Tax

Tax / NAO to look at online overseas retailer VAT evasion

The National Audit Office (NAO) is to carry out an investigation looking at the risk of VAT evasion by overseas online retailers, which HRMC has estimated costs the Exchequer around £1bn a year

Tax / Treasury chief Ellison pledges ‘steady, predictable tax regime’

Jane Ellison, financial secretary to the Treasury, has pledged to maintain ‘a steady, predictable tax regime’ and states that there is a need for practical changes to increase certainty, in response to a debate within the accounting profession over how tax policy is best developed

Tax / Grandparents missing out on childcare NI credit

Working-age people who give up their job to provide childcare for their grandchildren risk damaging their state pension entitlement because of failure to take up a little known benefit, designed to protect their National Insurance (NI) credits, according to analysis by insurer Royal London

Tax / Trump inauguration: US tax reform tops agenda

Ahead of president elect Donald Trump’s inauguration tomorrow, his victory in the US presidential election has given people reason to start talking seriously about a real possibility of a long awaited comprehensive US tax reform, explains Jeff Whener, Jon Traub and Natalia Mityaeva at Deloitte

Tax / HMRC adds voice recognition to digital security features

HMRC is to add voice recognition to its options for taxpayers to confirm their identity to access its services, with the addition designed to speed up the security process

Tax / Treasury finalises Lifetime ISA rules effective April 2017

The Treasury has announced the formal launch of two new government-backed savings vehicles, the Lifetime ISA (LISA) and the Help to Save scheme, and has clarified their interaction with the existing Help to Buy ISA

Tax / BEIS launches review of Scottish limited partnerships

The Department of Business, Energy & Industrial Strategy (BEIS) is to undertake an official review of limited partnerships in the UK, focusing particularly on alleged 'criminal' exploitation of Scottish limited partnerships (SLPs)

Tax / BREAKING: May's 12-point plan for leaving the European Union

Prime Minister, Theresa May, has today outlined a 12-point plan to prepare the UK to leave the European Union, stating that the UK cannot stay in the single market, and has confirmed that parliament will have a vote on the final Brexit deal when it has been agreed

Tax / Register of people with significant control will not affect Crown territories

The government has quashed calls to look at extending the requirement to publish a public register of people with significant control to companies incorporated in the Crown dependencies and overseas territories, as part of a bid to increase tax transparency, saying new rules on the automatic exchange of information are sufficient to address the issues

Tax / Tax changes see one in four buy-to-let landlords sell up

The changes to mortgage interest relief (MIR) have led a quarter of buy-to-let landlords to put in place plans to sell up, while 20% are setting up limited companies in response, according to research by the Residential Landlords Association (RLA)

Tax / NAO slams HMRC deal with Concentrix

HMRC’s contract with Concentrix to provide additional capacity for checking tax credit awards delivered just £193m of savings compared to the original estimate of £1bn, according to a National Audit Office (NAO) investigation, while a third of the outsourcer’s decisions to stop payments were subsequently overturned after review

Tax / Buy-to-let taxation: quarterly reporting for landlords - part 2

In part two of our exclusive series on buy-to-let taxation, Cathy Corns, corporate tax partner at Mercer & Hole outlines HMRC's quarterly tax reporting requirement for landlords as part of Making Tax Digital, which is set to come into force from April 2018

Tax / Institutes release 10-point plan to improve tax policy and Budget

The Chartered Institute of Taxation (CIOT), the Institute for Fiscal Studies (IFS) and the Institute for Government have set out a 10-point plan to improve how tax policy is made in the UK and to better the Budget process

Tax / HMRC plans ‘year-long’ Making Tax Digital pilot

HMRC has confirmed plans to undertake a year-long pilot of Making Tax Digital for ‘hundreds of thousands’ of taxpayers following criticism at the hands of MPs in the Treasury Committee

Tax / Government plans to reform horserace betting levy

The government has confirmed it is to reform the horserace betting levy in order to bring offshore gambling companies within its remit, in a bid to boost funding for the sport and the equine industry in general
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