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NZ Accountants Call For Simpler Small Business Tax 5/18/2012 New Zealand’s tax system has become overly complex, the country’s Institute of Chartered Accountants has said, calling for simplification of the rules for small businesses and setting out proposals for reform.
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UK E-Seller Amnesty Deadline Looms 5/14/2012 HM Revenue and Customs has warned people trading on the internet and who may have tax irregularities that they now have just one month to take part in the e-sellers tax amnesty and avail of lower penalty rates.
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UK Government Blasted Over IR35 Proposals 5/14/2012 HMRC has missed a great opportunity to bring clarity, transparency and fairness in dealing with the intermediaries legislation commonly referred to as IR35, according to members of the freelance community who were invited on to the Treasury forum to discus the issue.
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HMRC Apologises For Self-Assessment Penalty Error 5/3/2012 The UK tax authority, HM Revenue and Customs, has apologised to taxpayers following the dispatch of incorrect
penalty notices to individuals supposed to have been removed from its Self Assessment
program.
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HMRC Warned Of RTI Impact On Small Firms 5/1/2012 The Low Incomes Tax Reform Group has said that the UK tax
authority, HM Revenue and Customs, has underestimated the impact of Real Time Information
on small employers.
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HMRC Launches Bereavement Service 4/11/2012 HM Revenue and Customs is to improve and streamline its customer service programme by launching a Bereavement Service for taxpayers.
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Italy Boasts New Weapon In War On Evasion 3/22/2012 The Italian Revenue Agency’s Director, Attilio
Befera, has announced that its new, revamped ‘redditometro’ –
the computer data system which compares taxpayers’ income declarations with
their spending habits – is now expected to be fully operational by June
this year.
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UK Court Winds Up 'Tax Umbrella' Services Firm 3/20/2012 Reed Umbrella Ltd, which serviced a discredited 'tax umbrella' scheme for the self-employed, has been wound up in the UK High Court in the public interest following an investigation by Company Investigations, part of The UK Insolvency Service.
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US Lawmakers Mull Small Business Tax Reforms 3/13/2012 The House of Representatives Committee on Ways and Means has held a hearing to
examine how the United States tax code affects closely-held businesses, and how and under which sets of rules
such firms should be taxed within any future tax reform.
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UK Panel Recommends Small Business Tax Reforms 3/8/2012 Practical changes to the UK's tax system will help ease the burdens imposed on small businesses, the Office of Tax Simplification has said.
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UK Launches More Tax Taskforces 2/27/2012 The UK's HM Revenue and Customs will launch thirty new taskforces as it sets its sights on generating GBP50m from tax evasion crack-downs this year alone.
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Belgium Tax Man Targets Internet Sales Sites 2/22/2012 The Belgian tax authorities have recently announced that they are now closely monitoring
Internet sales websites, including eBay, in a bid to clamp down on Internet
traders failing to meet their tax obligations.
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UK Late Filing Penalty Regime Kicks In 2/21/2012 850,000 UK taxpayers will feel the force of HM Revenue and Customs's new penalty regime in the coming weeks, as the first penalties are issued.
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UK Tax Amnesty Targets Electricians 2/15/2012 HM Revenue and Customs has unveiled its newest tax amnesty scheme, offering electricians the opportunity to pay the taxes they owe with lower penalties.
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UK Offers Online Seminars To Taxpayers 2/14/2012 The UK tax authority HM Revenue and Customs has launched a 'webinar' programme, offering online tax help to businesses and the self-employed.
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UK Outlines 2012 Tax Enforcement Plans 2/13/2012 The UK tax authority, HM Revenue and Customs has outlined that in the coming year
it will focus its tax enforcement efforts on taxpayers that fail to make tax returns
and those that are liable to pay tax at the highest personal income tax rates,
as well as launching targeted campaigns in two specific sectors.
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HMRC Revamps UK Business Record Checks 2/9/2012 The UK tax authority HM Revenue and Customs is to take a fresh approach to its business records checks programme in the coming financial year. The move comes following a review of the programme, and the revamped approach will be launched early in the 2012/13 financial year.
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E-Filing Record Set By UK's Self-Assessors 2/9/2012 HM Revenue and Customs saw a record 7.65m Self Assessment tax returns filed online this year, with a total 9.45m returns sent on time.
