Feb 03, 2023 The pursuit of tax: HMRC face increased pressure to boost tax revenue By Klara Kronbergs A recent report, published by the House of Commons Public Accounts Committee on 11 January, urges HMRC to increase the resources given to...
Nov 11, 2022 HMRC statistics: fewer taxable trusts, gradual fall continues By Sean McIntyre Recent statistics published by HMRC demonstrate a fall in the number of trusts paying UK tax. The number of trusts and estates that filed...
Aug 30, 2022 Uncertain tax treatment – employment status and the HMRC CEST tool By Philip Swinburn The employment status of a worker determines how they are taxed. This has been an area of increased scrutiny for the government in recent...
Aug 09, 2022 Trust Registration Service update: new HMRC guidance on penalties for late registration By Tristan Honeyborne With less than a month to go until the 1 September deadline to register trusts that fall within the expanded scope of the Trust...
Aug 08, 2022 HMRC statistics show drop in number of non-domiciled taxpayers By Thomas Schlee HMRC have recently published a statistical commentary on the UK tax contributions of individuals claiming non-domiciled status in their...
Jun 30, 2022 Private residence relief – an encouraging decision for self-builders By Thomas Schlee One of the most widely known features of the UK’s capital gains tax regime is private residence relief, which exempts all capital gains...
Jun 22, 2022 Updated Qualifying Asset Holding Company guidance on the activity condition By Rhiannon Kinghall Were HMRC recently updated its guidance on the distinction between trade versus investment in relation to the Qualifying Asset Holding Company...
Jun 15, 2022 New strict liability offence for financial sanctions comes into force today, amongst others By Neill Blundell Francis Bond Jessica Arapu Following the Economic Crime (Transparency and Enforcement) Act 2022’s expedited passage through Parliament in March 2022, the Office of...
May 04, 2022 HMRC transfer pricing tax haul jumps almost 50% in 2020/21 By Nick Foster-Taylor Statistics released by HMRC show that transfer pricing revenues have increased from £1.45bn in the 12 months to 31 March 2020 to £2.16bn...
Apr 19, 2022 £2.7 million fine for breach of UK arms controls: but why the lack of transparency? By Helen Harvey Neill Blundell Georgia O'Connor It has just been announced that in February of this year, HM Revenue & Customs (HMRC) fined an unidentified UK company circa £2.7 million...
Apr 06, 2022 UK to amend tax rules in aim to become a “global cryptoassets hub” By Rebecca Rose Gregory Price In a speech at Innovate Finance Global Summit on Monday 4 April, John Glen, Economic Secretary to the Treasury, set out the UK...
Mar 25, 2022 Spring Statement 2022: key announcements for tax compliance By Jackelyn West Sophie Rhind It comes as no surprise that the Spring Statement 2022 is focused on the cost of living crisis exacerbated by the war in Ukraine. As well...
Mar 01, 2022 HMRC updates its guidance on the VAT treatment of contract termination payments By Jack Slater Chris Mortimer After a long wait, HMRC has finalised its guidance on the VAT treatment of contract termination payments in R&C Brief 2 (2022). The...
Feb 14, 2022 The big freeze on crypto-assets: HMRC seizes its first ever NFT By Neill Blundell James Reid HM Revenue & Customs (HMRC) has announced its first ever seizure of Non-Fungible Tokens (NFTs) as part of a £1.4m VAT fraud...
Feb 09, 2022 An “educational approach”? HMRC nudge letters to crypto investors By Anna Seccombe Towards the end of last year, it was reported that HMRC had begun sending “nudge letters” to cryptocurrency investors. Nudge letter...
Jan 21, 2022 The final word on Partial Closure Notices? By Paul Hardwick Last week the Court of Appeal handed down judgment in the Embiricos litigation. (For commentary on the previous Embiricos decisions and...