Tax planning

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 / 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 / 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 / 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

Tax / EU criticises Hammond's proposed UK tax plans

Ahead of a key speech by Prime Minister Teresa May tomorrow, in which she will indicate how the UK intends to approach negotiations to leave the EU, the Chancellor’s suggestion of a possible cut in the corporation tax rate if there is a ‘hard’ Brexit has attracted strong criticism

Tax / Five-year tax break for digital cable suppliers

Telecoms network suppliers are to be offered a £60m tax break for creating new infrastructure for full fibre broadband, as part of the government’s plans to boost the UK’s digital revolution and switch to online services

Tax / Treasury committee inquiry into £4bn Parliament refurbishment

The Treasury committee is to examine government plans to spend around £4bn on repair work on the Houses of Parliament, saying an inquiry is needed to establish on what basis the funding is required, as a report on the issues from Deloitte is insufficiently detailed

Tax / BREAKING: MPs call for immediate delay to Making Tax Digital

HMRC's Making Tax Digital programme has the potential to be an expensive disaster unless plans for the national rollout are delayed, according to MPs in the Treasury Committee, who are calling for a one to two year delay to the introduction of quarterly reporting, which is being rushed through to meet a 2018 kickoff date