Technical

Technical
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.

Technical
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.

Technical
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.

Technical
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.

Technical
1 January 2020

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

Technical
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.

Technical
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.

Technical
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.

Technical
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.