A European court ruling means that sexual stimulants might qualify for a reduced rate of VAT in the Netherlands, alongside vitamin pills and food supplements, while UK customers continue to pay 20 per cent VAT on both.
Property sales are on the rise, but some sellers may be in for a nasty surprise if they don’t report and pay CGT (capital gains tax) on time. With most taxpayers unaware of the new rules, we ask whether conveyancers are posing the right questions. And could HMRC be doing more to help?
The world will not be the same after coronavirus. That applies to tax as much as to anything else. If tax systems are to be updated to reflect the new demands they will have to meet, shouldn’t the people who will have to pay the taxes have a say in designing them?
Coronavirus, Brexit and the independence debate are familiar subjects in Scotland. With an election next year, the recent Scottish Income Tax outturn reconciliation for 2018/19 leaves the Scottish Government facing its biggest budgeting challenge to date.
30 September is the deadline for settling disguised remuneration tax planning arrangements with HMRC. This is the date to complete the contract process, and agree payment terms, to benefit from the November 2017 settlement terms and avoid the need to report the loan charge.
A tribunal has ruled that children’s ice skates can be hired without VAT, even when included in a skating session package. This is another recent loss for HMRC in a case where it has argued that a supply that would normally be eligible for VAT relief is part of a larger supply that is subject to VAT. Will HMRC take the point further?
In the last weeks before the UK leaves its jurisdiction, the European Court has issued a ruling that may restrict VAT recovery by housebuilders on work carried out for local authorities under a ‘planning gain agreement’. Developers should watch closely for HMRC’s reaction as retrospective action could be on the cards.
The Government is reportedly considering whether to freeze NMW (National Minimum Wage) rate rises in April 2021, apparently abandoning its pledge for the NLW (National Living Wage) to reach two-thirds of median earnings, and the age threshold to be reduced from 25 to 21, by 2024.
Back in March, if an employer called HMRC to obtain a Time to Pay (TTP) arrangement for PAYE/NIC, HMRC were readily allowing 90 days, but not always making it clear that interest would be added. In May they explained that a TTP would not be agreed on PAYE/NIC relating to CJRS grant payments, while interest charges were being sent for earlier arrangements. Now, as the CJRS comes to an end, HMRC is increasingly reviewing historic claims and compliance in connection with furloughed staff.