Tax / Technical consultation on change to landfill tax regime

HMRC has launched a technical consultation on secondary legislation to extend landfill tax to illegal waste sites and to clarify the definition of ‘taxable disposal’, following changes to the regulations for England and Northern Ireland from 1 April 2018

Tax / Making Tax Digital for VAT: how will it work

Plans to go ahead with Making Tax Digital for VAT reporting from April 2019 are well under way with the government consulting on final details of the rules for so-called ‘electronic accounts’. Stephen Relf CTA ACA, tax writer at Croner-i, examines the proposals 

Tax / Consultations: Jan - March 2018

A roundup of current consultations from HMRC, including Making Tax Digital for VAT, rent a room relief, royalties withholding tax, Making Tax Digital interest harmonisation and sanctions for late payment

Tax / Royalty withholding tax: what it means for digital multinationals

As the government tries to curb tax leakage through royalties shifted offshore by multinationals with  plans to introduce a withholding tax, Pinsent Masons partner Eloise Walker examines the policy’s chance of success and looks at some of the practical issues facing companies open to the charge 

Tax / HMRC consults on Making Tax Digital VAT rules

HMRC has issued a seven-week consultation on the rules for VAT reporting under Making Tax Digital, due to come into force from April 2019 for businesses registered for VAT

Tax / Plans for ‘conditionality’ measures to tackle £3.5bn hidden economy

HMRC is consulting on proposals to introduce ‘conditionality’ measures to tackle the hidden economy, which would make compliance with certain tax obligations a condition of holding some licences, and introduce checks on applicants’ tax-registration status as part of licensing processes

Tax / Consultation on devolved Welsh landfill tax

HMRC has announced a four week technical consultation on legislation covering the devolution of landfill tax to Wales and closure of the landfill communities fund (LCF)

Tax / Requirement to notify HMRC of offshore structures a reputational risk, say stakeholders

The requirement to notify HMRC if a client is engaged in offshore tax structures carries a reputational risk and could have implications for entirely legitimate structures, a summary of consultation responses reveals

Tax / Tax rules for VAT on vouchers set to be simplified

HMRC is holding a technical consultation about updating the VAT legislation for vouchers to bring it up to date with the revised EU VAT directive

Tax / HMRC consults on corporate interest restrictions and IFRS 16 Leases

A consultation has been launched by HMRC on corporate interest restrictions in order to take account of the accounting changes brought about by IFRS 16 Leases

Tax / HMRC plans overhaul of tax penalties

As part of its Making Tax Digital initiative, HMRC is consulting on ways to simplify the range of penalties, sanctions and rates of interest across the main taxes, income tax self assessment, corporation tax and VAT

Tax / Digital multinationals face £285m royalty withholding tax

Major multinationals who operate in the digital arena and are non-resident for tax purposes are likely to be caught by new rules whereby royalties realised in the UK will be subject to tax, under draft plans set out in a Treasury consultation

Tax / HMRC consults on tax changes to plant and machinery leases

Due to changes to international accounting standards on lease accounting under the forthcoming IFRS 16 Leases, HMRC has issued a consultation on proposed changes to the tax code to ensure the tax treatment of leases reflects lease accounting rules post 2019

Tax / Consultation on allowing transfers of shares and securities in venture capital trusts

A consultation is being conducted to over legislation which will allow venture capital trusts to exchange shares and securities without relying on HMRC to decide if transactions are permissible ad hoc

Tax / Finance Bill reforms cut burden of handling tax on employee expenses

The Finance Bill 2017-18 will contain a number of specific reforms to the taxation of employee expenses, but will stop short of a major overhaul of the current rules, after responses to a consultation earlier this year indicated that they are generally fit for purpose