Tax Online Blog

The ‘digital exclusion’ exemption for MTD: Its origin and scope

Of the recommendations of the recent Report on Making Tax Digital for VAT: Treating small businesses fairly by the House of Lords Economic Affairs Committee (Finance Bill Sub-Committee), one in particular was aimed at the digitally excluded: ‘We recommend that HMRC develops guidance on the practicalities of claiming digital exemption with the representative bodies and. Read more

HMRC review HICBC failure to notify penalties

HMRC’s announcement that they would review certain cases where penalties were charged on taxpayers who had failed to register for the high income child benefit charge (HICBC), and refund them where there was a reasonable excuse for the failure, is unusual in that the taxpayer normally has to take the initiative in pleading reasonable excuse.. Read more

The disguised remuneration loan charge: ‘No legal or moral basis’ or a fair anti-avoidance measure?

The loan charge is an attempt to tax certain so-called ‘disguised remuneration’ schemes under which employees, workers or contractors are paid not through wages or salary subject to payroll taxes, but by means of a loan, usually routed through a third party such as an employee benefit trust or kindred vehicle. In practice, such loans. Read more

There’s No Time Like the Present To Get Prepared for Making Tax Digital (MTD)

Making Tax Digital (MTD) will become effective from 1 April 2019. It’s a government initiative that requires businesses with an annual turnover above the VAT threshold (£85k) to submit their accounting information digitally every quarter and means that all VAT returns, and the digital records of the VAT return, will need to be submitted via MTD. Read more

Can HMRC guidance be relied upon?

The Office of Tax Simplification (OTS) has published a timely report entitled ‘Guidance for taxpayers: a vision for the future’. The report’s vision is for guidance geared to the needs of users, graded according to whether the user seeks basic, more advanced or specialist technical levels of help, with systems to direct users to the. Read more

October Online Service Updates

What’s new in our plethora of tax online services? Steve Savory summarises the highlights. Although it seems like only five minutes ago that the new 2018/19 editions of the tax annuals appeared, they are already receiving their first round of online updates. Each of the annuals has a page summarising all the most recent changes. Read more

The Finance Bill: here we go again!

Mark McLaughlin highlights some important provisions in the latest Finance Bill and notes some other measures still to come. Another cycle of new tax legislation has begun. The latest Finance Bill was published on 7 November 2018. Its official title is Finance (No. 3) Bill 2017-19, but it could perhaps be less confusingly described as. Read more

Courts and Tribunals: September 2018

Class 1A NIC: repaid private fuel constituted a benefit for company fuel card holders Extended periods of time allowed for a company’s fuel card holders to provide details to the company of their private mileage expenses and repay the fuel provided constituted a benefit to the holders both in the ordinary sense of the word. Read more

VAT news and cases roundup: September 2018

HMRC issues guidance on Brexit no-deal HMRC has issued a range of guidance notices informing the public and businesses of the implications of the UK leaving the EU without a formal withdrawal agreement. The government emphasises that this is unlikely given the progress of ongoing discussions. One of the notices concerns VAT implications for businesses. Read more

The Busy Practitioner: Pay up …sooner!

The government has made no secret of its approach that ‘sooner is better’ when it comes to tax receipts into the Exchequer. In particular, legislation is to be introduced (in Finance Act 2019) requiring UK residents to make a payment on account of capital gains tax (CGT) following the completion of a residential property disposal. The. Read more

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