Tax

Tax / Scottish government needs ‘more work’ on financial management

The Scottish government needs to do more work if it is to be successful in managing public finances, according to an assessment by Audit Scotland which says it must build a clearer picture of how much financial devolution will cost and how staffing challenges will be addressed

Tax / US grassroots coalition calls for end to FATCA

A coalition of 23 US taxpayer protection and grassroots organisations is campaigning for the repeal of the Foreign Account Tax Compliance Act (FATCA), labelling the regulations 'unacceptable and un-American’ on the grounds they fail to tackle tax avoidance by US citizens based overseas while making it harder for them to live and work abroad

Tax / Charities removed from scope of 45% tax on restitution interest

HMRC has published draft legislation in relation to changes to the existing rules which apply a special corporation tax at 45% to any restitution interest payable by HMRC following a claim for a mistake, which are designed to benefit charitable and life insurance companies

Tax / Rural broadband: how to improve access as Making Tax Digital looms

The postcode lottery for business-ready telecoms for rural enterprises remains a problem, only exacerbated by HMRC's rushed plans to roll out Making Tax Digital from 2018 onwards. Dave Millett, managing director of telecoms brokerage Equinox, asks what can be done

Tax / US corporate tax regime could shift to territorial basis

The US corporate tax regime could be set for a major shift to a territorial basis, rather than its current worldwide basis, under plans to overhaul its system 

Tax / Burke: HMRC deal with footballers over tax and image rights up for renewal

More footballers could soon find image rights claims kicked into touch as HMRC launches a clampdown which could have implications for other groups, warns Brian Burke, director of business restructuring firm Quantuma

Tax / Tax-free childcare rollout from 28 April

The government’s tax-free childcare scheme will begin for parents of the youngest children on 28 April with general rollout for parents with children under 12 throughout 2017, as government launches a Childcare Choices website allowing parents to pre-register to join the scheme

Tax / HSBC chief loses closure notice bid over non-dom status

The tax status of Stuart Gulliver, HSBC group chief executive, has been put in the spotlight again following a procedural ruling at First Tier Tribunal (FTT), which found that HMRC is not bound by an earlier decision regarding his non-UK domicile status when considering his more recent tax returns

Tax / Landfill tax to be extended to illegal waste sites

HMRC is consulting on whether to extend the scope of the landfill tax to include material disposed of at illegal waste sites, as announced at Budget 2017, in a bid to tackle criminal activity

Tax / Publishing tax strategies - what you need to know

Large businesses are now required to publish their tax strategy online, with smaller businesses looking to follow suit. FD Recruit outlines the new ruling coming into effect this year, who is affected and why smaller businesses might voluntarily join in

Tax / Potential tax rule changes for late-life oil and gas assets

The Treasury has now published the discussion paper on the tax treatment of late-life oil and gas assets, first announced at Budget 2017, which considers potential changes to the tax rules to facilitate the transfer of such assets to new investors, in a bid to support economic recovery in the sector

Tax / HMRC mulls ‘split payment’ approach to online VAT collection

HMRC has issued a call for evidence on an alternative method of collecting VAT for online business to consumer sales, in a bid to tackle the growing problem of tax losses on sales via online marketplaces made by businesses based overseas

Tax / HMRC to crack down on fraud in construction industry

HMRC is consulting on proposals to combat organised fraud in labour provision within the construction sector, which include introducing a VAT reverse charge and changes to the qualifying criteria for gross payment status (GPS) within the construction industry scheme (CIS)

Tax / Tax break on employee costs in legal cases

HMRC has published draft guidance on changes to tax rules where an employer funds costs or pays for legal indemnity insurance for employees for proceedings related to their employment, with the aim of making them simpler to operate

Tax / Rules introduced on cash equivalent of assets as benefits

HMRC has set out details of new rules for calculating the taxable value of the benefit of an asset provided to an employee, member of their family or household, for private use, in circumstances where ownership of the asset is not actually transferred
Subscribe