VAT advice for online sellers
HMRC has updated its VAT guidance to sellers which sets out the sellers’ VAT obligations if they use an online marketplace to sell goods in the UK.
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HMRC win against loan scheme
HMRC has won a tax avoidance case potentially worth £55 million after businesses issued loan notes as bonuses to avoid tax.
Online marketplace VAT checks
HMRC is requiring online marketplace operators, such as Amazon, ebay and Gumtree to carry out checks to ensure sellers are paying the correct amount of VAT.
Declaration of offshore assets and income
HMRC has provided a guide that provides an overview of its view of tax arrangements for offshore assets and income. Here we take a look at their advice and provide our take on their top ten tips.
VAT on safety products and services
Residential safety products and services are currently taxed at 20% but there is a view that they shouldn’t be given they are essential requirements that can save lives. A petition has been lodged on the UK Parliament’s website to try and make them VAT zero-rated.
HMRC defines ‘reasonable care’
HMRC has published a new guide which provides guidance on how to make sure you take reasonable care if you need to send tax returns and other documents to HMRC, and what happens if you don’t.
HMRC consultation on extension of offshore time limits
HMRC is inviting views on how they should legislate to extend the time limits to assess tax in cases involving offshore income, gains or chargeable transfers.
VAT concession on affiliation fees for sports clubs to end
From 1 April 2018 the concession enabling clubs to treat affiliation fees as exempt from VAT will be withdrawn by HMRC.
HMRC fights itunes scam
HMRC has written to the Chief Executives of Asda, Morrisons, Sainsbury’s, and Tesco to enlist their help in fighting a high-profile iTunes phone scam which is conning vulnerable and elderly people out of thousands of pounds.
HMRC spotlight on contractor schemes
HMRC is actively pursuing users and promoters of contractor schemes in an effort to prevent tax avoidance and evasion. They are also using Accelerated Payment Notices (APNs) and Follower Notices to encourage people to reach settlement with HMRC.