2012-05-17 12:15:00
Tax professionals should be willing to defend tax rules when they're wrongly criticised, according to Patrick Stevens, the new president of the Chartered Institute of Taxation (CIOT).
2012-05-15 08:30:00
HMRC have published guidance on business entity tests for the purposes of the intermediaries legislation, known as IR35.
It provides information about the department’s risk-based approach to checking compliance, and explains how taxpayers can work out which risk band they are in with the help of the new tests.
2012-05-14 11:45:00
Changes have been made to the VAT treatment of types of face-value vouchers.
The revamp, which will be included in the current Finance Bill and have retrospective effect to 10 May 2012, comes a result of the European Court of Justice (ECJ) decision in Lebara Limited v CRC (Case C-520/10),
2012-05-11 15:20:00
The use of a common consolidated corporate tax base (CCCTB) should become mandatory after a transition period, according to the European Parliament in Brussels.
The measure was agreed by a resolution – approved by 452 votes, with 172 against and 36 abstentions – after the European Commission had proposed a voluntary scheme.
2012-05-09 15:00:00
The state’s continuing efforts to move its public-facing activity online is adversely affecting a ‘significant’ number of people, according to the Low Incomes Tax Reform Group (LITRG).
2012-05-08 08:30:00
The ICAEW Tax Faculty has expressed anxiety about HMRC’s stance on Mansworth v Jelley losses, after reports revealed that the department is sending standardised letters to taxpayers pursuing a claim in respect of the case, despite many people having already sent a detailed reply to the Revenue's February request for claims to be withdrawn.
2012-05-04 11:55:00
Electricians have until 15 May to register to pay undisclosed tax and suffer only a minor penalty.
Under HMRC’s electricians tax safe plan, individuals pay outstanding tax and interest while incuring a fine ranging between an addtional 10% and 20%. The Revenue can usually demand up to 100% of the money owed and will undertake criminal investigation in the worst cases.
2012-05-04 08:25:00
The Scotland Act has received royal assent, giving powers for the Scottish parliament to set a local rate of income tax different from that of the UK’s.
A new rate is expected to be introduced from 6 April 2016, and ITA 2007 will be amended to peg the income tax rate for Scotland’s taxpayers at ten percentage points below the main UK rate.
2012-05-03 09:35:00
All Revenue guidance relating to senior accounting officers (SAOs) has been superseded by the department’s new Senior Accounting Officer Guidance Manual.
2012-05-01 08:30:00
HMRC’s assessment of the impact of the introduction of real-time information (RTI) on small employers is inadequate, according to the Low Incomes Tax Reform Group (LITRG).
