RTI and penalties

[01/11/2013] A look at the PAYE penalty regime under RTI.

VAT penalties

[31/10/2013] A summary of the VAT penalties currently applicable.

Capital gains tax on property leases

[29/10/2013] The income and capital gains tax treatment for property leases can be complex and it is worth while considering the basic rules.

The taxpayer fights back

[29/10/2013] Taxpayers successful in fight against HMRC’s online filing requirements.

VAT Update - October 2013

[29/10/2013] Details of the latest changes to VAT from HMRC, along with changes to VAT Notices and VAT in the European Union.

Gifts and inheritance tax

[15/10/2013] Help clients understand the types of transfers which can be made under inheritance tax legislation.

Zero-rating for indirect exports

[15/10/2013] The VAT rating for goods exported outside the EU is changing.

Refunds of Stamp Duty Land Tax (SDLT)

Charitable organisations should consider if they have overpaid SDLT following the decision of the Court of Appeal.

Employee ownership and employee shareholder status

Details of employee ownership and employee shareholder status

Tariff Trade Agreement - Central America

[18/09/2013] Reciprocal Preferential Trade Agreement between EU and Central America came into force on 1 August 2013.

US tax residents

[18/09/2013] HMRC has issued an update on the Foreign Account Tax Compliance Act (FATCA).

Inheritance tax - Scotland

HMRC has produced a suite of forms for dealing with inheritance tax on Scottish estates

Inheritance tax – gift schemes

[16/09/2013] Discounted gift schemes can exist where a gift or gifts are made by an individual whose estate is likely to face an IHT charge and where the gift or gifts are structured to ensure that the value of the gift is less than the value of the assets being removed from the individual’s estate. The most common schemes are insurance product based.

Applying capital gains tax in divorce cases

[12/09/2013] Divorce often results in the transfer of assets between spouses. Understand how and when CGT applies.

Disincorporation relief

[12/09/2013] Disincorporation Relief is available to small businesses looking to convert from being a corporation subject to the regulations of the Companies Acts to the flexibility of being unincorporated.

Benefits in kind

A detailed look at income, in the context of employment.

International standard for public benefit entities

Details of CCAB research into the need for not-for-profit organisations.

Gift aid

HMRC has published detailed guidance on The Gift Aid Small Donations Scheme (GASDS)

Tax avoidance schemes

HMRC, as part of its 'Spotlights' updates, has issued warnings on two types of tax scheme.

VAT update: August 2013

A number of VAT consultations were announced in the Budget 2013.

Withholding tax rates

Maximum rates of tax those countries with a Double Taxation Agreement with the UK can charge a UK resident on payments of dividends, interest, royalties and management/technical fees.

HMRC campaign targets tax return catch-ups

HMRC has launched its latest campaign entitled 'My Tax Return Catch-Up'

The UK General Anti-Abuse Rule

Chas Roy-Chowdhury, August 2013. This article considers tax avoidance and the possible effects of the UK General Anti-Abuse Rule (GAAR), which came into effect in July 2013.

HMRC enquiries – re-opening earlier years

Tribunal case reveals that HMRC’s method of calculating income for earlier years on the basis of spreading is open to challenge where a more reasonable and accurate method is appropriate

Remittance basis 2011-12: HMRC exercise

HMRC announce an "educational exercise" aimed at taxpayers taxed on the remittance basis due to a perceived lack of understanding of what constitutes a remittance.

Cash accounting - the pros and cons

Arguments in favour of and against the cash accounting regime for small businesses, which is optional for small unincorporated businesses from 6 April 2013.

Defined benefit plans: employee contributions, proposed amendments to IAS 19

Comments from ACCA to the International Accounting Standards Board (IASB), 25 July 2013

FRSSE 2015 amendments under UK GAAP framework

The new UK GAAP framework, mandatory from January 2015, does not dispense with the FRSSE

iForm problems and P11D, P11D(b), and P9D

We have been informed by HMRC that it will accept that there are problems with the iForm (P11D, P11D(b), and P9D which are all part of the same i-form release) and these will be treated as ‘reasonable excuse’ if reliance on the iForm results in delays in filing.

