Changes to simplify the dividend tax process for HMRC could cost small businesses in the long run

Steve Collings HMRC Leave a Comment

Small business owners making the most of the tax-free dividend allowance in the UK have already seen an impact on their savings and the cash available to them, due to a significant reduction that saw the allowance shift from £5,000 to £2,000 in April 2018. And now, family owned companies, small business owners and individuals could be faced with a …

HMRC Enquiries: meeting up?

Mark McLaughlin HMRC Leave a Comment

A tax return enquiry by HMRC is a possibility for virtually any person who files a return. A common feature of tax return enquiries (especially for business owners) is that HMRC often request a meeting with the taxpayer, particularly at an early point in the enquiry. The prospect of a meeting with HMRC is generally not relished by taxpayers (or …

IR35 Consultation

Rebecca Cave HMRC 1 Comment

The Government have recently issued a consultation document, seeking views on how best to deal with non-compliance with the IR35 rules in the private sector.  Rebecca Cave, contributor to several Bloomsbury Professional titles, looks at what this consultation might mean. Consultation on changing the IR35 rules The operation of the IR35 changed for public sector contracts with effect from 6 …

HMRC expects!

Mark McLaughlin HMRC Leave a Comment

Most practitioners will be aware that HMRC’s conduct and service standards are set out in a charter (‘Your Charter’), which is displayed on the GOV.UK website (www.gov.uk/government/publications/your-charter/your-charter). There is a statutory requirement for Your Charter to ‘…include standards of behaviour and values to which [HMRC] will aspire when dealing with people in the exercise of their functions’ (CRCA 2005, s …

Residence, Domicile Brexit and UK Taxation by Jonathan Schwarz

Laura Accountancy, Bloomsbury Professional News, Capital Gains Tax, General Taxation, HMRC, International Taxation, Property Tax, Specialist Taxation, Tax and Financial Planning, Taxes Management, VAT and Customs Duties Leave a Comment

Jonathan Schwarz, Barrister, Temple Tax Chambers. Visiting Professor King’s College London. The slender majority referendum vote in favour of the UK leaving the EU has raised questions of tax residence and domicile in a dramatic way. If the UK proceeds to give notice under TFEU Article 50, British citizens resident in other EU Member States and other EU nationals resident …