The death knell of IR35?
For as long as I can remember, the status of an individual for tax purposes is something that has been a hot topic, both for advisers in saving clients tax and NIC, and for HMRC in targeting such tax 'avoidance'.
Tax on business sale – entrepreneurs relieved?
When Entrepreneur’s Relief was introduced in 2008 it was a simple relief with correspondingly simple legislation. Roll forward ten years and the relief has suffered from a decade of tinkering and loophole closing.
Brexit and your strategy – what are the tax implications?
We have found that clients who are trading within the EU, or are about to start to look at markets outside the UK, are having to review their strategy and consider the tax implications along with the commercial aspects.
Tax rises signalled by Chancellor
The Chancellor of the Exchequer, Philip Hammond, has signalled that tax rises are on the cards in the next Budget in order to pay for an increase in spending on the NHS announced on 17 June 2018.
Do you have a Requirement to Correct?
Requirement to Correct (RTC) legislation was introduced during the Finance Act 2017, to tackle offshore non-compliance. In simple terms it requires UK taxpayers to ensure that all foreign income and assets, where there may be UK tax to pay, have been correctly declared to HMRC by 30 September 2018.
Overseas, under scrutiny
'Offshore' and 'Overseas' have become dirty words in tax over the last few years. Partly because of genuine tax evasion coming to light through whistle blowers and data leaks but also because of a kind of trial by media where any foreign financial connection is viewed with deep cynicism.
Contractor consultation causes consternation
On 18 May 2018 HMRC launched a consultation about off-payroll working in the private sector. This follows on from the introduction of new rules regarding off-payroll working in the public sector in April 2017.
Taxflash: Mileage rates – June 2018
HMRC regularly publish approved 'fuel only' rates which have, again, changed.
Avoiding VAT penalties – when paying a day late can cost you £300,000
It’s strange to think that until the 1980s there were no penalties for innocent VAT errors. Now the error can be punished by up to 100% of the VAT in issue.