Tax Compliance

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Tax | Tax updates: February 2018

This month's review of tax cases and tax news including tax avoidance scheme closure notices, reasonable excuse gives taxpayer part penalty relief, Making Tax Digital for VAT set for 2019, tax-free childcare for under nines starts

1 Feb 2018

Tax | HMRC clarifies tax treatment of cryptocurrencies

Although there are no plans afoot to update HMRC’s tax treatment of cryptocurrencies such as Bitcoin, HMRC has moved to clarify its position on the virtual currencies, reports Calum Fuller

30 Jan 2018

Tax | Crypto challenge: taxing cryptocurrencies

As the number of cryptocurrency holders grows along with their values, Calum Fuller examines what it means for practitioners and the potential tax implications for clients

30 Jan 2018

Tax | Making Tax Digital: VAT and quarterly reporting timetable at a glance

In a regular timetable update for HMRC's Making Tax Digital, CCH Daily sets out the key dates for the start of VAT quarterly reporting for those above the £85k threshold and the subsequent year end reconciliation tax report. Full rollout of quarterly reporting has been delayed until 2020/21 tax year at the earliest. This list will be updated regularly to reflect any changes to reporting requirements

30 Jan 2018

Tax | Chancellor calls for review of inheritance tax

The Treasury is calling for a review of inheritance tax (IHT), stating that it is too complicated and needs simplification for the 3% of estates affected

30 Jan 2018

Tax | HMRC letters take too long to 'get to the point'

Taxpayers who receive letters from HMRC regarding their self assessment avoid calling the support number provided due to previous bad experiences with customer service, while others say the letters take too long to ‘get to the point’, according to HMRC research

29 Jan 2018

Tax | NAO launches tax centre through university collaboration

The National Audit Office (NAO) and the University of Birmingham have joined forces to create a tax centre, with aims to inform improvements in the administration of the tax system

26 Jan 2018

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Tax | HMRC clarifies policy on VAT on advanced learner loans

HMRC has published a brief setting out its policy on the correct tax treatment of payments of advanced learner loans from Student Finance England by educational bodies, after becoming aware that the policy is not being applied consistently

25 Jan 2018

Tax | OECD pilots international tax compliance assurance programme

The UK has signed up to a voluntary programme being tested out by the OECD’s forum on tax administration that will use country-by-country reports and other information to facilitate open and co-operative multilateral engagements between multinational groups and tax administrations

24 Jan 2018

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International Tax

Tax Compliance

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Tax | Third of tax returns not filed with one week to go

A third of tax returns are currently outstanding, with just a week to go to the self assessment filing deadline according to HMRC, which says it is expecting an additional three million returns before 31 January

24 Jan 2018

Tax | Barbados and Panama taken off EU tax haven blacklist

Eight jurisdictions have been removed from the EU's list of non-cooperative jurisdictions for tax purposes, including Barbados and Panama, after senior politicians in those regimes made commitments to address the EU’s concerns over their tax practices

24 Jan 2018

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International Tax

Tax Compliance

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Tax | HMRC part-fixes IT problems with self assessment service

Following IT problems with the self assessment pre population service, HMRC has now confirmed that the system is up and running, so taxpayers can see pre-poluated data when they log into accounts but there are still problems with setting up a direct debit

22 Jan 2018

Tax | IRS clarifies guidance for computing transition tax

The US Internal Revenue Service (IRS) has issued additional guidance (Notice 2018-13) for computing the transition tax on the untaxed foreign earnings of foreign subsidiaries of US companies under the Tax Cuts and Jobs Act

22 Jan 2018

Tax | Guidance on claiming relief on corporation tax losses

HMRC has published guidance for companies to work out and claim relief from corporation tax on terminal losses, capital losses and property income losses

22 Jan 2018

Tax | Goodwin: HMRC needs to clear up confusion on crew cab van tax status

A disagreement between HMRC and Coca-Cola over the benefit in kind tax status of crew cab vans has left some businesses and their tax advisers in limbo as the soft drinks giant loses its case at the First Tier Tribunal over vehicle classifications, warns Brent Goodwin, senior VAT manager at Newby Castleman

22 Jan 2018

Tax | Withdrawal of VAT concession on sports club affiliation fees

HMRC is reminding taxpayers and sporting organisations that the concession enabling sports clubs to treat affiliation fees as exempt from VAT will be withdrawn with effect from 1 April 2018

18 Jan 2018

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Tax Services

Latest news

Tax | Tax updates: February 2018

Tax | HMRC clarifies tax treatment of cryptocurrencies

Tax | Crypto challenge: taxing cryptocurrencies

Tax | Making Tax Digital: VAT and quarterly reporting timetable at a glance

Tax | Chancellor calls for review of inheritance tax

Tax | HMRC letters take too long to 'get to the point'

Tax | NAO launches tax centre through university collaboration

Tax | HMRC clarifies policy on VAT on advanced learner loans

Tax | OECD pilots international tax compliance assurance programme

Tax | Third of tax returns not filed with one week to go

Tax | Barbados and Panama taken off EU tax haven blacklist

Tax | HMRC part-fixes IT problems with self assessment service

Tax | IRS clarifies guidance for computing transition tax

Tax | Guidance on claiming relief on corporation tax losses

Tax | Goodwin: HMRC needs to clear up confusion on crew cab van tax status

Tax | Withdrawal of VAT concession on sports club affiliation fees