Tax

Tax / UK rejects Europe-wide corporation tax

Only 16% of UK businesses support the idea of an EU-wide corporate tax rate, and just 6% of those in Ireland, compared to the majority of European businesses which are in favour of a common approach, according to research by Grant Thornton

Tax / Gold bullion disguised remuneration still marketed despite HMRC clampdown

A year on from a concerted clampdown by HMRC, disguised remuneration schemes involving gold bullion are still being marketed to clients

Tax / UKIP promises no tax rises

Speaking at the launch of the UKIP manifesto, deputy chairman Suzanne Evans has said it is the only party going into the forthcoming election to pledge not to raise taxes, with plans to introduce a £13,500 threshold for paying income tax by the end of the next parliament

Tax / Tax issues when disposing of a UK rental property

With the buy-to-let market still holding up despite a raft of potential tricky tax changes, many people will dispose of a rental property in their lifetime. Lynsey Lord, tax manager at Mercer & Hoe, explores some of the factors which can affect the tax position on such a sale

Tax / Cohabiting pensioners missing out on tax benefits

Despite people over the pension age being the fastest growing group of cohabitees, many are missing out on tax breaks, such as inheritance tax benefits, and state pension rights which are only available to married couples, according to research by Royal London

Tax / Uber owes NY drivers millions after accounting error

Ride-hailing pioneer Uber has admitted it owes its New York drivers tens of millions of dollars following an accounting error in the way in which it calculated their commission, by using a figure which included state taxes rather than a pre-tax fare

Tax / Trump budget plan attacked over accounting maths

US President Donald Trump has published his first budget, which proposes a $3.6 trillion (£2.8 trillion) cut in government spending over the next decade to balance the budget by 2017, but it has come under fire over the calculations used

Tax / More single property landlords hit by buy-to-let changes

Following the introduction of new tax rules for buy-to-let landlords there has been a rise in the amount of single property landlords that will be pushed into the higher income tax bracket, according to the National Landlords Association (NLA)

Tax / PCS union slates HMRC’s office reorganisation plans

HMRC staff at the Public and Commercial Services (PCS) annual conference have condemned the department’s plans to close local offices as ‘impractical’, and indicated they will continue to campaign for a review of the decision to move most employees to new regional hubs under HMRC’s Building our Future (BoF) strategy

Tax / EU agrees double taxation dispute resolution system

The European Council has agreed on a new system for resolving double taxation disputes within the EU, in a bid to reduce the difficulty and the tax burden of doing business across borders

Tax / Hallam: take VAT responsibility post-Brexit

There is a growing tendency for EU tax authorities to attempt to ‘responsibilise’ third parties for the failures of clients and partners to meet VAT obligations, Accordance chief executive Nicholas Hallam warns

Tax / Scottish overseas taxpayers at risk of inaccurate bills, ATT warns

Scottish people living outside the UK are at risk of paying the incorrect tax as a result of confusion over whether they should be treated as Scottish or UK taxpayers, the Association of Taxation Technicians (ATT) warns

Tax / 31 May deadline for filing automatic exchange of information (AEOI) returns

The deadline for submitting automatic exchange of information (AEOI) returns for the year ended 31 December 2016 is 31 May 2017 for financial institutions, and that this is the first year for common reporting standards (CRS) filing

Tax / Push for manufacturers to claim R&D tax relief

The manufacturers’ representative organisation EEF has announced a partnership deal with R&D tax relief specialist Jumpstart, with the aim of providing expert advice for members to secure their full entitlement of R&D tax relief

Tax / Charitable donations cut inheritance tax bills by £880m

The amount of inheritance tax (IHT) saved by leaving money to charity has hit a record £880m, as donors look to reduce their tax bills and donate to good causes on their death
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