Tax Compliance

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Image for ftt rejects taxpayers appeal over unsolicited tax returns

Tax | FTT rejects taxpayer’s appeal over ‘unsolicited’ tax returns

A taxpayer who had always paid tax at source under PAYE and submitted unsolicited tax returns in an attempt to address overpayments, has lost an appeal at tax tribunal over HMRC’s refusal to accept the returns

11 Apr 2019

Tax | HMRC trials payroll changes to earlier year updates (EYU)

In a bid to improve payroll reporting, HMRC is running a trial aimed at simplifying the process for reporting corrections by extending the use of the real time information (RTI) full payment submission (FPS)

11 Apr 2019

Tax | OECD wants tax help for middle class

Governments need to do more to support struggling middle-class households, with help such as targeted grants, financial support for loans and tax relief for home buyers, according to a report from the OECD which says it has become more difficult for younger generations to make it to the middle class

11 Apr 2019

Tax | Business must plan to avoid Easter BACS payment delays

With Easter 2019 just around the corner, business owners are being urged to plan ahead if they are to avoid missing payments to staff and suppliers over the long Easter bank holiday weekend, according to advice from Pay.UK, which acts as the single operator for all UK retail payments

11 Apr 2019

Tax | Taxpayers fight back as number of tax tribunals surges

Disputes between HMRC and taxpayers are increasing as the tax authority makes greater use of data collected from banks and foreign tax authorities, and more cases head to tax tribunals

10 Apr 2019

Tax | Tax compliance and loss relief for worthless assets

Stephanie Webber ACA CTA examines the tax compliance issues for assets that have become worthless, considering capital gains tax liability, tangible and intangible assets, negligible value claims and crystallising losses under Taxation of Chargeable Gains Act 1992

10 Apr 2019

Tax | Lifetime allowance for pensions increases to £1.05m

The standard lifetime allowance for pensions has increased by £25,000 in line with CPI inflation to £1,055,000 for the new tax year from 6 April

9 Apr 2019

Tax | Treasury revises oil and gas tax history compliance

The Treasury has published detail of the alternative schedule to the decommissioning relief deed (DRD) that oil and gas companies are required to sign before they elect to transfer their tax history

9 Apr 2019

Tax | Q&A: interim dividends and distributable reserves

In our regular Q&A series from Croner Taxwise, tax adviser Alexander Fielding considers the legal and tax implications of paying interim dividends when a company has insufficient distributable reserves

9 Apr 2019

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Image for hmrc call centre connection times deteriorate

Tax | HMRC call centre connection times deteriorate

One in five taxpayers are not satisfied with HMRC’s digital services despite the tax authority’s push to move all services online, while wait times to speak to an adviser worsened in February with nearly a third of callers waiting more than 10 minutes to speak to an adviser

8 Apr 2019

Tax | Payslips mandatory for all workers from 6 April

Almost 300,000 workers who previously did not receive a payslip will now do so starting from this week, including those on casual and zero-hours contracts, as part of the government's Good Work Plan reforms

8 Apr 2019

Tax | IFS slams failure to uprate tax thresholds

As the new tax year starts, having thresholds in the tax system which do not rise with prices means increasing numbers of people are being drawn into higher tax bands in a way which is neither planned nor transparent, the Institute for Fiscal Studies (IFS) is claiming

8 Apr 2019

Tax | Dodwell: digitising tax system removes control from taxpayers

In the face of tax digitisation, HMRC may be removing control over tax contributions from individuals to the state. Bill Dodwell, head of tax policy at the Office of Tax Simplification (OTS) argues that a review of the design of the tax system is overdue

8 Apr 2019

Tax | Annual money laundering supervision fee for accountants rises 130%

From 1 May, the annual renewal fee for money laundering supervision will more than double from £130 to £300 per premises, an increase of 130%

5 Apr 2019

Tax | McCann: loan charge and time limits seem retrospective

Technically, the disguised remuneration loan charge is a retroactive rather than retrospective tax measure, but ill-thought legislation undermines the principle of certainty for taxpayers, warns Ray McCann CTA (Fellow), president of CIOT

5 Apr 2019

Tax | IRS failing to deal with overseas assets data

The US tax authorities are having trouble dealing with the information they receive from foreign banks about US taxpayer assets under the Foreign Account Tax Compliance Act (FATCA) because of problems with the data and various mismatches, according to a report from the Government Accountability Office (GAO)

4 Apr 2019