Tax Compliance

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Tax | Irish tax rules for start-ups undermine growth despite 12.5% CT rate

Attempts by Ireland to attract more start-up companies and encourage entrepreneurs are being hampered by ‘immensely restrictive’ capital gains tax (CGT) rules coupled with a ‘penal regime’ for offering share options, make it difficult for Ireland to compete with their UK equivalents, Mary Honohan, incoming president of the Irish Tax Institute is warning. Pat Sweet reports

4 Sep 2015

International Tax

Image for india backtracks mat tax charge foreign investors

Tax | India backtracks on MAT tax charge for foreign investors

The Indian government has pulled back on a punitive tax charge for investors and has confirmed that it is no longer planning to levy of up to $6.4bn (£4.2bn) of backdated minimum alternate tax (MAT) charges on foreign institutional investors in a move which has been welcomed by UK finance companies operating in the country

3 Sep 2015

International Tax

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Tax | Comment: if you look like an employee and act like an employee…

Baker Tilly employment tax expert Lesley Fidler considers the fallout from the government’s clampdown on employment intermediaries including umbrella companies and agencies, and the impact on tax liability for employees hired through such organisations

3 Sep 2015

Image for new cpd module employment intermediaries reporting procedures

Tax | NEW: CPD module on employment intermediaries - reporting procedures

This month’s CPD module focuses on the new reporting rules for employment intermediaries which came into force from 6 April 2015, requiring quarterly reporting to HMRC about freelance contractors

3 Sep 2015

Image for us district columbia plans put channel islands tax haven list

Tax | US District of Columbia plans to put Channel Islands on tax haven list

The US District of Columbia (DC), home to the US capital, is set to pass legislation listing the Channel Islands, the Isle of Man and several British overseas territories on a proposed list of specified tax havens, in a bid to counter the state impact of perceived international income shifting

2 Sep 2015

International Tax

Tax | Chinese restaurant owner takes away jail sentence for tax fraud

A Chinese restaurant owner who claimed more than £100,000 in VAT repayments has been jailed, after an HMRC official spotted spelling mistakes and inconsistencies in a series of forged invoices for property refurbishments

2 Sep 2015

Called to Account

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Tax | Dividend tax changes signal higher tax bills for contractors

Contractors are facing higher tax bills after a testing Summer Budget targets one-person limited companies with reviews of IR35 intermediaries legislation and the fallout from changes to dividend taxation, says Chris Barnard ACCA, accountancy technical manager at Crunch Accounting

2 Sep 2015

Tax | Joint Capgemini HMRC call centre opens in Telford

As HMRC moves towards online delivery of all its services with the closure of walk-in tax offices, Telford is the latest site for a brand new HMRC national digital delivery centre, the tax department’s call centre and IT support operation which will provide helpline services to online customers, including tax advisers and individual taxpayers

1 Sep 2015

Tax | Non doms pay £6.6bn in taxes in 2014-15 despite higher RBC

Government attempts to curb the number of UK-based non-domiciled taxpayers by increasing annual charges, identifying abuse of the system and changing the three-year rule appear to be failing as non doms paid £6.6bn in total taxes over 2014-15, marking a 7% increase on the previous year

1 Sep 2015

Image for sturgeon hints tax changes scotland despite limited devolved powers

Tax | Sturgeon hints at tax changes for Scotland despite limited devolved powers

Scotland will start to implement the key tax measures outlined in the Smith Commission process with an announcement on the Scottish rate of income tax to be set out in the forthcoming Budget speech this autumn while the UK air passenger duty will be halved by 2018, before it is replaced by a Scottish equivalent

1 Sep 2015

Tax | HMRC launches API strategy to improve tax software development

In an attempt to improve the quality of tax software and improve tax compliance levels, HMRC has published a third-party tax software and application programme interface (API) strategy outlining how it plans to work more closely with developers to create innovative tax programmes

1 Sep 2015

Tax | Employers flouting national minimum wage to face 200% penalties

The government has announced plans to double penalties for employers who fail to pay the National Minimum Wage and the new National Living Wage when it comes into force in 2016

1 Sep 2015

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Tax | HMRC will publish data on higher rate Gift Aid taxpayers

HMRC is to reduce the amount of reporting on charity tax relief statistics, merging the current three datasets to one from 2016, in a bid to reduce costs which will free up resources to report on the use of Gift Aid by higher rate taxpayers

1 Sep 2015

Tax | P11D(b) and P30B payslip PAYE error update

HMRC has provided an update on an IT issue affecting a number of PAYE schemes which started back in July and resulted in employers facing processing problems when submitting P11D(b) forms and appears to still be causing problems

1 Sep 2015

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Tax | Employment tax updates: September 2015

Lesley Fidler, employment tax expert at Baker Tilly assesses the key changes in employment tax from overcharging issues over student loan repayments under PAYE, last minute changes to intermediary reporting and a surprise HMRC national minimum wage compliance campaign

1 Sep 2015

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Tax | Tax updates: September 2015

In the latest tax case reports, Sharon Khin considers the CGT exemption in Ames, AIA denied over discontinuance, transfer pricing rules in Abbey National Treasury Services and a long-running tax dispute reaches beyond the grave, while Airbnb has a grilling from the Irish Revenue over tax liability and intermediaries

1 Sep 2015

International Tax

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