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3 weeks ago | 
accountingweb.co.uk | Jason Croke
https://www.bbc.co.uk/news/articles/cvgnz3r2m7eoHMRC hit with £47m fraud as scammers obtain gateway or security details from taxpayers, allowing the scammers to submit rebates to HMRC, which HMRC paid out.....and which HMRC 'forgot' to tell the Public Accounts Committee to whom HMRC are meant report this sort of frivolous thing. When HMRC are covering up such big errors, you just know its time for HMRC to be root and branch reformed.
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2 months ago | 
accountingweb.co.uk | Jason Croke
All of a sudden, customs duties and tariffs are global headlines. Who knew such a boring topic would play such an important part in domestic and international commerce? There is a lot of talk from the US president that VAT is a tariff, and if the logic is “a tax is a tax” then Trump would be right. But not all taxes are taxes, and VAT is not a tariff because while they are both “a tax” their purposes have very different objectives.
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Dec 5, 2024 | 
accountingweb.co.uk | Jason Croke
On 19 February 2024, HMRC removed the changes issued in respect of the tax treatment on double-cab pickups (DCPUs), which was initially updated on 12 February 2024 following a 2020 Court of Appeal judgment. Then, following the Autumn Budget in October 2024, the government has stated that DCPUs will no longer be treated as commercial vehicles from 6th April 2025.
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Oct 30, 2024 | 
accountingweb.co.uk | Jason Croke
Chancellor Rachel Reeves used her Budget Speech to cut duty on draught beers by 1p and against pre-Budget predictions, she froze fuel duty for an extra year. Here are the main headlines from the Budget. For draught beers (so this is focused on the retail/pub environment), a reduction of 1p in duty with effect from 1 February 2025 and the current temporary wine easement will also end as planned on 1 February 2025.
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Oct 30, 2024 | 
accountingweb.co.uk | Jason Croke
In a somewhat unexpected move, the government will increase the stamp duty land surcharge (SDLT) for second homes by 2%The rise takes the rate from 3% to 5% with effect from tomorrow (31 October 2024). That deadline leaves barely any room for manoeuvre and the Treasury notes, so far, do not indicate any wriggle room for people who may be completing tomorrow.
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Jul 1, 2024 | 
accountingweb.co.uk | Jason Croke
Stewart Bowman was a resident of New Zealand, working and paying taxes there. In September 2012 he moved with his wife and their son to the UK because the son had secured a three-year scholarship at a performing arts college. They rented out their family home back in New Zealand and rented a house to live in in the UK. They brought some of their personal possessions with them, with their remaining items stored in the garage at their original home.
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Jun 18, 2024 | 
accountingweb.co.uk | Jason Croke
HMRC has revised the existing guidance around voluntary carbon credits, bringing them into the scope of VAT. A carbon credit is a tradable instrument issued by an independently verified carbon-crediting programme. It represents a reduction or removal of one metric tonne of carbon dioxide, or an equivalent amount of greenhouse gases from the atmosphere measured by reference to a baseline scenario. Voluntary carbon credits are any carbon credits that are not compliance market credits.
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Jun 14, 2024 | 
accountingweb.co.uk | Jason Croke
Following the Spring Budget this year, the (current) government had proposed a vaping duty or tax, similar to the taxes seen with cigarettes and tobacco. The duty rates were not going to be as high for vape liquid as it is for tobacco-based products and was going to come into effect from 1 October 2026. This vaping duty is not connected with the other proposed bill that was to ban the sale outright to anyone born after 1 January 2009.
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Jun 4, 2024 | 
accountingweb.co.uk | Jason Croke
One of Labour’s flagship policies if it wins power on the 4 July General Election is to impose the standard rate of 20% VAT on private schools. The policy has created a lot of debate across the broadsheets, television, radio and social media channels, and not least from independent schools who have raised concern about the timeline of the proposals. However, the debate around ending the long-standing VAT exemption requires a little more nuance.
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Apr 23, 2024 | 
accountingweb.co.uk | Jason Croke
At Spring Budget 2024, the government committed to launching a number of consultations on the impacts of recent high court ruling relating to the private-hire vehicle sector, umbrella companies and charitable donations. Here we consider the consultation and proposals concerning charity gifting and the donation of goods and stock.
