Tax Compliance

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Tax | NAO to look at online overseas retailer VAT evasion

The National Audit Office (NAO) is to carry out an investigation looking at the risk of VAT evasion by overseas online retailers, which HRMC has estimated costs the Exchequer around £1bn a year

19 Jan 2017

Tax | Register of people with significant control will not affect Crown territories

The government has quashed calls to look at extending the requirement to publish a public register of people with significant control to companies incorporated in the Crown dependencies and overseas territories, as part of a bid to increase tax transparency, saying new rules on the automatic exchange of information are sufficient to address the issues

17 Jan 2017

Tax | Tax changes see one in four buy-to-let landlords sell up

The changes to mortgage interest relief (MIR) have led a quarter of buy-to-let landlords to put in place plans to sell up, while 20% are setting up limited companies in response, according to research by the Residential Landlords Association (RLA)

17 Jan 2017

Tax | NAO slams HMRC deal with Concentrix

HMRC’s contract with Concentrix to provide additional capacity for checking tax credit awards delivered just £193m of savings compared to the original estimate of £1bn, according to a National Audit Office (NAO) investigation, while a third of the outsourcer’s decisions to stop payments were subsequently overturned after review

17 Jan 2017

Tax | Buy-to-let taxation: quarterly reporting for landlords - part 2

In part two of our exclusive series on buy-to-let taxation, Cathy Corns, corporate tax partner at Mercer & Hole outlines HMRC's quarterly tax reporting requirement for landlords as part of Making Tax Digital, which is set to come into force from April 2018

17 Jan 2017

Tax | Institutes release 10-point plan to improve tax policy and Budget

The Chartered Institute of Taxation (CIOT), the Institute for Fiscal Studies (IFS) and the Institute for Government have set out a 10-point plan to improve how tax policy is made in the UK and to better the Budget process

16 Jan 2017

Tax | Government plans to reform horserace betting levy

The government has confirmed it is to reform the horserace betting levy in order to bring offshore gambling companies within its remit, in a bid to boost funding for the sport and the equine industry in general

16 Jan 2017

Tax | Five-year tax break for digital cable suppliers

Telecoms network suppliers are to be offered a £60m tax break for creating new infrastructure for full fibre broadband, as part of the government’s plans to boost the UK’s digital revolution and switch to online services

16 Jan 2017

Tax | BREAKING: MPs call for immediate delay to Making Tax Digital

HMRC's Making Tax Digital programme has the potential to be an expensive disaster unless plans for the national rollout are delayed, according to MPs in the Treasury Committee, who are calling for a one to two year delay to the introduction of quarterly reporting, which is being rushed through to meet a 2018 kickoff date

16 Jan 2017

Tax | Employment law: key changes in 2017

A number of significant employment law changes from gender pay gap reporting to changes to the national minimum wage increase cycle are being introduced this year, with many coming into force from April. Joanna Stubbs, head of content at XpertHR Group examines the top five issues

13 Jan 2017

Tax | Buy-to-let taxation: interest relief restriction - part 1

In part one of our exclusive series on buy-to-let taxation, Cathy Corns, corporate tax partner at Mercer & Hole explains how restrictions on tax reliefs will have significant implications for landlords

12 Jan 2017

Tax | Top ten tips: self assessment tax returns and risk areas

In the run-up to the 31 January deadline for self assessment, Jonathan Amponsah CTA FCCA, managing partner at The Tax Guys, sets out the top ten tips to ensure tax returns are as accurate as possible in order to avoid falling foul of HMRC penalties

12 Jan 2017

Tax | Fishermen triumph over accountants when filing returns on time

Accountants should come out on top when it comes to filing a tax return on time however, accountants and lawyers have once again missed out on first place to the agriculture, fishing and forestry industry, according to HMRC

11 Jan 2017

Tax | Self-assessment awareness grows to record levels

Latest HMRC research has found that the tax authority’s 2015/16 self assessment marketing campaign, urging taxpayers to file their return early, has been successful with overall awareness growing to highest levels, yet communications still lack around Making Tax Digital (MTD) which is scheduled to begin in 2018

10 Jan 2017

Tax | Zurich pays up over misleading IHT investment advice

Zurich is to pay more than £220,000 in damages to a 96-year-old English woman who as not lived in the UK since 1948 after the High Court ruled one the insurer's representatives had given her inheritance tax advice on an 'entirely false' basis

9 Jan 2017

Tax | Case: Zurich made to pay £223k due to false IHT investment advice

A 96-year old English woman who has not lived in the UK since 1948 has been awarded £223,000 in damages from Zurich, after the High Court ruled one of the insurer’s representatives had given her inheritance tax advice based ‘on an entirely false foundation

9 Jan 2017