With two government departments now having to pay around £120m to HMRC in tax, interest and penalties because of their failings in applying the off-payroll working (IR35) rules, we ask what hope is there for private sector employers?
Some tax changes seem to be introduced without proper consideration of their impact. This is neither sensible nor helpful. The Government is now proposing multiple major changes to the tax system. How much has the interaction of these been considered? Based on past evidence, not enough. We call on HMRC to report on how the combined total of all these changes will affect taxpayers.
On 1 July 2021 the EU announced sweeping changes to the VAT rules applying to cross-border business to consumer (B2C) e-commerce activities. These changes were aimed at removing a perceived commercial advantage that non-EU suppliers had over their EU established competitors.
HMRC has released a list of a sample of the excuses given by employers for not paying the mandatory National Minimum Wage (NMW). Some of them are shocking. We offer our comments.
The Treasury’s latest creative sector tax relief figures show a total of £1.31 billion was paid out during the year up to 31 March 2021.
HMRC confirmed last week that the Trust Registration Service (TRS) will be open for registration of non-taxable trusts from September 2021. As significant changes have been introduced, resulting in additional reporting requirements for many individuals and trustees, now is the time to review arrangements.
A House of Commons report lifts the lid on an impasse between the Department for International Trade and HM Treasury which threatens the success of post-Brexit UK freeports. The Cabinet needs to get a grip on this to ensure that Government policy on freeports does not run aground before the first ports come into operation.
Business owners could be missing out on millions of pounds of tax relief by failing to claim it when they start their company.
Under the terms of the new US law, the Internal Revenue Service will receive more information from cryptocurrency exchanges on the profits made by their users. Expect the UK and HM Revenue & Customs to follow suit.