Tax Compliance

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Image for vat qa sub letting surplus office premises

Tax | VAT Q&A: sub-letting surplus office premises

In our regular VAT Q&A series, Croner Taxwise adviser Priyesh Mistry considers the VAT treatment of sub-letting surplus space and the option to tax rules

5 Feb 2019

Tax | Scottish budget passed after deal with Green party

The Scottish Budget was approved by 67 votes to 58 with Finance Secretary Derek Mackay getting backing from Green MSPs, after he agreed to boost to local government funding and implement an alternative system to council tax

1 Feb 2019

Tax | 700,000 taxpayers miss self assessment deadline

A record 93.68% of self assessment tax returns were completed by yesterday’s midnight deadline, with 700,000 taxpayers filing last night, according to HMRC

1 Feb 2019

Tax | Call for rethink on first time buyers relief

HMRC reports more than 241,000 first time homeowners have pocketed the cash they would have spent on stamp duty land tax (SDLT), saving a total of £570m since first time buyers relief (FTBR) was introduced, but the Association of Accounting Technicians (AAT) has branded the scheme ‘costly and bureaucratic’

1 Feb 2019

Tax | UK tax reliefs top £164bn

The UK’s tax relief bill grew to a record £164bn in 2018-19, significantly more than the health budget, but are being distributed unequally between households, according to research from the Resolution Foundation based on the latest figures from HMRC

1 Feb 2019

Tax | Employment tax updates: February 2019

In our monthly roundup of employment tax developments HMRC releases P11D guidance to clarify OpRA rules, Treasury to review 2019 loan charge

1 Feb 2019

Tax | Tax updates: February 2019

This month's review of tax cases and tax news including taxpayer loses £1m Excalibur scheme appeal, HMRC targets multinationals with profit shifting disclosure, tribunal confusion over BlackRock VAT for financial services case

1 Feb 2019

Tax | Filing deadlines: Feb - Jul 2019

The key HMRC filing deadlines from February to July 2019 including Forms P46(Car) for quarter ended 5 Jan, PAYE cheque payments for month ended 5 Feb and payment of outstanding income and CGT in respect of personal tax returns for 2017/18 to avoid 5% surcharge

1 Feb 2019

Tax | Charities urged to prepare for Making Tax Digital VAT

The Charity Commission is urging trustees to ensure charities are getting ready for the implementation of Making Tax Digital for VAT, which starts on 1 April

31 Jan 2019

Tax | Taxpayer loses £1m ‘Excalibur’ scheme appeal

A taxpayer claiming £1m in tax relief in respect of a £1m capital loss arising from investment in the ‘Excalibur’ tax scheme has lost his appeal at an Upper Tribunal, opening the way for HMRC to reclaim an estimated £155m in tax from other scheme members

31 Jan 2019

Tax | Tax data: CGT data, HMRC rates of interest - Feb 2019

Download the HMRC CGT indexation allowance for December 2017 onwards, RPI Index for December 2018 and HMRC rates of interest, and the current stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

31 Jan 2019

Tax | OECD to spearhead changes to corporate tax for digitised economy

The OECD is to push for global agreement on a new approach to corporate taxation to meet the challenges arising from digitalisation of the economy, which would include revisions to the arm’s length principle and a focus on taxing profits where they are derived, with the aim of introducing new rules by 2020

30 Jan 2019

Tax | ‘Off-plan’ purchases and capital gains tax post-Higgins

Mark Cawthron, tax writer at Croner-i, looks at how prospective purchasers of flats off-plan, and developers offering such flats, might think about reacting to the decision in the recent case of Higgins, with a view to seeking to mitigate or remove such difficulty

30 Jan 2019

Tax | Why the Beatles' legacy lives on in tax

As this week reveals the UK’s top taxpayers, George Bull and Andrew Hubbard at RSM, consider how attitude has switched over the years with the highest earners publicly stating how much tax they pay and the US proposing a super-tax on multi-millionaires

30 Jan 2019

Tax | Spring Statement set two weeks before Brexit

The Chancellor of the Exchequer, Philip Hammond, has announced that the government will publish its next Spring Statement on Wednesday 13 March 2019

29 Jan 2019

Tax | HMRC releases P11D guidance to clarify OpRA rules

HMRC has issued basic guidance on how to complete 2017-18 forms P11D returns for PAYE internet submissions, expenses and benefits, and stressed compliance with 2017 rule change to salary sacrifice arrangements

29 Jan 2019