Consultations

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Tax | Insolvency will not afford tax evasion excuse from 2019

The government is to press ahead with legislation in 2019/20 to allow HMRC to make directors and other persons involved in company tax avoidance, evasion or phoenixism jointly and severally liable for tax liabilities that arise from those activities where the company becomes insolvent, following a consultation on the issues

7 Nov 2018

Law and Regulation

Restructuring & Insolvency

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Tax | Working group to investigate feasibility of VAT split payments

HMRC and the Treasury are to set up a formal industry working group to examine how to create a split payment model for VAT, in order to cut down on tax losses from cross-border e-commerce, after a consultation found the potential options under consideration were too complex and costly to implement

7 Nov 2018

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Tax | Simplification of tax return amendment process planned

The government is planning to review the complicated process for amending tax returns to make it more transparent and easier for taxpayers to use, with a possible move to a single digital tax amendment service

7 Nov 2018

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Tax | Disputed tax from big business hits £27.8bn

Figures released today show that the amount of underpaid tax in dispute with the UK’s 2,000 largest businesses increased to £27.8bn in 2017/18, a 12% increase on the previous year, as HMRC steps up its investigative activity

5 Nov 2018

Law and Regulation

Image for budget 2018 consultations trusts and rd tax relief pipeline

Tax | Budget 2018: consultations on trusts and R&D tax relief in pipeline

The government is to carry out a number of consultations into current tax and accounting policy, including R&D reliefs and the implementation of IFRS 17 Insurance Contracts, and has yet to determine a direction for the long-standing issue of taxation of trusts

30 Oct 2018

Law and Regulation

Image for budget 2018 ir35 be extended private sector

Tax | Budget 2018: IR35 to be extended to private sector

The IR35 off-payroll working rules which have already been introduced for the public sector are to be extended to the private sector the Chancellor has confirmed in the Budget, saying that the move was ‘essential to ensure fairness between individuals working side by side for the same employer’

30 Oct 2018

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Tax | Consultation on rules for relief of corporate capital losses

HMRC has opened a consultation on plans to reform the rules for the relief of corporate capital losses from 1 April 2020, action which was announced in the Autumn Budget 2018

30 Oct 2018

Image for budget 2018 first year allowance electric charge points extended

Tax | Budget 2018: first-year allowance for electric charge-points extended

Chancellor Philip Hammond has extended the current 100% first-year allowance for costs incurred on installing electric charge-points until 2023 to further encourage the take up of electric vehicles

29 Oct 2018

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Tax | HMRC consults on draft legislation for devolved Welsh income tax

HMRC has produced a technical note setting out the government's position on the Welsh rates of income tax, which will be implemented in April 2019, and begun a consultation on the legislative changes required

23 Oct 2018

Law and Regulation

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Tax | OTS seeks views on tax impact on SMEs

The Office of Tax Simplification (OTS) has published a call for evidence and an online survey to seek views about tax impact on businesses, particular those at the smaller end of the spectrum, with the aim of identifying opportunities to reduce the regulatory burden

10 Oct 2018

Image for ec wants action eu150bn vat losses

Tax | EC wants action on €150bn VAT losses

European Commission analysis shows EU countries lost almost €150bn (£134bn) in VAT revenues in 2016, with the UK and Ireland among a minority of six member states to report an increase in the ‘VAT gap’ between expected revenue and the amount actually collected

24 Sep 2018

International Tax

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Tax | House of Lords call for evidence on extent of HMRC powers

The House of Lords has issued a two-week call for evidence into the extension of HMRC powers as part of government plans for Making Tax Digital set out in the draft Finance Bill 2018

13 Sep 2018

Making Tax Digital

Law and Regulation

Image for eu threshold vat digital services 2019

Tax | EU threshold for VAT on digital services from 2019

HMRC has launched a short technical consultation on draft statutory instruments covering changes to the VAT treatment of business to consumer supplies of digital services, which introduce a new €10,000 (£8,894) threshold for total supplies to the EU in a year of sales

12 Sep 2018

Image for dodwell historic approach tax fails recognise reality

Tax | Dodwell: historic approach to tax fails to recognise reality

Bill Dodwell LLB CTA, senior policy adviser at OTS, considers how the history of PAYE will impact engagers and online platforms following the release of two HMRC consultations

29 Aug 2018

Image for whats changing cgt overhaul non residents

Tax | What’s changing: CGT overhaul for non-residents

Capital gains tax is being extended to non-residents for gains arising from property and land sales in the UK from April 2019. Stephanie Webber ACA CTA, specialist tax writer at Croner-i, examines the draft rules and potential pitfalls

22 Aug 2018

International Tax

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Tax | HMRC consults on AML supervision fees

HMRC is consulting on plans to alter the way it charges fees to the businesses it supervises under money laundering regulations, saying its income from this needs to increase by 80% - 100% to cover the costs of a significant number of new staff

21 Aug 2018

Accountancy Firms

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Q&A: tax on property business profits

Q&A: VAT deregistration and 30-day rule

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