Technical

Addressing the tax challenges of the digitalisation of the economy

Technical
Sacha Dalton |
1 January 2020

The CIOT has responded to a consultation published by the Organisation for Economic Co-operation and Development (OECD) on addressing the tax challenges arising from the digitalisation of the economy, focusing on key points arising from the ‘Unified Approach’ suggested by the OECD’s Secretariat.

International TaxLarge Corporate

Applying the agent lens to digital services

Technical
Helen Thornley |
1 January 2020

A new group to bridge the gap between tax policy and implementation has been created and its first priority will be to look at the approach to agent authorisation for new digital services.

General Features

VAT: domestic reverse charge for construction and building services – what is happening during the deferral period?

Technical
Jayne Simpson |
1 January 2020

HMRC announced in Revenue and Customs Brief 10/ 19 that there would be a one year deferral of the introduction of the domestic reverse charge on construction services, which will now commence from 1 October 2020. In the meantime, HMRC are focusing on raising business awareness and enhancing the guidance . The CIOT, along with other professional bodies and industry, is represented on the stakeholder consultation group.

Indirect Tax

Entrepreneurs’ relief: personal company rules, dilution provisions and dilution on the day of sale

Technical
Margaret Curran |
1 January 2020

The CIOT wants to ascertain whether a change in HMRC’s view about dilutions of shareholdings on the day of sale (which may prevent entrepreneurs’ relief being available in certain circumstances) creates a problem; and if so, how big a problem it creates. Have you come across this in practice? We are asking members to contact us with their views.

OMB

Corporate non-resident landlords: compliance letter to tenants

Technical
Margaret Curran, Kate Willis |
1 January 2020

In a recent compliance initiative, HMRC have sent letters to tenants occupying residential property owned by non-resident corporate landlords.

Personal tax

Offshore investment funds: HMRC letter to taxpayers

Technical
Margaret Curran, Kate Willis |
1 January 2020

HMRC have recently sent out letters to taxpayers asking them to check that they have correctly declared money received from offshore investment funds.

Personal tax

Help-to-Save scheme: are your clients missing out?

Technical
Tom Henderson |
1 January 2020

The Help-to-Save scheme was launched in September 2018 and enables individuals who receive tax credits or universal credit, subject to certain conditions, to earn a tax-free bonus of up to 50% of amounts saved. The account, which is delivered by NS&I and HMRC, has been introduced by the government in order to help those on low incomes build up their short-term savings and to encourage them to form a regular savings habit.

General FeaturesPersonal tax

How advisers can appeal to lower income taxpayers

Technical
Meredith McCammond |
1 January 2020

There are lots of taxpayers who fall outside the remit of the tax charities who need, and are willing to pay for, good value professional tax advice and assistance.

General Features

Making Tax Digital for VAT updates

Technical
Emma Rawson, Jayne Simpson |
1 December 2019

A round up of recent developments in MTD for VAT, including the potential to extend the soft landing for digital links and problems for overseas businesses.

General FeaturesIndirect Tax

DAC 6: International Tax Enforcement: disclosable arrangements

Technical
Margaret Curran |
1 December 2019

The CIOT recently commented on a consultation document and draft regulations which require taxpayers and advisers to report certain cross-border tax arrangements to HMRC.

Management of taxes