19/12/2009, by Steve Allen, Tax article - VAT & Excise Duties
Steve Allen of VAT Advisers Ltd explains how to reclaim VAT following de-registration in certain circumstances. IntroductionThere can be many reasons why a business de-registers e.g., sale of the business, retirement, insolvency, making a company dormant, ceasing to make taxable supplies, or falling below the VAT de-registration limit. Once you have de-registered for VAT, most people think that you can no longer reclaim any VAT. However, there are circumstances in which you can still get some VAT ... Continue Reading
14/12/2009, by Peter Arrowsmith FCA, Tax article - PAYE and Payroll Taxes, National Insurance, NICs
Peter Arrowsmith FCA outlines a selection of NIC matters, and offers a timely tip regarding claims for the Winter Fuel Payment.Paying voluntary Class 2 Whilst Working AbroadThere has been concern for some time about the attitude of HM Revenue and Customs to some cases where persons are working abroad and wish to pay voluntary contributions. Class 2, although normally only for the self-employed, can be paid by some employees in that circumstance - and this is to be preferred to Class 3 as Class 2 ... Continue Reading
13/12/2009, by HM Revenue & Customs, Tax article - General
Jane Frost, head of HM Revenue & Customs’ Individuals Customer Directorate, explains how HMRC’s new Charter aims to improve relations between the department and its customers.What can You Expect from your Dealings with HM Revenue & Customs? And What do We Expect from You?Well, we want to give you a service that is even-handed, accurate and based on mutual trust and respect. We also want to make it as easy as we can for you to get things right.To this end, our new Charter sets out to clarify our ... Continue Reading
13/12/2009, by Steve Allen, Tax article - VAT & Excise Duties
Steve Allen, Director of VAT Advisers Ltd, provides a timely reminder about some forthcoming important VAT changesIntroductionWith the end of 2009 fast approaching, we thought it would be useful to remind everyone of the arrival of the EU VAT Package on 1 January 2010, and give a short summary of its content and implications. The VAT Package will introduce fundamental changes to the VAT system across the EU through the introduction of:changes to the 'place of supply' rules for servicesa requirement ... Continue Reading
11/12/2009, by Sarah Laing, Tax news - HMRC Administration, Practice and Methods
In his last Pre-Budget Report before the general election, Alistair Darling tried to balance two competing requirements:the need to demonstrate his financial prudence to the investment markets; andthe continuation of the fiscal stimulus that he believes is necessary for UK economic growth.If there is a change of Government after the election, some of the announcements in the PBR may be revised or dropped. However, given the Conservative Party’s forceful views on the urgency of reducing the Government ... Continue Reading
10/12/2009, by Low Incomes Tax Reform Group, Tax article - General
LITRG expresses concern that the Government's proposals for better and smarter public services at a lower cost will be detrimental to the most vulnerable consumers of those services. Introduction Yesterday the Government set about reducing the debt burden by announcing proposals for better and smarter public services. This has to be welcomed; but, LITRG wonders, at what cost to the most vulnerable consumers of public services?Government proposalsOn 7 December, the Government published its proposals ... Continue Reading
08/12/2009, by Sarah Laing, Tax news - VAT & Excise Duties
In response to receiving queries from agents using the online service for VAT, HMRC have published the following announcement."When those agents use this service to file a VAT Return online, they will see that they are registered for HMRC's new online EU VAT Refund Service. HMRC has provided the option of using this new service to all agents who are already registered for VAT Online. Agents will find this new service useful if they wish to make claims on behalf of clients who have incurred VAT in ... Continue Reading
08/12/2009, by Sarah Laing, Tax news - Income Tax
The Chancellor will deliver his Pre Budget Report (PBR) to Parliament on Wednesday 9 December at 12.30pm.TaxationWeb will of course, post coverage of the changes announced soon after the Chancellor delivers his speech. At this stage, we predict that the Government will introduce a further raft of anti-avoidance measures to block preceived loopholes in the tax system - this has become a regular occurrence in recent years and we are sure that there will be plenty of new material to get to grips ... Continue Reading
08/12/2009, by Martino Matijevic, Tax news - HMRC Administration, Practice and Methods
With senior accounting officers (SAOs) in mind, on Thursday 10th December at 12:15 GMT, Stephen Herring and Tony Spillet, Tax Partners from BDO, will explain exactly how the Chancellor’s Pre-Budget Report will affect your company and offer expert advice on how to handle the changes. Chancellor Alistair Darling's Pre-Budget Report is one of the most important Pre-Budget Reports in living memory. Unlike the rest of the G20, the UK is the only country still stuck in recession after its economy contracted ... Continue Reading
05/12/2009, by Mark McLaughlin CTA (Fellow) ATT TEP, Tax article - General
Mark McLaughlin highlights the attitude and approach of HMRC in respect of tax avoidance arrangements.IntroductionMost of us know and understand the phrase ‘All that glitters is not gold’. That seems to be HMRC’s message to taxpayers in relation to certain forms of tax avoidance arrangements. HMRC’s proactive (some might prefer the term ‘aggressive’) approach to what it regards as unacceptable tax planning will be unwelcome to many. However, at least HMRC are relatively open about the ... Continue Reading
