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Posts tagged ‘News’

Scottish budget overshadowed by finance secretary’s resignation

The Scottish government will seek to freeze the higher and top rate thresholds for the Scottish rates of income tax, it announced in a draft budget overshadowed by the resignation of Finance Secretary Derek Mackay.

My news story for Tax Notes (paywall), February 7:

Scottish Budget Overshadowed by Finance Secretary’s Resignation

Peers examine IR35 reforms amid growing opposition

A House of Lords committee will examine the proposed extension of the controversial IR35 rules, while a campaign group claims that many U.K. firms have said they are “shedding all self-employed contractors”.

My news story for Tax Notes (paywall), February 6:

U.K. Peers Examine IR35 Reforms Amid Growing Opposition

UK tax bodies seek urgent feedback on HMRC powers

Leading UK tax bodies have issued an urgent call for evidence on the tax authority’s exercise of its powers, to inform an evaluation of the implementation of powers introduced since 2012 …

HM Revenue & Customs has established a Professional Standards Committee, chaired by Tax Assurance Commissioner Melissa Tatton, to take advice from independent experts and advise the HMRC commissioners on the exercise of statutory powers. Tax professionals welcomed this and other steps intended to strengthen public trust in HMRC’s operations, which Financial Secretary to the Treasury Jesse Norman announced in July 2019 …

My news story for Tax Notes (paywall), February 5:

U.K. Tax Bodies Seek Urgent Feedback on HMRC Powers

UK adviser to review tax claims and elections

A prevalence of high-volume tax repayment agents may suggest that UK tax reliefs and exemptions are more complicated to deal with than people are “able or willing to handle,” the Office of Tax Simplification said.

The independent adviser to the government on tax simplification will issue a call for evidence shortly with a view to establishing how claims and elections, and the processes involved in them, can be simplified. It is sometimes unclear why a specific claim is necessary, and the requirement can lead to some taxpayers who are entitled to benefit missing out, the OTS said …

My news story for Tax Notes (paywall), February 5:

U.K. Adviser to Review Tax Claims and Elections

Almost 1m UK taxpayers miss tax return deadline

A record-breaking 10.4 million U.K. taxpayers filed their 2018-2019 return online by the January 31 deadline, but almost 1 million face late-filing penalties, HM Revenue & Customs said …

HMRC estimates that late-filing penalties of almost £64 million have been paid so far for returns for 2017-2018, and more than £106 million has been paid for returns for 2016-2017, according to a House of Commons written answer …

The Low Incomes Tax Reform Group reminded taxpayers who have a reasonable excuse for late filing that they can challenge a penalty notice.

My news story for Tax Notes (paywall), February 4:

Almost 1 Million U.K. Taxpayers Miss Tax Return Deadline