Politics

Tax / Whiscombe: what's the chance of reforming VAT post-Brexit

VAT is a European construct so post-Brexit any government could have the freedom to reform this hugely complex and irrational VAT rating system, argues David Whiscombe CTA, partner at BKL

Tax / Treasury confirms ministerial team

The Treasury has confirmed details of its ministerial team, with two new appointments as exchequer secretary and financial secretary joining the existing team, following Prime Minister Theresa May’s government reshuffle earlier in the week

Tax / No change at top of Treasury in Cabinet reshuffle

Chancellor Philip Hammond held on to his seat in Prime Minster Theresa May’s new year Cabinet reshuffle, which saw no major changes after senior members refused to change jobs, including health secretary Jeremy Hunt who turned down the option to become business secretary

Tax / HMRC denies tax attack on Leave EU donors

HMRC has been forced to issue a rebuttal over media suggestions that individuals who gave money to the ‘Leave’ campaign in the run-up to the referendum on the UK’s membership of the EU are now being subjected to unfair tax treatment on their donations to a political cause

Tax / Edward Troup sets out vision for future of tax advisers at CIOT roundtable

After a four decade long career working in tax, outgoing HMRC chairman Edward Troup, joined a CIOT roundtable in December to set out his thoughts for the future of the tax authority and the inter-relationship of tax advisers with HMRC and clients over the next few years, highlighting the increasing need to monitor  the quality of advisers and acknowledging the impact of Making Tax Digital

Tax / Universal high speed broadband to be legal right

The government is to legislate to make high speed broadband a legal right, introducing a regulatory universal service obligation (USO), giving everyone in the UK access to speeds of at least 10 Mbps by 2020, in a move which will ease the introduction of HMRC’s Making Tax Digital online updating initiative

Tax / Landmark US tax reform bill approved by Senate

The US is on the brink of introducing the biggest set of tax reforms for a generation, after President Trump’s flagship bill to slash corporation tax for business and introduce tax cuts for individuals was passed by the Senate, although it needs some final amendments and a second vote in the House before becoming law by the end of this year

Tax / Scotland to introduce two new tax bands

Income tax is to increase for Scottish taxpayers in the middle income bracket after finance secretary Derek Mackay announced radical reform in his Budget

Tax / Hallam: government anti-VAT fraud proposals have teeth

As the government seeks to curb online VAT fraud after additional measures were announced in the Budget, Nicholas Hallam considers what impact the policy might have

Tax / Maas: Chancellor made little impact in Budget

Philip Hammond's policy announcements in the Budget 2017 will ultimately have little impact, says CBW tax partner Robert Maas

Tax / Treasury commits to publishing draft Finance Bill 2018 by July

The Treasury has confirmed the new fiscal calendar, highlighting that the Budget will be the primary fiscal event, supported by a Spring Statement on 13 March and release of draft legislation in July

Tax / EU blacklists 17 countries as tax havens

The EU has issued a list of 17 countries who fail to comply with EU tax rules and have no tax transparency

Tax / X Factor single VAT for charity

As is becoming a Christmas tradition, the Chancellor has announced that VAT collected on sales for the X Factor winner’s charity song will be donated to children’s charities

Tax / Plastic carrier bag charge picks up £95m

The 5p carrier bag charge on large retailers in England, introduced in 2015, has so far raised £95m for good causes, according to information supplied by the Treasury in response to a freedom of information request

Tax / Trump tax reforms introduce 20% corporate tax rate

Amid sometimes chaotic scenes, the US Senate has passed a major tax reform bill which will slash the US corporate tax rate to 20%, in what is being heralded as President Donald Trump’s first big legislative victory in his push to create a ‘once in a generation’ change to the US tax code
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