Monthly Archives: June 2014

Scottish Snowballs are VAT-free Cakes Not Sweets

The Scottish Tax Tribunal has ruled that the popular coconut-covered “snowball” snacks are VAT-free cakes, not standard-rated sweets. With food zero-rated but confectionery at 20% the VAT can make a big difference. Looking at all the facts The Tribunal decided … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , | Leave a comment

Income Tax and National Insurance Merger Spin (Again)

More media rumours of the government spinning plans to merge income tax and national insurance. Having two different taxes, with different rules, on what to most people looks like the same money is odd. The reason though is the government … Continue reading

Posted in Tax and Accounting News | Tagged , , , , | Leave a comment

Government Consultation on State Marriage Ceremonies Outdoors

A non-tax item but as a lawyer my eye was caught by a government consultation on allowing non-religious groups to conduct their own form of state recognised marriage ceremony outdoors. The problem is English law on selected state recognised religious marriage is based … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , , | Leave a comment

Pointers on the VAT Option to Tax Land

HMRC have published research on the impact of the VAT option to tax (more formally the election to waive exemption). among the key summary conclusions were :  Where businesses used the option to tax for properties leased to tenants most … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , | Leave a comment

No Sugar Tax…Yet

The Health Minister has ruled out a special sugar tax. The idea has been put about by the local government association, supposedly a sugar tax would help cut consumption of sugary foods to combat obesity and other health problems. A … Continue reading

Posted in Tax and Accounting News | Tagged , , , , | Leave a comment

Is the UK Becoming a Suspect Corporate Tax Haven ?

More non-UK companies are incorporating in the UK just for tax purposes. But has Britain gone too far, is it risking getting a reputation as a suspect overseas tax haven? Many US and non-EU corporations are trying to avoid high … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , | Leave a comment

Climate Change Levy Notices Updated

HMRC have issued updated notices on Climate Change Levy, the tax on energy. The new notices, which replace the respective previous versions, are: CCL1 (general guide to climate change levy), CCL 1/1 (registering for CCL), CCL 1/2 (combined heat and … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , , , , , | Leave a comment

F1 Team Cannot Deduct Fine Against Tax

The British F1 racing team McLaren have lost their battle to deduct a sporting fine against corporation tax. McLaren were fined £32m by the FIA, motor sport governing body, for wrongly having technical data about another team. The Upper Tax … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , | Leave a comment

Tax Avoidance Schemes: Reality vs. Wishing

News that the firm behind a defeated tax scheme used by pop stars is threatening to sue the national firm of accountants who acted for the firm at the Tax Tribunal. Quite what a possible claim would be for I … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , | Leave a comment

China and Change to Rare Earths Taxation

Tax is often used as a leverage in power politics, always has, always will. Internationally I see China is considering a change to the way it taxes rare earths exports. This matters globally as rare earths are a group of … Continue reading

Posted in Tax and Accounting News | Tagged , , , , , , , , , , , | Leave a comment