Tax Compliance

Latest news

Image for leading institutes back lords call mtd delay

Tax | Leading institutes back Lords call for MTD delay

A recommendation by a Lords committee that the government’s introduction of mandatory Making Tax Digital (MTD) for VAT should be delayed by at least one year is supported by the Low Incomes Tax Reform Group (LITRG), CIOT and the ICAEW

23 Nov 2018

Tax | Call to modernise inheritance tax collection

Too many people have to fill in inheritance tax (IHT) forms, and the process is complex and old fashioned according to the Office of Tax Simplification (OTS), which says HMRC should revise all of its guidance and look to improve the experiences of those dealing with the tax

23 Nov 2018

Tax | First-time buyers relief costs £426m a year

On the one-year anniversary of first time buyers relief (FTBR), HMRC statistics show more than 180,500 first time buyers have benefited from the cut in stamp duty land tax (SDLT), although receipts overall were 9% lower in the past three months compared with last year

22 Nov 2018

Tax | 30 months to build Brexit IT systems, HMRC tells committee

Appearing before the Treasury committee, senior HMRC figures including Jon Thompson admitted that building post-Brexit IT systems could take longer than two years, and defended HMRC’s approach to tackling disguised remuneration arrangements

22 Nov 2018

Tax | Lords call for delay in Making Tax Digital for VAT until 2020

A Lords committee has issued a scathing report on HMRC’s Making Tax Digital (MTD) for VAT program, due to come into full effect in April 2019, attacking HMRC’s unrealistic timeframe, lack of communication with businesses, and failure to improve following previous criticism

22 Nov 2018

Tax | Nunn: structures and buildings allowance is revamped tax relief

The announcement of the Structures and Building Allowance in the Budget marks the return of an old tax relief revamped for the modern era, says Yvette Nunn CTA, founder of Berkeley Associates

22 Nov 2018

Tax | DUP silence allows Finance Bill amendments through

Divisions over the government’s Brexit agreement has caused Northern Ireland’s Democratic Unionist Party (DUP) to deliver a stinging blow by failing to back the government on amendments to the Finance Bill proposed by opposition parties

21 Nov 2018

Tax | Meghan Markle’s tax status puts Royal finances in view

Meghan Markle could be bringing more than a touch of Hollywood glamour to her new role as Duchess of Sussex, with reports that the former actress may also be adding to the Royal Family’s tax complications while she remains a US citizen

21 Nov 2018

Tax | MPs to examine BBC freelancers’ personal service companies

The BBC’s relationships with freelancers and personal service companies (PSCs) are set to come under scrutiny once again by the public accounts committee (PAC), in the wake of a recent tribunal decision which denied one presenter IR35 status

21 Nov 2018

Tax | HMRC updates VAT mini one stop shop guidance

HMRC has issued updated guidance on registering for the VAT mini one stop shop (MOSS) scheme, with new information about invoicing, leaving the scheme and which return to use to declare VAT

21 Nov 2018

Tax | UK ranked second in G20 for tax compliance

The UK has the second most effective tax system in the G20 for the ease of paying business taxes, with companies taking an average of 105 hours to prepare and file taxes, but remains outside the global top 20, according to research by PwC and the World Bank

21 Nov 2018

Tax | HMRC gets sweet return in first six months of sugar tax

The latest statistics on turnover from the soft drinks industry levy (SDIL), commonly known as the sugar tax, show that it has been effective in reducing sugar in drinks and raising revenue following its introduction in April 2018

20 Nov 2018

Tax | BHP Billiton agrees A$500m Australian transfer pricing settlement

The Anglo-Australian mining, metals and petroleum multinational BHP Billiton has reached an agreement with the Australian Taxation Office (ATO) to settle a long-running transfer pricing dispute

20 Nov 2018

Tax | Q&A: off-payroll liabilities and statutory payments

Emma Fryer, payroll advisor at Croner Taxwise, looks at the responsibility of the fee-payer of an off-payroll worker and the liability to statutory payments of a personal service company

20 Nov 2018

Tax | Tech giants to fight EU ‘link tax’

Tech giants are redoubling their opposition to moves by the European Parliament to update online copyright laws, amid claims that some of the new provisions amount to a ‘link tax’ for providers like Google who republish content

19 Nov 2018

Tax | Alder: HMRC should be required to correct their own records

The taxpayer’s life is once being put through the wringer in trying to comply with HMRC’s latest initiative, requirement to correct (RTC), says Nick Alder, tax investigations partner at Kreston Reeves

19 Nov 2018