Chancellor urged to reform tax policymaking

A trio of influential organisations has urged the Chancellor to implement a series of reforms to the tax policymaking process. The Chartered Institute of Taxation (CIOT), Institute for Fiscal Studies (IFS) and The Institute for Government (IfG) jointly called on the Chancellor to make five key changes to the process: Publicly state the guiding principles…

Rapid increase in number of HMRC raids

Research has found a 28 per cent increase in premises raids by HM Revenue & Customs (HMRC) over the last year and a 53 per cent increase over the last five years. Last year, HMRC carried out 761 property searches, compared with 593 the previous year and 499 five years ago. The increase comes against…

Revenue reviews card payments in cash-in-hand crackdown

HM Revenue & Customs (HMRC) has confirmed that, as part of a crackdown on cash-in-hand payments, it is monitoring the proportion of card payments processed by small businesses, including restaurants and retailers. According to the Revenue, on average, approximately 30 per cent of sales made by small businesses are paid in cash. However, it says…

Changes to non-dom rules in the pipeline

As part of a raft of recently launched consultations, the government has unveiled its latest plans for the changes to non-dom status announced by the previous Chancellor in his 2015 Budget. Under the plans, non-doms who are deemed to be long-term residents will be required to pay UK tax on their worldwide income. The changes…

Revenue gets tough on salary sacrifice schemes

The previous Chancellor announced at the Budget in March 2016 that the government would consider restricting the range of Benefits in Kind (BiKs) that are exempt from Income Tax and National Insurance. In August, HM Revenue & Customs (HMRC) launched its formal consultation on the changes – which proposes that almost all BiKs should be…

Revenue sets out first plans for Making Tax Digital

In August HM Revenue & Customs (HMRC) issued the first wave of consultation documents on its Making Tax Digital (MTD) initiative. This first wave of consultation documents set out the Revenue’s plans for the implementation of MTD for the smallest businesses and, as expected, a large number of small businesses will need to report on…