VAT: single or multiple supplies

Subjective judgement required to apply the basic principles and guidance, as a recent tax case illustrates.

Loan relationships - common problems demystified

Understand the basics of the loan relationships legislation and some of the more common real-life scenarios that crop up.

Annual tax on high-value enveloped dwelling properties

Prepare clients with high-value properties for returns due in October.

Loans to directors, trusts and LLPs

Anti-avoidance legislation aimed at loans to directors to be extended.

Seed enterprise investment scheme - HMRC guidance

Several changes to the SEIS were announced in this year’s Budget.

Partial exemption - education

A framework that provides guidance on Partial Exemption (PE) for Higher Education Institutions (HEIs) has been made available by HMRC.

Updated HMRC notices

HMRC updated a number of notices in April.

Termination payments - a refresher

The tax consequences of termination payments on cessation of employment

Accession of Croatia to the European Union

HMRC has issued Excise Information Sheet (13) 04 Accession of Croatia to the European Union

Stamp duty land tax - Transfer of going concern claims

HMRC inviting claims following Robinson Family TOGC case.

Insolvency

HMRC have re-issued Notice700/56 Insolvency.

Carrier bag levy

HMRC have issued Revenue and Customs Brief 07/13 VAT: Introduction of a levy on 'single-use' carrier bags in Northern Ireland.

Class 2 NIC

HMRC are sending payment requests for outstanding Class 2 National Insurance contributions.

Inheritance tax and quoted securities

The list of recognised stock exchanges for post-death IHT revaluations has been updated.

Disclosure facilities and campaigns

A summary of the current HMRC campaigns and disclosure facilities that are currently running

Leaving the UK

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Arriving in the UK

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Four automatic UK residence tests

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Statutory Residence Test: Overview of the legislative changes

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Split-year treatment

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Residence

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Sufficient ties test

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Repairs and renewals

HMRC have issued Revenue and Customs Brief 05/13 Direct tax: Guidance on repairs and renewals of assets, its draft guidance on what is a repair for direct tax purposes.

Pension and employer benefit consultants

HMRC issue briefing relating to pension and employee benefit consultants.

Four automatic overseas residence tests

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Temporary periods of non-residence

ACCA UK have produces a series of articles on residence and domicile, following the introduction of the statutory residence test from 6 April 2013.

Residence and Domicile

Visit our dedicated section on Residence and Domicile following the introduction of the statutory residence test with effect from 6 April 2013.

Research & Development Tax Relief

An overview of the tax reliefs available on expenditure on research and development

Back to basics: loan interest relief

A look at the rules relating to tax relief on loan interest.

Above-the-line credit

Budget 2013 announced the introduction of an above-the-line credit for research and development (R&D) expenditure incurred by large companies on or after 1 April 2013.

VAT consultations: a roundup

Details of VAT updates.

VAT: European changes

A summary of the latest changes to VAT across Europe.

General anti-abuse rule

After much speculation a general anti-avoidance rule – the General Anti-Abuse Rule (GAAR) – has emerged within the Finance Bill 2013

Changes to class 2 and class 4 NICs

Sleeping and inactive partners will be affected by changes introduced by HMRC this month.

The 40th anniversary of VAT in the UK

Chas Roy-Chowdhury, May 2013. This paper provides a high-level review of the first 40 years of VAT in the UK, its context in the European Union and its future prospects. We see in the paper the general trend towards governments using VAT to a much greater extent as a significant revenue raiser and the increasing pressures to broaden the VAT base by reducing exemptions and zero rates.

Finance Bill 2013

A look at some of the highlights of the 2013 Finance Bill

Disadvantaged Area Relief (DAR)

Information on claims following abolition of Disadvantaged Area Relief (DAR)

Plant & Machinery: Comment on Fixtures

HMRC guidance on Plant and Machinery Allowances for secondhand fixtures

Taxable commission

HMRC have issued Revenue and Customs Brief 04/13 Payments of trail commission.

HMRC Agent Account Manager service

HMRC has set up a team of Agent Account Managers (AAMs) to assist agents and advisers to deal with HMRC more easily and effectively

HMRC Isle of Man disclosure facility

Details of the recently agreed Isle of Man disclosure facility