Tax Compliance

Latest news

Tax | HMRC figures show tax gap up by £1bn

Latest HMRC figures show £34bn of tax went uncollected last year, slightly more than the previous year and bucking the longterm downward trend for figures for the tax gap, largely because of difficulties in bringing in all the VAT and tobacco duty owing

16 Oct 2014

Tax | Paper tax returns due 31 October, warns HMRC

HMRC has ramped up its warnings to taxpayers that the deadline for completing paper tax returns for 2013/14 is the end of this month, and that any paper returns received after the 31 October deadline will result in a £100 penalty

16 Oct 2014

Tax | EU Council to extend tax treaty rules to end bank secrecy

The EU Council has agreed a draft directive extending the scope for the mandatory automatic exchange of information between tax administrations to create a tougher framework for banks and financial institutions

15 Oct 2014

Tax | HMRC launches online FATCA reporting service

HMRC has launched an online service for UK financial institutions to register and report financial information on behalf of US customers in accordance with UK/US legislation under the Foreign Account Tax Compliance Act (FATCA)

14 Oct 2014

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Tax | Tax and business mileage – keeping within the rules

As HMRC begins to reinforce the ten-mile rule on reporting business mileage, it is increasingly important to make sure that your business drivers are totally compliant with the new rules, says Nigel Morris, finance director at Fleet Innovations

13 Oct 2014

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Tax | CIOT rejects plan to remove personal allowance for non-residents

The Chartered Institute of Taxation (CIOT) is calling on the government to drop the plans to restrict non-residents entitlement to the UK personal allowance

10 Oct 2014

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Tax | Corporation tax evaders jailed for ten years for £2.5m plan

Two Essex businessmen who evaded £2.5m in corporation tax and VAT in a fraud linked to the supply of labour to the railway industry have been jailed for 10 years after a three-week trial at Southwark Crown Court following Operation Quiver led by HMRC

8 Oct 2014

Called to Account

Tax | Micro businesses say HMRC RTI campaigns ineffective

The latest HMRC Real Time Information (RTI) marketing campaign was ineffective at reaching micro employers, according to research by BDRC, commissioned by HMRC

8 Oct 2014

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Tax | European Commission to investigate Amazon over Luxembourg transfer pricing

The European Commission has opened an in-depth investigation to examine whether or not the tax authorities in Luxembourg struck a special tax deal with Amazon, which it says may have given the online retailer preferential treatment and breached the EU’s rules on state aid

7 Oct 2014

Tax | Red card for Messi over tax evasion allegations

Barcelona and Argentina football star Lionel Messi is set to face trial for alleged tax evasion after a Spanish court rejected the striker's appeal against his prosecution on the grounds that his father was responsible for his finances

6 Oct 2014

Tax | Treasury set to clampdown on hybrid mismatches

The government has confirmed plans to clampdown on the use of hybrid mismatches as part of moves to tackle aggressive tax planning, and is to set out the proposals in the Autumn Statement in December

6 Oct 2014

Tax | HMRC consults on withdrawal of ESC D45 for CGT roll-over

HMRC has published a consultation document on the effect of withdrawing three of their extra-statutory concessions (ESCs), two on income tax and one on capital gains tax (CGT), for comment by 8 January 2015

2 Oct 2014

Tax | More powers for HMRC to recover debts up to £17k

The tax authorities will have new powers set in law from October 2014 to increase the limits on coding out statements for PAYE so that employees could potentially have half their earnings over £30,000 clawed back by HMRC to settle tax debts

1 Oct 2014

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Tax | Fiat contravenes EU state aid on Luxembourg tax agreement

The European Commission has issued the second report into tax practices which they claim contravene the EU state aid rules, this time focusing on Fiat Finance and Trade, a division of the group Fiat, based for tax purposes in Luxembourg.

1 Oct 2014

International Tax

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Tax | Tax updates: October 2014

In this month's roundup of tax cases and technical tax news, Sharon Khin assesses the rulings in the Lloyds shipping case on capital allowances and payments to directors in 'error' are not dividends says First Tier Tribunal in Key Recruitment

1 Oct 2014

Tax | Tax filing deadlines: Oct-Dec 2014

The key tax filing deadlines for the next quarter from corporation tax returns to PAYE cheque payments

1 Oct 2014

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