People have until 9 August to tell HMRC about any unpaid tax on property sales, and until 6 September to pay the tax owed under the department’s property sales campaign, under a tax ‘amnesty’ HMRC introduced earlier this year.
HMRC has launched a consultation about sharing and publishing the data it collects.
Income shifting by top rate taxpayers appears to have had a significant impact on the public finances, with the rate cut from 50% to 45% increasing income tax receipts, says David Smith
What’s ahead this month, with views from experts on forthcoming developments: David Harkness considers the FATCA delay; Robert Fidgen examines beneficial ownership issues; Dan Pipe takes a look at the three consultations relevant to employment tax; David Whiscombe notes that the consultation on NIC for self-employed entertainers closes this month; and Daniel Lyons summarises the key points around the VAT treatment of manufacturer-funded refunds
The following have been published:
Findings from the House of Lords Select Committee on Economic Affairs in its report, Tackling tax avoidance in a global economy: is a new approach needed?
Application for judicial review of ruling that supplies exempt from VAT
Tax authority exercising power of ‘attachment’ over house
SDLT: avoidance scheme
David Gauke, exchequer secretary to the Treasury, announced that ‘HMRC has topped £1bn this year in court wins against corporate tax avoidance, following a judgment worth almost £88m, involving a company called Vocalspruce and a scheme promoted by PwC’.