Tax Compliance

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Tax | NAO launches investigation into HMRC’s tax collection from HNWI

The National Audit Office (NAO) plans to investigate HMRC’s approach to collecting tax from high net worth individuals (HNWI), due for publication this winter

6 Sep 2016

Tax | Kavanagh: tax settlement warning as De Silva case looms

Tax settlements with HMRC may not yield the best results for taxpayers in dispute, warns John Kavanagh, senior counsel at Taxxa, as the potentially decisive De Silva case approaches the Supreme Court in 2017

6 Sep 2016

Tax | Icebreaker 2 appeal thrown out by Upper Tribunal

The lead appeal in Icebreaker 2 partnerships has been dismissed by the Upper Tribunal after it was ruled investments constituted purchases of guaranteed income streams

5 Sep 2016

Tax | HMRC issues 60,000 APNs since 2014 launch

Since the launch of accelerated payments notices (APNs) in 2014, HMRC has raised £3bn by forcing those under investigation for tax avoidance to pay up disputed tax immediately, although the notices have come under fire in the courts and thousands have been withdrawn

5 Sep 2016

Tax | HMRC failings lead to unnecessary investigations into taxpayers

HMRC faces criticism as only 48% of individuals and 57% of SMEs believe that the tax authority has the right systems in place to prevent taxpayers from making errors on their tax returns which results in unnecessary investigations

5 Sep 2016

Tax | CIOT: Purpose of Welsh Land Transaction Tax unclear

The primary motivation for the Welsh move from Stamp Duty Land Tax (SDLT) to a Land Transaction Tax (LTT) is not clear in its policy statements, the CIOT has said

1 Sep 2016

Tax | Tax data: CGT data, HMRC rates of interest - Sep 2016

Download the HMRC CGT indexation allowance for May 2016, RPI Index for July 2016 and HMRC rates of interest, changes to stamp duty land tax (SDLT) and land and buildings transaction tax (LBTT) rates, and more

1 Sep 2016

Tax | Tax filing deadlines: Sep - Dec 2016

The key HMRC filing deadlines from September to December 2016 including PAYE cheque payments, corporation tax payment, national minimum wage rises and notice of chargeability to tax for 2015/16

1 Sep 2016

Tax | De minimis tests: potential VAT break for buy-to-let landlords

The partial exemption de minimis rules on VAT could prove beneficial for buy‑to-let owners but it is critical to review the detailed technical guidance as per HMRC VAT Notice 706, says VAT consultant Neil Warren

1 Sep 2016

Tax | Common reporting standard versus FATCA: compliance issues

The introduction of the common reporting standard (CRS) creates a degree of confusion over consistency with FATCA compliance, warns Laila Arstall is advocate and counsel at Carey Olsen

31 Aug 2016

Tax | CEO of Apple addresses Europe following €13bn tax bill

Apple’s CEO, Tim Cook, has written a letter addressed to the Apple community in Europe, following a ruling by the European Commission calling on Ireland to recover up to €13bn (£11bn) in tax from the tech giants

30 Aug 2016

Tax | Ireland told to claw back €13bn in taxes from Apple

The European Commission is calling on Ireland to recover up to €13bn (£11bn) from Apple, after its investigation concluded Irish tax deals with the technology giant amounted to illegal state aid, with Apple paying an effective corporation tax rate as low as 0.005% in some years

30 Aug 2016

Tax | HMRC consults on tougher action on black economy

HMRC has announced three consultations on proposals to tackle the hidden economy, which include wider data gathering powers, the requirement for some businesses to register for tax purposes in order to access to licenses or services, and new sanctions for compliance failures

30 Aug 2016

Tax | Dodwell: digital accounts could benefit individual taxpayers

Bill Dodwell, senior partner and head of tax policy at Deloitte casts his expert eye over digital tax accounts for individuals and small businesses

30 Aug 2016

Tax | Parents must update tax records for children post GCSEs by 31 August

Parents that receive child benefit and child tax credits have been reminded by HMRC to update their child’s educational status after GCSE results were released to ensure that they continue to receive the correct payments

26 Aug 2016

Tax | Lack of information hits HMRC relationship with mid-sized businesses

Mid-sized businesses have described how difficulty in finding information and criticisms about the quality of information provided by HMRC adversely affects their relationship with the tax authority

26 Aug 2016