Politics

Tax / Lib Dems call for tougher penalties on foreign property investors

In his first speech as Liberal Democrat leader, Vince Cable has called for ‘fierce’ tax penalties on overseas residents purchasing UK property for investment purposes and outlined plans to replace student fees with a graduate tax

Tax / EU finance ministers agree to draft digital tax laws for IT giants

The EU is closer to reaching agreement on draft rules for a pan-European digital tax basis for major multinational IT giants such as Amazon and Google, with proposals based on permanent establishment status due to be released in spring 2018

Tax / Roy-Chowdhury: end of fossil fuel taxes will dent Exchequeur

Public finances must adapt to a future without fossil fuel cars but the Treasury will find it hard to take the  loss when the cash cow of £28bn in annual fossil fuel taxes dries up, warns Chas Roy-Chowdhury, head of taxation at ACCA

Audit / Lack of transparency over government use of £973m Libor Fund

The National Audit Office (NAO) has slated the government’s handling of the £973m Libor Fund, which makes charity donations from fines paid by banks for manipulating key benchmarks, saying it is unclear whether the money has been used as intended and whether a commitment to fund additional apprenticeships has been met

Tax / Finance Bill (No.2) to be published 8 September

The government has announced the Finance Bill will be published on Friday 8 September, following the delays caused by the April snap election

Tax / Scottish government may raise income tax by 1p

The Scottish government has signalled it is considering using new devolved tax powers to vary the rate of income tax for the first time, after first minister Nicola Sturgeon announced a discussion paper on ‘the use of income tax in Scotland to support public services’

Tax / Farming: prospects post-Brexit - part 4

With the prospect of Brexit less than two years away, for the first time in more than 40 years, the UK can create its own farming policy. National Farmers Union chief economics adviser Dr Andrew Francis considers the pros and cons of a new tariff environment for the farming community and their tax advisers

Tax / Trump lays groundwork for tax reform but offers no details

Donald Trump has once again reiterated his desire to undertake swingeing tax reforms which he claims would let loose the US economy and benefit ordinary Americans, despite providing no detail in his proposals

Tax / Scottish rate of income tax: who should pay?

Devolution has seen real change to the UK tax system with the introduction of tax raising powers for the Scottish government and the introduction of the Scottish Rate of Income Tax (SRIT). Saffery Champness partner Elaine McInroy considers the key issues for employers and employees defined as Scottish taxpayers

Tax / Pretty green: Ireland's future post US tax reform and Brexit

As the US Trump administration considers its options for tax reform and Brexit approaches, Calum Fuller examines the impact on foreign direct investment in Ireland and whether it is equipped for change

Tax / Finance Bill (No.2) 2017 briefing confirms retrospective tax rules

The Treasury has issued a briefing note on Finance Bill (No.2) 2017 setting out the key legislative changes with a very brief description of each measure and clarifying whether measures will be retrospective from non-doms to loss relief reform, but hints that changes to the dividend nil rate could be delayed

Tax / Nunn: listen and learn HMRC

Yvette Nunn, director of Berkeley Associates, welcomes the government's decison to delay HMRC’s Making Tax Digital project implementation until 2020, except for VAT, so that small businesses and landlords have more time to prepare, but warns that there are fundamental problems with current HMRC IT systems which need to be addressed

Tax / Osborne picked up Cabinet redundancy payment

Former Chancellor George Osborne picked up a five-digit redundancy payment when he was sacked in the reshuffle when Theresa May took over as prime minister after the Brexit vote

Tax / Second Finance Act pushed into autumn but measures effective April 2017

All measures dropped from the Finance Act including loss relief and non dom changes in the run-up to the election will be reinstated in a Second Finance Bill which will be introduced as soon as possible after the summer recess when MPs return to parliament 

Tax / Making Tax Digital delayed until 'at least' 2020 except for VAT

The government has caved into pressure over Making Tax Digital and has delayed rollout by 'at least' two years until 2020 with the deferral confirmed by the Treasury, although quarterly VAT reporting using the system will be mandatory from 2019, reports Sara White
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