Tax / HMRC confirms end of traditional tax return

HMRC has provided more details of the new simple assessment system, designed to end the traditional tax return process, under which taxpayers who used to provide information under self assessment will no longer need to do so, as returns will now be pre-populated with existing data from other sources

Tax / Offshore penalties: how to avoid falling foul of strict tax rules

Severe penalties await those who fail to correct offshore tax non-compliance as the government firms up the rules for proposed ‘requirement to correct’ (RTC) and associated penalties applying to ‘failure to correct’ (FTC). Meg Wilson considers the implications for tax advisers and clients

Tax / Solicitors face scrutiny over tax planning advice

Solicitors providing tax planning services could face greater scrutiny from the Solicitors Regulatory Authority (SRA) and HMRC as government begins to clamp down on aggressive tax avoidance schemes

Tax / HMRC signs lease for Birmingham regional hub

HMRC has signed a 25-year lease for its Birmingham regional hub with the tax authority and department for Work and Pensions (DWP) planning to move 3,600 staff into the offices from 2020, which has been named as the largest pre-let to take place in the city in a decade

Tax / Future of capital allowances up for OTS review

The Office of Tax Simplification (OTS) is to review options for replacing the current capital allowances tax relief system with an accounts depreciation approach as the current model is too complicated and expensive for businesses to administer, reports Sara White

Tax / Simple assessment tax changes for state pensioners

For the 2016/17 tax year, pensioners who started to receive a state pension on or after 6 April 2016 and have no other taxable income will not be required to file a tax return, instead HMRC will send a simple assessment based on its own calculations

Tax / HMRC mid-sized business service to help 170,000 companies

As many as 170,000 mid-sized companies will benefit from extra help from HMRC tax specialists, under plans confirmed by the tax authority

Tax / Accelerated payments to HMRC over disputed tax up 21% to £1.3bn

HMRC collected £1.3bn in disputed tax in 2016/17 through its use of accelerated payment notices (APNs), a 21% increase on the previous year when it received £1.07bn, according to Moore Stephens

Tax / Farming: ownership disputes and legal status - part 6

Julie Butler FCA considers whether the inclusion of an error in the accounts changes legal ownership highlighting the issues raised in the long-running and contentious Ham v Bell & Ors [2016] EWHC 1791(Ch), settled at the High Court last year

Tax / Anti-money laundering online service rejecting certain reference numbers

HMRC’s new anti-money laundering service, the Supervised Business Register, provides taxpayers with longer reference numbers which are not currently compatible with its search tool, meaning taxpayers must use the company name to verify if the business is registered under Money Laundering Regulations

Tax / HMRC launches consultation on Help to Save scheme

HMRC has published a six-week technical consultation on secondary legislation relating to the Help to Save scheme aimed at working families on low incomes, which is set to launch in April 2018

Tax / Corporate loss tax rules could be double edged sword

Menzies tax manager Natasha Spicer and tax director Lucy Mangan consider the impact of changes to the tax regime for corporate losses with the introduction of rules to curb corporate use of interest deductibility

Tax / Edward Troup retires as HMRC executive chair

HMRC’s executive chair and first permanent secretary, Edward Troup, has announced plans to retire after working for the tax authority for five years, officially departing on 31 December 2017

Tax / HMRC updates worldwide disclosure facility with 90-day extension

HMRC has updated its guidance on the worldwide disclosure facility (WDF) used to disclose a UK tax liability that relates wholly or in part to an offshore issue to allow an additional 90 days to make a disclosure

Tax / HMRC puts post-Brexit border tax costs at £800m

HMRC chiefs have warned MPs that the department will need thousands more staff to handle customs and tax requirements once new trade arrangements are established post-Brexit, and are examining a ‘Singapore-style’ option