Tax Online Blog

Changes to simplify the dividend tax process for HMRC could cost small businesses in the long run

Changes to simplify the dividend tax process for HMRC could cost small businesses in the long run

Small business owners making the most of the tax-free dividend allowance in the UK have already seen an impact on their savings and the cash available to them, due to a significant reduction that saw the allowance shift from £5,000 to £2,000 in April 2018. And now, family owned companies, small business owners and individuals. Read more

HMRC Enquiries: meeting up?

HMRC Enquiries: meeting up?

A tax return enquiry by HMRC is a possibility for virtually any person who files a return. A common feature of tax return enquiries (especially for business owners) is that HMRC often request a meeting with the taxpayer, particularly at an early point in the enquiry. The prospect of a meeting with HMRC is generally. Read more

VAT news and cases roundup: June 2018

VAT news and cases roundup: June 2018

Loan administration services fell within the definition of debt collection services Target Group Limited v Commissioners for Revenue and Customs [2018] UKFTT 226 (TC) was an appeal against a decision by HMRC that loan administration services supplied by the appellant to a UK bank, Shawbrook Bank Limited, were standard-rated supplies for VAT purposes, rather than exempt. Read more

Status quo?

Status quo?

Kate, Upcraft, one of the contributors to our Payroll Management Manual takes a look at the recent rash of employment status cases and what the future might hold From the perspective of court rulings, it does seem as if the issue of employment status is on a repeating loop at the moment. But the subject. Read more

One Month in a Minute: June 2018

One Month in a Minute: June 2018

Draft legislation for Finance (No 3) Bill The government announced on 11 June that it will publish draft clauses for Finance (No 3) Bill on 6 July 2018, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents. All publications will be available on the gov.uk website. Making Tax Digital:. Read more

EU Directive: new mandatory disclosure rules and their impact in the UK

EU Directive: new mandatory disclosure rules and their impact in the UK

On 25 June 2018, significant new EU cross border direct tax disclosure rules came into force, which will have an impact on businesses across the bloc. These rules now fall to be implemented by all 28 EU Member States (including the UK under the terms of the expected Brexit transitional agreement). At first blush, the. Read more

July Online Service Updates

July Online Service Updates

What’s new in our tax online services? Steve Savory summarises the highlights. Big news this month is the publication of a major new, one volume guide to UK accounting standards. “One volume” doesn’t mean “small” though – A Practical Guide to UK Accounting and Auditing Standards by Steve Collings runs to more than 1600 pages. Read more

Blog: UK Research and Development Third Edition

Blog: UK Research and Development Third Edition

UK Companies can now retrieve up to 33% of their RD spend through HMRC reliefs and tax credit payments. Yet fewer than an estimated 37% of Companies eligible for this important funding do so. UK Science and Technology Companies are rarely far from the News, with important 5G and Space Satellite programmes reaching worldwide platforms.. Read more

One Month in a Minute: May 2018

One Month in a Minute: May 2018

GOING DIGITAL HMRC announced in a Public Accounts Committee session on 30 April 2018 that its digital transformation programme was being slowed down in some areas, to meet demands for resource as a result of Brexit. While MTD for VAT is still on track for April 2019, other projects are being sidelined: The simple assessment programme. Read more

VAT news and cases roundup: May 2018

VAT news and cases roundup: May 2018

Brexit cost for small businesses Following Brexit, the distance sales thresholds will disappear and UK e-retailers could have additional compliance costs. In a survey of 989 small e-retailers the estimated cost per company of new EU VAT registration and returns obligations could amount to €28,568 p.a. for each business. An estimated 27,040 UK small companies. Read more

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