Tax Compliance

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Tax | Tax updates: October 2015

A roundup of the latest tax case reports from special relief in Scott to Rowe and Ors lose case at judicial review over advance payment notices (APNs), Scottish rate of income tax (SRIT) confusion and objections to plans for rushed introduction of benefits in kind (BIK) payrolling

1 Oct 2015

Tax | Tax data: October 2015

Download the latest HMRC CGT indexation allowance for June 2015, RPI Index for August 2015 and HMRC rates of interest, stamp duty land tax and land and buildings transaction tax rates, and more

1 Oct 2015

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Tax | Tax filing deadlines: Oct-Dec 2015

The key HMRC filing deadlines including PAYE cheque payment dates, corporation tax payments for 31 Dec 2014 year ends and reminder that last chance to maximise use of £300K annual investment allowance expires on 31 Dec 2015

30 Sep 2015

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Tax | BEPS 2015: OECD sets release date for package of tax reforms

After months of discussion and consultation, the OECD plans to publish the final BEPS – base erosion and profit shifting – rules on 5 October

29 Sep 2015

International Tax

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Tax | Dodwell: taxation is still about people, despite digital plans

A spate of HMRC surveys on satisfaction levels highlights issues around customer service with larger business customers expressing reservations about the changes to customer relationship managers. Bill Dodwell, senior partner at Deloitte, examines the findings

23 Sep 2015

Tax | Call for ‘lifetime perspective’ on tax and benefit payments

More than nine in 10 people pay more in taxes than they receive in social security during their lifetime, according to analysis by the Institute for Fiscal Studies (IFS) which says the government should put more emphasis on longer term assessment of tax and benefit changes

22 Sep 2015

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Tax | FRS 102: how to deal with deferred tax under new UK GAAP

Karen Duncan, senior manager at KPMG, examines the potential pitfalls of the new approach to deferred tax accounting under the FRS 102 framework, with tips, advice and practical examples covering revalued assets, business combinations, disclosures and share-based payments

22 Sep 2015

Financial Reporting

Tax | Juncker calls for common EU tax policy and criticises global tax rules

Multinationals have once again come under fire at the European Commission with president Jean Claude Juncker calling for ‘some order’ over global tax rules, citing tax evasion and avoidance as one of his top ten priorities although he had to bat off attacks from MEPs over his previous involvement with tax policy and rulings when he was finance minister of Luxembourg

18 Sep 2015

International Tax

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Tax | HMRC powers to track evaders extend offshore and onshore

As HMRC is given more powers to target errant taxpayers, anyone with offshore accounts needs to ensure they are fully tax compliant, and now is the last chance to take advantage of the Leichtenstein Disclosure Facility before a robust new penalty regime comes into force, warns Fiona Fernie, partner (non-lawyer) at Pinsent Masons LLP

15 Sep 2015

International Tax

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Tax | IR35 review: why current intermediaries rules need reform

With widespread abuse of IR35 tax rules, Mark Groom, vice chair, employment taxes technical committee of CIOT, and Deloitte partner, considers how proposed reforms to the tax system will hit personal service companies

14 Sep 2015

Tax | Big business earmarks £1.6bn for contentious tax litigation

The amount big companies set aside to cover costs for tax disputes has fallen by more than half over the last three years to £1.6bn currently, according to research from Thomson Reuters, despite HMRC's crackdown on questionable tax arrangements

9 Sep 2015

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Tax | Comment: watch out for IHT trap as DOTAS rules are tightened

Draft regulations could require disclosure of all but the most basic inheritance (IHT) planning under the new extended DOTAS regulations, warn Geoffrey Todd and Jenny Wilson-Smith, Boodle Hatfield

8 Sep 2015

Image for comment dividend tax flawed and chokes start ups

Tax | Comment: dividend tax is flawed and chokes start-ups

Does the end of the dividend as we know it signal a shift from entrepreneurship to big business, asks Dominic Slattery, managing director, OneE Group, who outlines some of the options for business owners reconsidering their remuneration arrangements

8 Sep 2015

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Tax | Large business says high staff turnover affecting relationship with HMRC

Large businesses are becoming more critical of the way HMRC handles their tax affairs with high staff turnover levels affecting the quality of service provided by new customer relationship managers (CRMs) who are less engaged than before and lack technical knowledge, according to the results of an annual HMRC qualitative survey of their experiences

7 Sep 2015

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Tax | HMRC updates guidance on DOTAS tax avoidance scheme changes

HMRC has issued guidance on disclosure of tax avoidance schemes (DOTAS) and promoters of tax avoidance schemes (POTAS) in the light of changes to the rules made as a result of the Finance Act 2014 and Finance Act 2015, which introduce more onerous reporting requirements and the imposition of a broader penalty scheme

7 Sep 2015

Tax | Osborne in front of House of Lords committee

Parliamentary committees are back up and running next week with HMRC officials, including chief Lin Homer, due before the Public Accounts Committee and the Chancellor starting the week with a grilling by the House of Lords economic affairs committee

4 Sep 2015

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