Tax Compliance

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Tax | Bull: national insurance u-turn saves self-employed £550 a year

The government's reversal on the proposed abolition of Class 2 national insurance contributions for the self-employed has been greeted with general dismay but it should be a cause for celebration, says George Bull, senior tax partner at RSM

17 Sep 2018

Tax | Entrepreneurs’ relief and the equity dilution trap

Entrepreneurs’ relief (ER) can easily be lost due to the dilutive effect of a subsequent share issue – but help is at hand, explains Peter Rayney FCA, CTA (Fellow), TEP

14 Sep 2018

Tax | EU threshold for VAT on digital services from 2019

HMRC has launched a short technical consultation on draft statutory instruments covering changes to the VAT treatment of business to consumer supplies of digital services, which introduce a new €10,000 (£8,894) threshold for total supplies to the EU in a year of sales

12 Sep 2018

Tax | Apprenticeship levy cuts number of training schemes

The first year since the introduction of the apprenticeship levy has seen the number of apprenticeship starters drop by 137,000, although Chancellor Philip Hammond said this decline was expected with more businesses choosing to use their funds for higher-level training programmes

12 Sep 2018

Tax | Salary sacrifice schemes: what are VAT implications?

Salary sacrifice schemes, under which employees agree to a reduction in salary in exchange for certain benefits, may have VAT implications for the employer. Sarah Kay, tax writer at Croner-i, looks at whether VAT was owed on salary sacrifice schemes in the recent Pertemps case

12 Sep 2018

Tax | HMRC posts 6% rise in fraud investigation tax take

HMRC’s elite fraud team, the fraud investigation service (FIS), collected £5.47bn in extra tax last year, an increase of £300m (6%) from the previous year, according to analysis by Pinsent Masons which suggests tax authorities are taking advantage of wider powers to launch civil investigations

11 Sep 2018

Tax | Q&A: VAT recharges versus disbursements

Tony Chamberlain, VAT adviser at Croner Taxwise explains the differences between recharges and disbursements when reclaiming expenses for consulting work via a VAT-registered business

11 Sep 2018

Tax | Treasury abandons plan to abolish Class 2 NICs

The government has announced that it is not going to proceed as planned with the abolition of Class 2 national insurance contributions (NICs), which was originally scheduled for April 2018, then delayed to April 2019

7 Sep 2018

Tax | HMRC under fire from MPs over biometric phone recordings

HMRC has been criticised by MPs regarding the standards of data protection it maintained while collecting biometric data on customers for security purposes, a process that generated complaints from taxpayers, at a PAC hearing into HMRC performance

6 Sep 2018

Tax | Late payment penalty regime ‘unfair’ for taxpayers, warns ATT

HMRC’s plans to introduce a new penalty regime for late payment of tax have been strongly criticised by the Association of Taxation Technicians (ATT), which says the proposals risk producing unfair outcomes for taxpayers who had agreed to pay tax liabilities by instalments

6 Sep 2018

Tax | OECD says corporate tax rates in ‘race to the average’

Tax reforms are accelerating worldwide, with the trend towards pushing down corporate tax rates in order to boost investment gaining momentum over the last two years, according to analysis from the OECD

5 Sep 2018

Tax | Malkin: preparing for a no deal Brexit and the impact on tax

Although there is still little detail on the UK’s exit from the EU, the government has published guidance on how to prepare for a no deal scenario. Jane Malkin, European head of tax development at Tax Systems, explains how a no deal Brexit will affect tax and provides tips on steps businesses can take to prepare

5 Sep 2018

Tax | VAT126 guidance for VAT refunds for charities updated

HMRC has issued VAT126 guidance for charities and local authorities on how to claim a VAT refund when the organisation is not registered for VAT

4 Sep 2018

Tax | HMRC updates venture capital schemes advance assurance advice

HMRC has updated its guidance on applying for venture capital schemes to include a requirement to check scheme conditions and provide potential investor details before applying for advance assurance

4 Sep 2018

Tax | AAT calls for tax reform rather than tax rises

Scrapping the marriage allowance and switching stamp duty land tax (SDLT) liability from buyer to seller are among a raft of recommendations put forward by the Association of Accounting Technicians (AAT) as a way of raising over £27bn to plug the government’s spending gap without further tax rises

4 Sep 2018

Tax | Q&A: non-resident capital gains tax

Angela Robson, tax consultant at Croner Taxwise, considers whether a non-resident UK homeowner is liable for capital gains tax when selling a UK residential property and whether there are any tax reliefs available

4 Sep 2018