History suggests that the Conservative party manifesto ‘triple lock’ headline commitment on tax rates may, if the party forms the next government, subsequently force the Chancellor to impose stealth taxes. Closer analysis of the manifesto suggests something rather different might be planned.
According to recent press reports, UK Athletics received an unexpected bill of £500,000 from HMRC to recover VAT due on sports kit supplied to it free by one of its sponsors. The case highlights the complex judgment calls not-for-profit organisations must often make in order to get their VAT accounting right.
Ministers appear to have agreed to a short-term fix to the NHS pensions crisis amid concerns about the impact on waiting times. However, the uptake of the new concession may be low because of heavy bureaucracy. Wouldn’t it be simpler if the annual allowance taper was abolished for everybody?
Are children’s clubs childcare with added entertainment, or are they entertainment with a bit of added childcare? The answer determines whether VAT is payable on the fees – an important point, not only for providers trying to meet their VAT obligations, but also for hard-pressed parents struggling to find affordable childcare during school holidays.
Most of the political parties will soon be publishing their manifestos ahead of the 12 December general election. We identify the big issues and consider how they might translate into specific tax proposals.
The Prime Minister’s plan to revoke the reduction in corporation tax rate to 17 per cent from April 2020 signals an end to the Corporate Tax Road Map published by David Cameron’s Government in 2010 and the decade-long decline in the headline rate. But is the policy driven by economic evidence or political necessity?
17th - 23rd November marks international fraud awareness week. Whilst it seems slightly incongruous to focus on such an important issue that crosses the boundaries of all sectors for just one week, it does give national and international focus on key areas of action that all organisations should consider to reduce the significant impact of fraud.
Leaders of change live in a state of constant, relentless change and uncertainty all of the time. Organisations spend considerable sums of money on implementing methodologies; changing from one methodology to a better one; sending their leaders of change on training courses. However, change often requires so much more than traditional methodology.
The Federation of Small Businesses this week joined other business and professional organisations in calling for the new IR35 rules on off-payroll working to be postponed. While there are arguments in favour of postponing, many businesses who have invested in preparing themselves would justifiably feel aggrieved if the goal posts were to move.
A taxpayer has been successful in the Court of Appeal to ensure that ordinary homeowners are not exposed to capital gains tax (CGT) during the period between exchange and completion. Surely, it’s time for HMRC to accept the legislation should work as intended and change their guidance on this.