Tax Compliance

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Tax | HMRC tackles VAT avoidance via offshore looping

HMRC has amended legislation to shut down a VAT avoidance scheme in which financial services exploit current rules using offshore looping

19 Jul 2018

Tax | Armed forces to be compensated for Scottish tax differential

The Ministry of Defence (MOD) is to compensate thousands of military personnel based in Scotland against being left out of pocket because of differences between the Scottish tax regime and that used elsewhere in the UK, with top-up payments to be made each year

19 Jul 2018

Tax | HMRC guidance on disguised remuneration scheme loan charges

HMRC has issued guidance on disguised remuneration schemes, whereby loans are paid instead of ordinary income to avoid income tax and National Insurance contributions (NICs), with users of such tax avoidance schemes now facing charges if they have not repaid their loan or agreement settlement by 5 April 2019

18 Jul 2018

Tax | HMRC clarifies VAT treatment of car dealer deposit contributions

HMRC has published a brief explaining its policy on the VAT accounting treatment of car sales promotions where payments are said to be made by motor dealers to finance companies on behalf of the end customer, amid concerns that dealerships and others are adopting different approaches to these dealer deposit contributions (DDCs)

18 Jul 2018

Tax | Post-Brexit VAT non-alignment to add to consumer costs

An amendment to the Brexit customs paper, passed by a narrow majority in Parliament on Monday, which will see the UK exit the EU VAT regime is also likely to increase costs for UK consumers buying goods directly from EU businesses, RSM is warning

18 Jul 2018

Tax | Company car tax: key issues for fleet managers

Nigel Morris, tax director, MHA MacIntyre Hudson examines the current state of company car taxation and the key issues for fleet managers

18 Jul 2018

Tax | HMRC under fire over ‘mutuality of obligation’ in contractor jobs

HMRC has come under fire for failing to include a test for mutuality of obligation (MOO) as part of its check employment status for tax (CEST) tool used to determine whether or not public sector contractors fall within the IR35 framework, amid claims this approach will prove unworkable if it is extended to the private sector

16 Jul 2018

Tax | Inheritance tax accounts IHT400: clarifying the timeline

HMRC has succumbed to pressure from practitioners and estate administrators to provide a timeline for when replies to submitted inheritance tax accounts IHT400 will be received. Rebecca Goldring, manager at Blick Rothenberg explains

16 Jul 2018

Tax | HMRC delays Making Tax Digital for VAT trial for businesses

HMRC has assessed 18 software suppliers as having met its requirements for Making Tax Digital for VAT, ahead of the mandatory deadline for online filing next April, while its public trial for businesses who will have to keep and submit digital records will not now start until later this year

13 Jul 2018

Tax | Hi-tech boost to employee share schemes

The number of employee share schemes hit a record high in the UK in 2016/17, as incentive becomes increasingly popular amongst tech start-ups, according to analysis by Moore Stephens

13 Jul 2018

Tax | 17% increase in time taken to answer calls at HMRC

HMRC is answering taxpayers’ calls 34 seconds slower (17%) on average than last year with answering times hitting four minutes and 28 seconds, according to the tax authority’s latest accounts, despite the overall quantity of calls dropping by 10%

12 Jul 2018

Tax | US tax authority failing to tackle FATCA compliance

Despite spending nearly $380m (£287m), the Internal Revenue Service (IRS) is failing to enforce compliance with the Foreign Account Tax Compliance Act (FATCA), which is designed to ensure US taxpayers report foreign financial assets and offshore accounts

12 Jul 2018

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Tax Compliance

Image for government fails tackle unpaid carers earnings anomalies

Tax | Government fails to tackle unpaid carers’ earnings anomalies

The government should do more to secure the financial position of unpaid carers, and tackle the difficulties caused by the interactions between carer’s allowance, the minimum wage and tax credits, the Low Incomes Tax Reform Group (LITRG) is warning

12 Jul 2018

Tax | Centralised EU VAT system: moving towards single one-stop shop

Is a definitive EU VAT system closer to being realised with Germany’s acceptance of a one-stop shop (OSS) for VAT on distance sales, asks Nicholas Hallam, CEO of Accordance

11 Jul 2018

Tax | HMRC consults on changes to civil information powers

HMRC has launched a 12-week consultation on potential changes to its civil information powers, with a focus on the way it which it requests information from third parties, and the penalty regime

10 Jul 2018

Tax | FB 2018-19: controlled foreign company rules tweaked for ATAD compliance

Due to the introduction of the EU Anti-Tax Avoidance Directive (ATAD) before Brexit, the government plans to amend the tax rules on controlled foreign companies (CFCs) to ensure ongoing compliance

10 Jul 2018