Tax Compliance

Latest news

Image for treasury rules out delaying llp tax changes

Tax | Treasury rules out delaying LLP tax changes

The government has ruled out any plans to defer the imminent changes to the LLP tax rules, despite calls by the House of Lords to delay implementation until 2015

13 Mar 2014

Tax | Law firms debate capital injection as LLP tax rules change

Plans to reform the taxation of LLPs will hit law firms hard as they consider whether to call for an injection of partner equity, reports Rachel Fielding

13 Mar 2014

Leadership & Management

Companies

Tax | HMRC stalls on reform of close company loans

Plans to reform the rules governing the taxation of close company loans to their participators are still under review and, in the latest twist, HMRC has written to CIOT asking for further information about its concerns raised during last autumn’s consultation, Reform of close company loans to participators rules

10 Mar 2014

Tax | Avon wins input VAT case at Tribunal

Avon Cosmetics has won a case at the First Tier Tribunal (FTT) over derogation of VAT payments for retail representatives which could reduce its overall VAT liability by some £14m depending on the outcome of a referral to the European Court of Justice (ECJ)

10 Mar 2014

Tax | HMRC issues LLP guidance on salaried members' taxation

HMRC has published revised draft Finance Bill 2014 legislation and a revised explanatory note about salaried members as well as a related Tax Information and Impact Note (TIIN)

7 Mar 2014

Tax | Flying instructor loses expenses case at FTT

A self-employed flying instructor has lost at case at the First Tier Tribunal (FTT) over deductibility of travel and telephone expenses, while amounts claimed for telephone expenses were deemed excessive, in a case which was delayed pending the recent ruling in the Samadian case

5 Mar 2014

Tax | Government rejects PAC stance on HMRC tax collection

The government has rejected a number of recommendations from a recent Public Accounts Committee (PAC) report looking at HMRC’s approach to tax collection and has indicated its support for the tax authority's collection methods.

3 Mar 2014

Tax

HMRC

Tax Compliance

Tax | Finance Bill date set

The Treasury has announced the date for the publication of the Finance Bill, which makes the tax proposals announced in the Budget into law

3 Mar 2014

Tax

Tax Compliance

Tax | LLPs struggle to define ‘true partner’ tax tests

Uncertainty continues to surround planned changes to the taxation of limited liability partnerships (LLPs) which will come into force on 6 April, although HMRC has published a revised technical note and guidance on the new regulations, which are designed to tackle the issue of ‘disguised self employment'

28 Feb 2014

Tax | UHY warning on £200m NIC bill for new academies

The government’s flagship academy schools could face a £200m funding black hole as a result of planned changes to the state pension rules which will increase their employers’ National Insurance Contribution (NICs), according to research by UHY Hacker Young

21 Feb 2014

Tax | Bristol & West loses £27m corporation tax case appeal

Bristol & West, a division of the Bank of Ireland, has lost its second attempt to avoid £27m of corporation tax by claiming that there was a loophole in the law governing the taxation of derivatives

21 Feb 2014

Tax | HMRC ‘names and shames’ tax evaders

A double glazing salesman who failed to declare commission payments, the owners of a massage parlour and a Scottish takeaway proprietor all feature on HMRC’s latest public listing of deliberate tax defaulters

20 Feb 2014

Tax

HMRC

Tax Compliance