Tax Compliance

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Tax | HMRC plans for profit fragmentation are a step too far

Andy White, senior partner at CBW, examines whether the tax authority’s latest attempts to clampdown on tax avoidance through a curb on profit fragmentation are really necessary and, more importantly, how they could fundamentally infringe upon taxpayers’ rights

14 Jun 2018

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Tax | BEPS minimum standards: review of recent developments

Paul Davies, tax writer at Croner-I, takes a closer look at recent development in relation to the four Base Erosion and Profit Shifting (BEPS) minimum standards covering transfer pricing, country by country reporting and dispute resolution

13 Jun 2018

International Tax

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Tax | Making VAT Digital: top tips for businesses

If your business is registered for VAT and has a taxable turnover of over £85,000, from 1 April 2019 businesses will have to comply with new Making Tax Digital VAT rules or face fines of up to 15% of their annual VAT bill, warns Alison Horner, VAT partner at MHA MacIntyre Hudson

13 Jun 2018

Making Tax Digital

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Tax | AAT calls for scrapping of inheritance tax reliefs

Many of the current exemptions and rules around inheritance tax (IHT) are too complicated, not widely understood and should be scrapped according to the Association of Accounting Technicians (AAT), which says there is a case for getting rid of IHT altogether

12 Jun 2018

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Tax | Deloitte UK signs BAL deal on immigration compliance

Deloitte UK and law firm Berry Appleman & Leiden LLP (BAL) have set up an alliance to offer an immigration service for global employers

11 Jun 2018

Accountancy Firms

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Tax | Tax compliance for non-doms becoming UK resident

As tax residency and jurisdiction becomes increasingly political, Chris Downing, tax director at Inspire Accountants, considers the treatment of high net worth individuals coming to the UK, based on the position of a non-domiciled individual becoming resident in the UK for tax purposes

11 Jun 2018

International Tax

Image for four month extension disguised remuneration loan settlement offer

Tax | Four-month extension to disguised remuneration loan settlement offer

HMRC has extended the deadline for contractors and others who have used disguised remuneration loan schemes by an additional four months to take advantage of a settlement opportunity announced late last year, by extending the deadline for providing information to 30 September

8 Jun 2018

Image for buy let landlords face shorter cgt payment window

Tax | Buy-to-let landlords face shorter CGT payment window

Owners of second homes and buy-to-let (BTL) landlords face a much shorter period in which to pay any capital gains tax (CGT) due on property sales from April 2020, the Association of Taxation Technicians (ATT) is warning

8 Jun 2018

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Tax | Call for all companies to disclose tax planning

There is strong public support for more robust UK government intervention to encourage responsible tax planning by business, according to research from the Fair Tax Mark

7 Jun 2018

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Tax | EU mandatory tax disclosure rules in force

HMRC is flagging up changes to the EU mandatory disclosure rules which mean there are new requirements starting this month with intermediaries having to report certain cross border, tax-planning arrangements to tax authorities, in a bid to tackle aggressive tax avoidance

6 Jun 2018

Law and Regulation

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Tax | Aston Villa football club facing £4m tax bill

Championship side Aston Villa has received a £4.2m tax bill and could face a winding up order from HMRC if it does not make payment within seven days, while the football club has admitted that its failure to win promotion to the Premiership has created financial difficulties

6 Jun 2018

Image for curran why extending offshore limit 12 years wrong decision

Tax | Curran: why extending offshore limit to 12 years is wrong decision

Government plans to extend offshore time limits for non-tax compliance to minimum 12 years have been met with strong opposition, says CIOT technical officer Margaret Curran CTA

6 Jun 2018

International Tax

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Tax | IRS offers waivers over repatriation tax

The Internal Revenue Service (IRS) is to offer waivers for expatriate Americans who faced late payment penalties relating to the new 15.5% one-off ‘transition tax’ on untaxed foreign earnings, introduced in the landmark Tax Cuts and Jobs Act at the end of last year

5 Jun 2018

International Tax

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Tax | Cannabis tax ‘could bring in £3.5bn’

The Treasury stands to collect between £1.4bn and £3.5bn annually if it introduced a tax on cannabis sales, based on analysis of the tax take from other regulated markets, according to the charity Health Poverty Action

4 Jun 2018

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Tax | Uganda introduces ‘WhatsApp’ tax

The parliament in Uganda has passed a controversial law imposing a tax on citizens using social media and internet messaging services, which is scheduled to be introduced on 1 July

1 Jun 2018

International Tax

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Tax | VAT updates: June 2018

Graham Elliott, VAT expert at City & Cambridge Consultancy asks when a charity is not a charity following Wakefield College VAT decision, whether goods or services in paragon, language barrier reasonable excuse

1 Jun 2018

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