Law and Regulation

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Image for how make christmas tax deductible and keep hmrc happy

Tax | How to make Christmas tax deductible and keep HMRC happy

The season of goodwill is upon us. Many business owners will be ‘splashing out’ on gifts, parties, awards and other kind gestures to end the year on a high. Tax Guys CEO Jonathan Amponsah CTA FCCA, gives the lowdown on nine ways to reduce your tax bill this festive season while adhering to the tax code

14 Dec 2018

Law and Regulation

Image for scottish budget freezes higher rate threshold ps43430

Tax | Scottish Budget freezes higher rate threshold at £43,430

Higher rate taxpayers will face larger tax bills in Scotland from April 2019 as the Scottish Budget confirms plans to freeze the higher rate threshold for another year, reports Sara White

12 Dec 2018

Law and Regulation

Image for ciot president attacks loan charge legislation

Tax | CIOT president attacks loan charge legislation

The president of CIOT, Ray McCann, has told the Treasury sub-committee that the government’s approach to tackling disguised remuneration was ‘worse than retrospective legislation’ in that it removed the legal protections provided to taxpayers

11 Dec 2018

Law and Regulation

Image for walker cost implications digital services tax

Tax | Walker: cost implications of digital services tax

The digital services tax (DST) announced in the Budget will lay a heavy compliance burden on businesses, especially when it comes to UK profit margins, argues Eloise Walker, partner at Pinsent Masons

6 Dec 2018

Law and Regulation

Image for corporate taxes and vat drive revenue spike

Tax | Corporate taxes and VAT drive revenue spike

Tax revenues in advanced economies have continued to increase, with taxes on companies and personal consumption representing an increasing share of total government revenues, according to an annual review by the OECD

6 Dec 2018

International Tax

Law and Regulation

Image for ashley calls immediate 20 tax online sales

Tax | Ashley calls for immediate 20% tax on online sales

Sports Direct founder Mike Ashley has claimed that the high street is ‘already dead’ due to the impact of the internet on consumers, and that the only way to redress the balance would be to institute a 20% tax on online sales and massive cuts to business rates

4 Dec 2018

Law and Regulation

Image for hmrc amends rules termination payment tax

Tax | HMRC amends rules on termination payment tax

HMRC has updated guidance on the new rules for the taxation of termination payments, introduced to counter manipulation of the system, to reflect changed dates in relation to employer national insurance contributions (NICs) and to sporting testimonials

4 Dec 2018

Law and Regulation

Image for lords call greater oversight hmrc powers

Tax | Lords call for greater oversight of HMRC powers

Recent powers provided to HMRC undermine the rule of law and hinder taxpayers' access to justice, and the tax authority should be subject to greater oversight and its powers reviewed, as the balanced has been tipped ‘unfairly’ in its favour, according to a House of Lords report

4 Dec 2018

Law and Regulation

Image for ingram probate fees hike tax bereaved

Tax | Ingram: probate fees hike is a tax on bereaved

Kay Ingram, director of public policy at LEBC, argues that an increase in probate fees puts an unfair burden on bereaved families and discusses what they can do to avoid being required to pay probate fees and inheritance tax upfront

4 Dec 2018

Law and Regulation

Image for eu committee backs vat reverse charge

Tax | EU committee backs VAT reverse charge

The EU committee on economic and monetary affairs has voted in favour of a proposed amendment to the EU VAT directive, allowing member states struggling with fraud to temporarily change the way it is recovered

4 Dec 2018

International Tax

Law and Regulation

Image for business implications hmrcs crown preference

Tax | Business implications of HMRC’s Crown preference

Simon Willmett, financial director of Nucleus Commercial Finance, argues that the reinstated preferential status for HMRC in the event of a business insolvency may increase cash flow pressures for unsecured creditors

3 Dec 2018

Law and Regulation

Restructuring & Insolvency

Image for hmrc penalties cfos under sao regime rise

Tax | HMRC penalties for CFOs under SAO regime rise

HMRC is issuing significant numbers of personal penalties to senior financial executives at big businesses under the senior accounting officer (SAO) regime

26 Nov 2018

Law and Regulation

Image for leading institutes back lords call mtd delay

Tax | Leading institutes back Lords call for MTD delay

A recommendation by a Lords committee that the government’s introduction of mandatory Making Tax Digital (MTD) for VAT should be delayed by at least one year is supported by the Low Incomes Tax Reform Group (LITRG), CIOT and the ICAEW

23 Nov 2018

Making Tax Digital

Law and Regulation

Image for dup silence allows finance bill amendments through

Tax | DUP silence allows Finance Bill amendments through

Divisions over the government’s Brexit agreement has caused Northern Ireland’s Democratic Unionist Party (DUP) to deliver a stinging blow by failing to back the government on amendments to the Finance Bill proposed by opposition parties

21 Nov 2018

Law and Regulation

Image for meghan markles tax status puts royal finances view

Tax | Meghan Markle’s tax status puts Royal finances in view

Meghan Markle could be bringing more than a touch of Hollywood glamour to her new role as Duchess of Sussex, with reports that the former actress may also be adding to the Royal Family’s tax complications while she remains a US citizen

21 Nov 2018

International Tax

Law and Regulation

Image for mps examine bbc freelancers personal service companies

Tax | MPs to examine BBC freelancers’ personal service companies

The BBC’s relationships with freelancers and personal service companies (PSCs) are set to come under scrutiny once again by the public accounts committee (PAC), in the wake of a recent tribunal decision which denied one presenter IR35 status

21 Nov 2018

Law and Regulation

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