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Oct 9, 2024 | 
journal.step.org | Tom Wallace
Tom Wallace TEP outlines new legislation in the UK aimed at fighting economic crime CPD Companies Legislation Regulation and compliance United Kingdom The UK was the first G20 country to make a beneficial ownership register for corporates publicly available.
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Jul 17, 2024 | 
taxjournal.com | Chris Etherington |Tom Wallace |Steven Porter |Thomas Chacko
According to HMRC data, at least 21 UK professional football clubs have VAT or corporation tax debts, reports accountancy and business advisory firm Lubbock Fine. Some clubs are still dealing with debt, exacerbated by the Covid lockdown, while salary and operating costs have risen substantially over the same period. The firm reports HMRC’s increasing concerns that clubs might prioritise other expenses over meeting their tax obligations.
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Jul 17, 2024 | 
taxjournal.com | Chris Etherington |Tom Wallace |Steven Porter |Thomas Chacko
HMRC have launched a new tool aimed at businesses which are considering registering for VAT. The tool will estimate the impact of registration on the business, including amounts of VAT that might need to be paid or reclaimed. In order to use the tool, businesses will need access to sales and costs figures and will also need to understand how VAT applies to different goods and services, and what proportion of their income and costs are exempt or outside the scope of VAT.
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Jul 17, 2024 | 
taxjournal.com | Chris Etherington |Tom Wallace |Steven Porter |Thomas Chacko
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Jul 17, 2024 | 
taxjournal.com | Peter Vaines |David Whiscombe |Chris Etherington |Tom Wallace
Home >Articles > HMRC bring together Pillar Two guidance
HMRC bring together Pillar Two guidance
17 July 2024
HMRC have brought together its collection of guidance on the multinational top-up tax and domestic top-up tax, which can now be accessed from a single landing page.
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Jul 17, 2024 | -ltd-v-hmrc&sz=64)
taxjournal.com | Peter Vaines |David Whiscombe |Chris Etherington |Tom Wallace
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Jul 17, 2024 | 
taxjournal.com | Peter Vaines |David Whiscombe |Chris Etherington |Tom Wallace
A common question for families who have children at private school (or who are considering this option) is whether it is possible to share the costs of school fees tax-efficiently across the generations. The answer to this is yes, particularly for grandparents, who have a number of inheritance tax options available to them, if they would like to assist with fee payment.
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Jul 17, 2024 | 
taxjournal.com | Peter Vaines |David Whiscombe |Chris Etherington |Tom Wallace
HMRC’s latest Employer Bulletin reminds PAYE taxpayers to claim any refunds online and employers to review their PSA calculations and off-payroll working procedures, and highlights changes to the requirement for PAYE taxpayers to complete tax returns:The Bulletin covers the following topics:Tax calculation repayments for PAYE taxpayers: HMRC are changing the way they repay the majority of PAYE taxpayers who are eligible to claim their repayment online.
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Jul 17, 2024 | 
taxjournal.com | Peter Vaines |Chris Etherington |Tom Wallace |Steven Porter
The recent decision in MWL International Ltd and another v HMRC [2024] UKFTT402 (TC) was all about whether various cars were pool cars. This is an important issue because a pool car does not give rise to a benefit in kind on the users, or NIC.
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Jul 17, 2024 | 
taxjournal.com | Chris Etherington |Tom Wallace |Steven Porter |Thomas Chacko
In Finanzamt T II v S (Case C184/23) (11 July) the CJEU held that supplies between members of an EU VAT group were outside the scope of VAT irrespective of whether the effect of VAT grouping was a ‘loss of tax’. The taxpayer (S) was the controlling company of a university medical department and another company (U). They were all included in a German VAT group.
