord assesses the tax liability for intercompany loans where an investment property has devalued

27 Apr 2021

Tax

Business Tax

Property Tax

Tax Compliance

Tax | Penalties for failures on country-by-country reporting capped at £3k

HMRC has issued guidance setting out the penalty regime for companies failing to follow country-by-country reporting rules

26 Apr 2021

Tax

Business Tax

International Tax

HMRC

Tax Compliance

Tax | Capital gains tax on residential property – the 30-day rule

Capital gains tax (CGT) on property is charged at different rates and for residential property, it is now a requirement to report and pay any taxable gains within 30 days of the completion of a sale, warns accountancy firm Alexander & Co

23 Apr 2021

Tax

Property Tax

Tax Compliance

Tax | HMRC clarifies tax split on payments to football agents

HMRC has released updated guidance in relation to the payment of football agents, particularly where those agents have worked on behalf of both club and player in brokering a transfer or new contract, known as dual representation

21 Apr 2021

Tax

Personal Tax

HMRC

Tax Compliance

Tax | Customs duty – tips on trading between GB and Northern Ireland

Complex border rules between Great Britain and Northern Ireland post-Brexit mean that companies must be careful to ensure full compliance with customs rules. Sarah Kay provides essential tips and advice

21 Apr 2021

Tax

VAT

HMRC

Tax Compliance