HMRC has recently published a survey into the drivers of tax compliance among the wealthy. The results seem to have surprised HMRC more than professional tax advisers.
Making tax digital (MTD) for income tax was seemingly kicked into the long grass when it was announced that it would not come in until 2021 at the earliest. But a new pilot scheme involving landlords suggests that the idea is still very much alive.
Summary of the Northern Restaurant and Bar awards from an insider’s view, covering the power of social media for restaurants and bars, and the importance of creating brand loyalty through treating staff well.
A look into the reasons behind an increase in airline collapses. What travel businesses can do to avoid failure, and what the future holds for airlines.
The declarations made by the British, Scottish and Welsh governments, as well as by cities including London, Edinburgh, Bristol and Manchester, that climate change is a national emergency reflect the greatest concern of our times but do not commit to any action. However, the ‘Net Zero’ report by the UK Committee on Climate Change is full of specific recommendations. Taxes will almost certainly rise. We look at the details.
Until relatively recently Capital Gains Tax has only applied to UK residents. However, changes have been taking place since 2015 which now mean that non-UK residents can be taxed on the disposal of UK real estate. Real estate owners need to be aware of their new CGT obligations as HMRC is already charging penalties for unpaid tax and late returns.
From 15 July this year some businesses holding all the usual import VAT evidence may be refused the right to recover import VAT because they do not own the goods in question at the point at which the UK import declaration is submitted. While toll (or contract) manufacturers have been singled out in newly published guidance, this change could be a nasty shock for many other UK organisations importing goods into the country.
The recent tax case relating to Lorraine Kelly shows how important it is that television personalities, and other people too, can argue successfully that they control their own work and therefore should not be taxed as employees. For 40 years or more HMRC has been seeking a simple distinction between employment and self-employment but has so far failed to find one.
In his valedictory address in this week's tax brief, RSM tax consultant Andrew Hubbard looks back at over 30 years in tax and reflects on how the landscape has changed – for the worse and for the better.