Tax Compliance

Latest news

Image for hmrc support taskforce waste crime

Tax | HMRC to support taskforce on waste crime

HMRC has signed up to a new government taskforce dedicated to tackling serious and organised waste crime, such as dumping hazardous materials on private land and falsely labelling waste so it can be exported abroad to unsuspecting countries

16 Jan 2020

Tax

HMRC

Tax Compliance

Image for maturing child trust funds will retain tax free status

Tax | Maturing child trust funds will retain tax free status

Holders of child trust fund accounts will be able to transfer their funds tax free when they start maturing in September, marking the scheme reaching 18 years

16 Jan 2020

Tax | Flybe saved by deferral of £106m flight tax bill

The government has caved into pressure from regional UK airline carrier, Flybe, which was flying in the face of potential administration, delaying payment on a £100m plus tax bill for airline passenger duty

15 Jan 2020

Restructuring & Insolvency

Image for non doms invest record ps1bn using tax break

Tax | Non-doms invest record £1bn using tax break

Non-domiciled individuals are putting record amounts into a government tax break designed to encourage investment in UK businesses

15 Jan 2020

Tax | Tips for taxpayers: Making Tax Digital for VAT

Nine months since the launch of Making Tax Digital (MTD) for VAT, late adopters have only filed once under the new system, some not even using accounting software due to the soft landing penalties regime. Philip McNeill and Dr Sarah McNeill explain the key compliance issues

15 Jan 2020

Tax | Kickboxing company loses VAT dispute

Kickboxing company Premier Family Martial Arts LLP has lost a VAT dispute with HMRC, as they tried to appeal that kickboxing should be exempt from VAT because it is a form of tuition, covering a subject that is part of school education

14 Jan 2020

Tax | Rules on cross-border tax disclosure under DAC 6 refined

The government has published legislation requiring taxpayers and their advisers to disclose details of certain cross-border arrangements to HMRC as part of moves to crack down on tax avoidance, but has watered down the original penalty regime

14 Jan 2020

Tax | Steakhouse boss gets the chop over tax

The boss of a Hampshire steakhouse has been banned from running companies for six years after submitting inaccurate information to the tax authorities for several years, following an Insolvency Service investigation

14 Jan 2020

Tax | Q&A: directors’ loans and tax liability

In our regular Q&A series from Croner Taxwise, Alexander McCarthy explores how to minimise interest on a benefit loan charge

14 Jan 2020

Tax | Nunn: Budget wishlist in time of uncertainty

The UK now has a political party with a working majority which should give the Brexit process the backing it needs, but Yvette Nunn CTA ATT MAAT, director of Berkeley Associates is sceptical that this will end tax uncertainty for business

14 Jan 2020

Tax | HMRC releases contractor factsheet on IR35 rules

HMRC has updated its guidance on the extension of existing off-payroll working rules (IR35) to the private sector, scheduled for April, with a new contractor factsheet setting out the changes

13 Jan 2020

Tax | VAT in 2020 – post-Brexit implications

With Brexit on the verge of being finalised, at least at stage one, Alison Horner, indirect tax partner at MHA MacIntyre Hudson, looks at the impact on VAT and cross-border transactions post 31 January

13 Jan 2020

Tax | Sussex split creates Royal tax headache

The Duke and Duchess of Sussex’s shock decision to break with tradition, spend more time abroad and seek to pursue separate financial arrangements from other senior members of the Royal family looks set to raise a number of complex trans-Atlantic tax issues

13 Jan 2020

Tax | HMRC rushes out guidance on new AML regulations

HMRC has published outline guidance on the changes to the regulations on money laundering and terrorist financing, which have been extended to cover lettings agents and art dealers from mid-January, with more detailed information set to follow

13 Jan 2020

Tax | Norton Motorbikes faces £300k tax bill

Classic motorbike brand, Norton, was in the insolvency court this week to try to resolve a dispute with HMRC over a demand for hundreds of thousands in tax

10 Jan 2020