HMRC

Tax / HMRC raids Newcastle and West Ham football clubs

Over a hundred HMRC officers have been deployed on early morning raids at two football clubs - Newcastle United and West Ham -  with several arrests made in connection with allegations of tax fraud

Tax / Making Tax Digital: accounting periods and reporting deadlines

With less than a year to go before quarterly reporting starts for unincorporated businesses, self employed and landlords over the VAT threshold in April 2018, Stephen Relf ACA CTA, specialist tax writer at Wolters Kluwer, has pulled together a handy guide to key reporting dates for accounting periods for HMRC's Making Tax Digital 

Tax / Pressure to amend Making Tax Digital plans

Government departments and select committees have now entered a period of ‘purdah’ as the general election campaign gets underway, but there are signs that the two committees scrutinising HMRC proposals for Making Tax Digital are planning to work together to push for more changes and a slower implementation of the current plans

Tax / Making Tax Digital dropped from Finance Bill

Making Tax Digital has been removed from the Finance Bill 2017, as well as a majority of other tax measures such as corporate loss relief, the money purchase annual allowance for pensions and penalties for enablers of tax avoidance schemes, confirmed by government at the Finance Bill committee stage debate

Tax / Early adoption of tax common reporting standard problematic

Many of the data submissions made by early adopters over the next two months under the new common reporting standard (CRS) are likely to be rejected and returned for correction and resubmission, adding to compliance costs, according to predictions from Sovos, a global tax compliance solution provider

Tax / HMRC penalties to net self-employed couriers and workers

The Low Incomes Tax Reform Group (LITRG) has raised serious concerns about the impact of new rules on tackling tax avoidance which could have an unexpected impact on ordinary workers, particularly those hired through umbrella companies or outside standard PAYE contracts, for example cab drivers or delivery couriers

Tax / HMRC consults on 20% VAT on non-EU mobile roaming charges

HMRC has opened a four-week consultation on plans announced at Budget 2017 to charge UK VAT on all telecommunication services, particularly mobile phone calls and internet browsing, used outside the EU by UK consumers

Tax / Updated guidance on HMRC compliance checks

HMRC has updated its guidance on what happens during compliance checks on businesses, including details of what constitutes a ‘reasonable excuse’

Tax / Treasury committee cancels Making Tax Digital hearing

The Treasury Select Committee has cancelled the two evidence sessions it had scheduled for this week, one on Making Tax Digital and the other with the Chancellor of the Exchequer, due to the upcoming snap general election

Tax / Tax-free childcare scheme opens

The channels are now open for working parents to start applying for two new government childcare schemes launching this year – tax-free childcare which begins immediately and 30 hours free childcare which starts in September

Tax / Pensions held overseas fully taxable from April 2017, HMRC confirms

From the new tax year 2017/18, the full amount of any foreign pension received by a UK resident will be taxable where no UK tax relief was given on the pension savings, replacing the old 90% limit

Tax / Tax guidance updated for companies entering liquidation

HMRC has published updated guidance on mandatory online filing at the end of a company’s life, outlining the risks for companies that seek informal striking off or enter a Members’ Voluntary Liquidation (MVL) and therefore do not qualify for exemption

Tax / HMRC not doing enough to tackle £1.5bn online VAT losses

HMRC’s understanding of the amount of tax lost to online VAT fraud and error, which it says may be up to £1.5bn annually, and its efforts to tackle the problem, have been criticised by the National Audit Office (NAO) as lacking sufficient detail or urgency

Tax / FTT upholds APN non-payment penalty

A First Tier Tribunal (FTT) has dismissed an appeal from an investor in a film scheme against a penalty for failing to pay an amount specified in an accelerate payment notice (APN) by the due date because the sum he paid was allocated to a separate partner payment notice (PPN) for another scheme

Tax / Pensioners advised to delay completing tax returns

The Low Incomes Tax Reform Group (LITRG) has advised pensioners to wait until the end of May before completing a tax return due to HMRC issuing notices despite introducing a new system which means that pensioners with a state pension exceeding their personal allowance may no longer have to file a return
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