Tax News
Mazars tax news covers everything tax related in the UK from, VAT to the latest HMRC rulings.
Find monthly updates on taxation in the UK, or search through the archive of our news. For the most up to date tax news and opinions on taxation in the UK, follow our Let's Talk Tax blog:
Let's Talk Tax
Autumn Statement 2015 - Chancellor banks on growth to avoid tax credit cuts
For anyone focussing on tax changes, the majority of the 2015 Autumn Statement amounted to a long preamble in the form of the now customary summary of statistics on growth, both past and expected. Significantly, the Chancellor was able to avoid making any cuts to tax credits, which will be welcomed by many. However, what was less clear is how this and other measures mentioned will be paid for.
Entrepreneurs’ Relief at risk in the Autumn Statement?
There is widespread speculation about the possibility of the Chancellor making further changes (restrictions) to entrepreneurs’ relief (ER) when he makes his Autumn Statement next Wednesday, 25 November.
Users of Tax Avoidance Schemes Face Massive Tax Demands
Legislation enables HM Revenue & Customs (HMRC) to demand upfront payment of disputed tax relating to tax avoidance schemes before enquiries and disputes are settled. These powers will severely impact on thousands of taxpayers.
Praxity North American International Tax Conference: 9-10 November 2015
The Mazars European/US Tax Desk attended the 6th Praxity North American International Tax Conference on 10 November in Austin, Texas. We summarise the event, attended by over 200 Praxity members and clients.
Round the houses: intention crucial to CGT residence relief
The case of taxpayer who, due to force of circumstances, found himself moving from one home to another highlights the relevance of intention when considering whether the CGT private residence relief applies.
Remittance basis: grandfathering mitigates HMRC’s loan collateral changes
HMRC have announced that the ending of “concessional” treatment of unremitted funds used as loan collateral will now only apply to loans brought into or used in the UK on or after 4 August 2014.
Deemed domicile consultation appears, disappears and reappears
The Treasury consultation document, Reforms to the taxation of non-domiciles came and went briefly on 22 September and has now reappeared. Apart from changes of dates, including the deadline for responses, nothing has changed, not even the typos
One Summer Budget – Initial Thoughts
If one can conclude anything from today’s first budget of this Parliament, it is that this was most definitely a Conservative Budget.