Monthly Archives: March 2015

Tax and Election Promises

With the formal start of the election campaign each of the main parties are busy spinning tax by stepping-up promises for themselves and undermining their opponents. The Tory promise not to increase VAT wrong-footed Labour, who were pushed into a … Continue reading

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HMRC and Updates to VAT Manuals

HMRC regularly update their online manuals. In March 2015 to date there have been updates to VAT and: Education (to reflect recent Tribunal decisions), Assessment and error Correction (internal address) and Government and Public Bodies (on contracted out services recovery … Continue reading

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Aggregates Levy Exemptions Reintroduced after European Commission Ruling

The exemptions, exclusions and tax reliefs from aggregate levy tax suspended in April 2014 are to be reintroduced after a ruling by the European Commission that they are mostly not illegal state aid. Aggregates levy is a tax on new … Continue reading

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HMRC Publish VAT Moss Guides

VAT Mini One Stop Shop (MOSS) forms and guides have been published by HMRC, both for EU and for non-EU / rest of the world, and are available on the section of the UK government .gov.uk website. Eamon McNicholas Tax … Continue reading

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Updated VAT Notice 700/11 “Cancelling VAT Your Registration”

HMRC have published an updated, March 2105, version of their Notice 700/11 “Cancelling Your VAT Registration”. The main change in about how to cancel a registration online. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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Budget – Bank Mis-Selling Tax Loophole Closed

A tax loophole used by the banks to make, even more, profit, from mis-selling is to be closed it was announced in the Budget. Currently banks can claim tax relief against the full provisions they set aside for mis-selling. All … Continue reading

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A Budget ‘Google Tax’ ?

The usual pre-budget speculation includes a suggestion that the Chancellor will introduce a special ‘Google tax’ on internet and technology companies, normally US, that somehow arrange to hardly ever make a UK taxable profit on vast UK sales. It has … Continue reading

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HMRC Videos and Webinar on Construction Industry Scheme (CIS)

HMRC have a series of videos on the Construction Industry Scheme (CIS) special tax scheme for using sub-contractors in the building industry, in addition to notices, plus a live one hour webinar on 13th April. Eamon McNicholas Tax Barrister, Accountant … Continue reading

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HMRC Want to Keep IR35

A paper from HMRC last week claimed the compliance costs of IR35 at an estimated £16m as against revenue protected it is said of £550m. It follows a Parliamentary House of Lords committee report on personal service companies (PSC) last … Continue reading

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Pros and Cons of Scottish Fiscal Independence

The SNP says if it could it would cut all fiscal ties to the rest of the UK. The devo-max plan would help with fiscal and economic autonomy for Scotland to stand alone. This might also include ending the Barnett … Continue reading

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