Tax planning

Tax / OTS details scope of IHT review

The Office of Tax Simplification (OTS) has published more details about its review of inheritance tax (IHT) which will look at ways of simplifying IHT from both a tax technical and an administrative standpoint

Tax / BBC regional news presenter loses IR35 appeal

HMRC has won the first in a series of appeals concerning the application of employment intermediaries legislation to BBC television presenters, after a First Tier Tribunal (FTT) decided that IR35 applied to the arrangements under which the BBC contracted one of the presenters of a regional news programme, Look North

Tax / Parents urged to be cautious before applying for tax-free childcare

Anne Fairpo, chair of the Low Incomes Tax Reform Group (LITRG) is urging parents and carers to check their position before applying for tax-free childcare as they may find other benefits they currently receive are stopped or that other childcare schemes can offer more financial support

Tax / Call to use taxation to tackle climate change

Governments are not doing enough to align energy taxation regimes to address climate change and need to act urgently, according to the OECD which has published a high critical report of current approaches

Tax / Shah: labyrinthine personal tax system needs complete overhaul

Nimesh Shah, partner at Blick Rothenberg, calls for radical reform of the hugely complex personal tax system, not just inheritance tax, from spikes and cliff edges in marginal tax rates to capital gains tax

Tax / HMRC ups the ante with requirement to correct tax rule

HMRC is ramping up its counter avoidance activity with a mission to target wealthy taxpayers, tough requirement to correct rules and threats of more criminal action against taxpayers, warns Dawn Register, partner in BDO’s tax dispute resolution team

Tax / Welsh Revenue Authority opens online land transaction tax portal

The Welsh Revenue Authority (WRA) is opening land transaction tax (LTT) registrations from 20 February, in readiness for the first devolved taxes in Wales for around 800 years, which come into operation from 1 April 2018

Tax / Tax-free childcare scheme open to all parents of under-12s

HMRC has issued a reminder that from 14 February, all working parents with children under 12 can apply for up to £2,000 of childcare support per child, per year

Tax / Ray McCann named CIOT president for 2018-19

CIOT has announced its team of officers for the coming year, with Ray McCann becoming the institute’s new president, marking the first former HMRC appointment to the post, with Accountancy contributor Peter Rayney among those taking the helm from May

Tax / Bull: is HMRC’s Making Tax Digital pilot fit for purpose?

HMRC plans to start piloting Making Tax Digital from April needs to have the serious reach to really test out the limits of the new VAT reporting system to avoid a botched rollout in April 2019, says George Bull, senior tax partner at RSM

Tax / Tax overhaul for overseas investors in UK real estate

Mark Cawthron LLB CTA, specialist tax writer at Croner-i, examines the plans to tax non-resident investors in UK real estate with the extensions of non-resident capital gains tax liability to companies from April 2019

Tax / Ireland forecasts €54.2bn tax-take in 2018

Ireland is expecting to raise €54.2bn (£48bn) in taxes this year, 7% more than in the previous year, with the biggest increases expected to come from income tax and VAT, according to analysis published by the finance department

Tax / Inheritance tax: time to reform overly complex rules

Inheritance tax may be paid by less than 5% of estates but it is a hugely complex system and now the Chancellor, Philip Hammond, has asked the Office of Tax Simplification (OTS) to come up with simplification proposals. Paul Morton, tax director and Daphna Jowell, IHT review team leader at the Office of Tax Simplification (OTS) consider key problem areas requiring reform

Tax / ICAEW offers Valentine's tax advice

With Valentine’s Day just two days away, the ICAEW has crunched the numbers to bring some practicality to romance, by pointing out the tax benefits of saying ‘I do’ to a marriage or civil partnership proposal on Wednesday

Tax / Gift Aid tax incentive delivers just 27p extra for every £1 spent

Gift Aid’s aim of encouraging higher-rate taxpayers to make larger charitable donations delivers just 27p more for every additional £1 spent on the tax incentive, and charities would get substantially higher donations if the value of the relief were given directly to them, according to the National Audit Office (NAO) and University of Birmingham tax centre