News Archive

Scottish Parliament Agrees New Income Tax Settings

Scottish lawmakers have approved plans for the structure of the nation's new individual income tax regime, following the tax devolution agreement with the UK.

UK Chamber Calls For Property Tax Reform

The UK Government should reform the business rates (commercial property tax) system in the upcoming Budget to support long-term business investment, the British Chambers of Commerce (BCC) has said.

UK To Waive Tax On Deceased Taxpayers' ISA Investments

HM Revenue and Customs is proposing to extend to the Individual Saving Account tax advantages to investments held within an account after the death of the account holder.

LITRG Calls For UK Tax Relief For Foreign Pensions

The Low Incomes Tax Reform Group (LITRG) has called for the UK Government to rethink a proposal that would see UK residents paying more tax if their pension is from an overseas provider.

Dijsselbloem Warns UK Against 'Going Rogue' On Tax

Eurogroup President Jeroen Dijsselbloem has warned the UK against attempting to establish itself as an "offshore tax haven" post-Brexit.

UK Tax Authority Makes U-Turn On Transformation Plan

HM Revenue and Customs (HMRC) has agreed its estimates of the money it would save by closing more than 100 offices are "unrealistic," according to a report from the National Audit Office.

UK Commits To Improving Tax Industry, Taxpayer Engagement

Financial Secretary to the Treasury Jane Ellison has said she aims to increase transparency surrounding HM Revenue and Customs's performance, saying its customer service "hasn't always been good enough."

Transfer Pricing Behind Jump In UK Tax In Dispute

The amount of tax potentially underpaid by big businesses by shifting profits to other jurisdictions has increased by 60 percent in the last year, to GBP3.8bn (USD4.8bn), according to figures obtained by international law firm Pinsent Masons.

Grant Thornton Hails UK Tribunal's Ruling In VAT Group Case

The UK's First-tier Tax Tribunal has ruled against HM Revenue and Customs's current policy on the recovery of value-added tax (VAT) incurred on professional fees during a management buyout.

UK Proposal To Merge Income Tax, Social Security Welcomed

The Chartered Institute of Taxation (CIOT) has welcomed support from the UK's Office of Tax Simplification (OTS) for its recommendation that National Insurance contributions (NICs) and income tax should be more closely aligned.

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