Tax Compliance

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Tax | Only 45% of businesses plan to sign up to Making Tax Digital for VAT before deadline

With six weeks to go to the launch of Making Tax Digital for VAT, HMRC research indicates 81% of VAT mandated businesses are aware of the new requirements and a similar proportion have started to prepare for the changes, although only 45% plan to sign up before the April deadline

20 Feb 2019

Making Tax Digital

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Tax | What does 'reasonable excuse' mean to the taxman?

A number of tax tribunal decisions every year revolve around HMRC’s interpretation of reasonable excuse, but it is the Upper Tribunal decisions which are important to watch. Meg Wilson CTA, specialist tax writer at Croner-i Tax and Accounting, examines the options for taxpayers considering an appeal and use of the reasonable excuse defence

20 Feb 2019

International Tax

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Tax | Call for 1p levy on fast fashion retailers

MPs are calling for a 1p producer responsibility charge for fashion retailers and say taxation should also be reformed to reward companies that offer clothing repairs and reduce the environmental footprint of their products

19 Feb 2019

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Tax | £47m support for developing countries to improve tax systems

The government is to offer developing countries a £47m package of support aimed at improving tax systems in a move aimed at helping end their reliance on aid, the Department for International Development (DFID) has announced

19 Feb 2019

International Tax

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Tax | VAT Q&A: registration for individuals over threshold

In our regular VAT Q&A series, Croner Taxwise advice consultant Janis Kirkham explains how to best register clients for VAT when they have exceeded the £85,000 threshold in 2017-18

19 Feb 2019

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Tax | Commuter belt St Albans worst offender for tax avoidance

Leafy Hertfordshire commuter town St Albans leads the UK for individuals admitting unpaid tax in terms of raw population, followed by Edinburgh and Slough

18 Feb 2019

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Tax | Clarification of settlement terms for disguised remuneration liabilities

HMRC has issued updated guidance to clear up a misunderstanding about the arrangements for settlement of disguised remuneration liabilities for loan charges in relation to inheritance tax (IHT)

18 Feb 2019

Law and Regulation

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Tax | Businesses not ready for Making Tax Digital VAT deadline

Nearly two thirds of businesses (64%) say that Making Tax Digital is a good idea but that they need more support with their plans ahead of the deadline of 1 April for mandatory digital VAT reporting, and only 12% are confident of their approach, according to research from KPMG

18 Feb 2019

Making Tax Digital

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Tax | Ignore email scams promising fake HMRC tax refunds

Scammers are targeting self assessment taxpayers by email claiming they are entitled to tax refunds and asking for bank details to transfer the money

18 Feb 2019

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Tax | Par for the course: top tax issues for sports stars

For top sporting athletes there are a number of tax compliance issues to keep an eye on, from being on the right tax code, to testimonial payments, image rights and agents’ fees. Elliott Buss, partner and head of sports group, UHY Hacker Young provides useful tips and advice for avoiding a confrontation with the taxman

18 Feb 2019

International Tax

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Tax | HMRC fines homeless man £1,600 for filing tax return late

HMRC’s behaviour has been described as a ‘scandal’ and ‘ridiculous’ after it issued £1,600 in fines to a homeless man who had filed his self assessment tax return late, with the tax authority claiming the man’s circumstances were not ‘special’

14 Feb 2019

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Tax | OECD consults on digital tax rule changes

The OECD has opened a public consultation on its ‘milestone’ proposals for changes to the taxation regime in response to the digitalisation of the economy, which include revisions to the arm’s length principle and a focus on taxing profits where they are derived

14 Feb 2019

International Tax

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Tax | Finance Act 2019 comes into force

The Finance Bill 2018-19 received Royal Assent on 12 February 2019 and became Finance Act 2019

13 Feb 2019

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Tax | HMRC opens agent services account to overseas applicants

HMRC has published guidance on how to apply for approval to get an agent services account for agent businesses based outside the UK, in an extension of its current functionality

13 Feb 2019

Making Tax Digital

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Tax | Indirect disposals of UK land bring non-residents into CGT

Changes to the capital gains tax (CGT) rules on sales of land mean that non-UK residents will be captured by the CGT regime for the first time from April 2019, raising complex tax compliance issues, explains Stephanie Webber CTA, tax writer at Croner-i

13 Feb 2019

International Tax

Law and Regulation

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Tax | Calls for tax relief to support investigative reporting

The government is being urged to consider proposals for new forms of tax reliefs to encourage payments for online news content and support local and investigative journalism

12 Feb 2019

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