Tax Compliance

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Image for register beneficial ownership trusts who does it affect

Tax | Register of beneficial ownership of trusts: who does it affect?

The launch of a register of beneficial ownership of trusts from June 2017 will sweep up all UK trusts and non-UK trusts with UK tax liability, with only bare trusts excluded. Jason Collins, partner and head of tax investigation, and Paul Noble, tax director at Pinsent Masons examine how the system will work and provides tips on the extended HMRC notification process

13 Jun 2017

International Tax

Law and Regulation

Image for warning dvla car tax scam

Tax | Warning on DVLA car tax scam

Driver & Vehicle Licensing Agency (DVLA) is warning about a tax scam which targets drivers using a fake email, supposedly sent by DVLA, including a reference to report phishing as part of the hoax

13 Jun 2017

Image for us vote water down dodd frank regulations

Tax | US vote to water down Dodd-Frank regulations

The US House of Representatives has voted through a Bill that would rescind many of the key banking reforms and regulations implemented after the 2008 financial crisis, although there is little chance that the Senate will pass this into legislation

12 Jun 2017

International Tax

Corporate Governance

Image for call longer period settle inheritance tax bills

Tax | Call for longer period to settle inheritance tax bills

Royal London is calling on HMRC to grant people more time to settle inheritance tax bills, after finding executors of larger, more complex estates risk having to pay these out of their own pocket, because of the time taken to wind up financial affairs

12 Jun 2017

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Tax | Election 2017: what a hung parliament means for tax policy

The final outcome of the election with a hung parliament and a Conservative government propped up by the Northern Irish DUP leaves business in a period of uncertainty in the runup to Brexit. Brian Palmer, tax policy adviser at the AAT, asks what the post election tax landscape looks like for tax advisers and accountants

9 Jun 2017

Making Tax Digital

Image for apple ceo wants trumps repatriation tax made mandatory

Tax | Apple CEO wants Trump’s repatriation tax made mandatory

Tim Cook, tech giant Apple’s CEO, has called for President Trump’s proposed repatriation tax, which aims to bring money from offshore income back into the US, to be mandatory for all US companies

9 Jun 2017

International Tax

Image for uk among 60 signatories groundbreaking beps treaty

Tax | UK among 60+ signatories to groundbreaking BEPS treaty

Finance ministers from more than 60 nations have formally signed up to the OECD’s multilateral convention to tackle base erosion and profit shifting (BEPS), in a move to crackdown further on corporate tax avoidance which predictions suggest could increase global corporate tax take by up to 10%

8 Jun 2017

International Tax

Image for cullinane return payment gold bullion avoid tax

Tax | Cullinane: return of payment by gold bullion to avoid tax

The return of some tax avoidance schemes popular before the credit crunch is a worrying trend as the use of gold bullion to circumvent NICs' payments rears its ugly head despite HMRC attempts to curb their use. CIOT tax policy director John Cullinane is critical of use of this tax planning tool

8 Jun 2017

Image for irs facing multimillion dollar fee repayments accountants

Tax | IRS facing multimillion dollar fee repayments to accountants

The US tax authorities may have to repay up to $300m to accounts preparers, after a court ruled that the fees charged for issuing Preparer Tax Identification Numbers (PTIN) required with submissions are illegal

7 Jun 2017

International Tax

Accounting Standards

Financial Reporting

Image for warning itunes tax scam

Tax | Warning on iTunes tax scam

Action Fraud, the UK’s national reporting centre for fraud and cyber crime, is warning people once again about scammers contacting victims claiming to be from HMRC, and tricking older and vulnerable people into paying bogus debts and taxes using iTunes gift cards

7 Jun 2017

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Tax | UK in top 20 for simplest compliance regime

The UK’s accounting and tax compliance regime is rated amongst the top 20 countries worldwide for ease of doing business, according to research by TMF Group which also found that the Cayman Islands is the easiest overall

7 Jun 2017

Image for hells angel tax fraud blamed accountants error

Tax | Hells Angel tax fraud blamed on accountant’s error

A bid by the Australian Tax Office (ATO) to launch a tax crackdown on outlaw motorcycle gangs has hit a roadblock, as the president of the Hells Angels has avoided conviction for fraud after his accountant took the blame for tax irregularities

7 Jun 2017

International Tax

Called to Account

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Tax | Inheritance tax: passing on wealth to the children

The significance of inheritance tax and succession planning has shot to the top of the agenda as the question of long-term care costs has erupted. Liz Cuthbertson, partner at Mercer & Hole, examines the key IHT points to consider and the importance of taking action in good time

7 Jun 2017

Image for gibraltar and brexit low tax financial status risk

Tax | Gibraltar and Brexit: low-tax financial status at risk

Gibraltar's favourable tax status may be put at risk when Brexit talks as the territory is set to play a pivotal role in negotiations. Stuart Gray, senior editor at Wolters Kluwer Global Tax Weekly, examines what is at stake for this low-tax financial centre

7 Jun 2017

International Tax

Law and Regulation

Image for hmrc replaces jennie granger interim business tax head

Tax | HMRC replaces Jennie Granger with interim business tax head

After a raft of senior departures from HMRC, two temporary director generals have been appointed to replace Jennie Granger and Ruth Owen at the tax authority on an interim basis, taking over responsibility for the critical portfolios of business tax, Making Tax Digital and compliance, and customer services, although neither are permanent appointments

6 Jun 2017

Making Tax Digital

Accountancy Firms

Leadership & Management

Image for kpmg dispute hmrc over partner tax

Tax | KPMG in dispute with HMRC over partner tax

There are claims that ‘hundreds’ of KPMG partners could face large tax bills as a result of an ongoing and unresolved dispute between HMRC and the firm over historic eligibility claims

6 Jun 2017

Accountancy Firms

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