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French Start-Ups Hindered By Red Tape 2/8/2012 The general council responsible for industry, energy and technology in France has recently published a report on the development of start-up businesses,
reviewing support networks, the fiscal and social environment as well as the conditions
for accessing finance, and has put forward a series of recommendations.
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Philippines Tax Man To Target Professionals 2/3/2012 The Philippines Bureau of Internal Revenue has received an instruction from
Finance Secretary Cesar Purisima to formulate policies leading to
a substantial increase in the income tax compliance of the country’s professionals
and self-employed.
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Hong Kong To Launch Microfinance Pilot Scheme 2/3/2012 The Hong Kong Mortgage Corporation Limited has announced that it will shortly seek approval to launch a microfinance pilot scheme with a trial period of three years, from mid-2012.
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Sarkozy's Presidential Rival Outlines Fiscal Pledges 2/2/2012 French Socialist candidate for the Elysée, François Hollande,
has recently unveiled details of his presidential election programme, containing
a raft of fiscal measures, designed to stimulate the economy, to support small- and medium-sized companies in France, and to
reduce the public deficit to 3% of gross domestic product in 2013.
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HMRC 'Extends' Tax Deadline 1/31/2012 The UK tax authority HM Revenue and Customs will show leniency to taxpayers who file their self-assessment returns after the January 31 deadline, after fears
that taxpayers would be unable to get through to call centres on the day, thus
placing them at a disadvantage.
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IOM To Cut Compliance Burden On Self-Employed 1/26/2012 The Isle of Man Treasury has launched a consultation which proposes improvements to the collection of National Insurance contributions, to bring the Income Tax and National Insurance systems into alignment where possible.
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Ireland Launches Immigrant Investor Programme 1/26/2012 The Irish government is to introduce two major new immigration initiatives aimed at encouraging non-European migrant entrepreneurs and investors.
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UK Author Calls For Tax Breaks To Help New Writers 1/20/2012 A tax incentive would help give new writers a head start in publishing, one of the UK's leading authors has said.
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HMRC Issues E-Filing Deadline Warning 1/19/2012 The UK's first-time Self Assessment filers must register for e-filing by the end of this week or face being unable to send their tax return on time.
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UK Tackles Abuse Of Post-Cessation Trade Relief 1/16/2012 The UK government has announced that it is to introduce new legislation to block
a tax avoidance scheme involving post-cessation trade relief.
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Tax Disputes Service Launched For UK SMEs 1/10/2012 The UK's small and medium-sized businesses will benefit from the introduction of a new dispute resolution service, with the launch of a pilot scheme underway.
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French SME Body Welcomes 'Social VAT' 1/10/2012 Underlining the need to reduce the cost of labour in France and to widen the base
for financing welfare, the French industry body representing small- and medium-sized
companies, CGPME, has called for a rise in value-added tax and for
a rise in the general social contribution in return for lower employer contributions.
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UK Tax Institute Warns Of Tough New HMRC Penalties 1/2/2012 The UK's Self Assessment filers have been warned that HM Revenue and Customs is to impose a tough new penalty system from next year.
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UK To Launch Another Tax Amnesty 12/6/2011 Following on from compliance campaigns targetting certain 'high risk' professions and trades, the UK tax authority, HM Revenue and Customs, has announced another partial tax amenesty, this time focussing on unpaid tax owed by electricians.
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Jersey Highlights Upcoming Social Security Changes 12/6/2011 The Jersey government has reminded taxpayers of changes to the territory's system
of social security contributions from January 1, 2012, including an increase in
the rate paid by employers and incentives for new business formations.
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UK Tax 'Drives Away Wealth Creators' 11/28/2011 The UK faces a lost generation of wealth creators, with the 50% top rate of income tax set to push them away and cost the economy billions, a new report has said.
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Philippines Encourages Professionals To Pay Their Taxes 11/10/2011 The Bureau of Internal Revenue is urging professionals in the Philippines
to comply with tax laws and file their income tax returns correctly and on time.
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New Zealand To Tighten Company Rules 10/17/2011 A bill that tightens rules around company directors and company registration has been introduced to the New Zealand Parliament by Commerce Minister Simon Power.
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UK Tax Relief Changes To Hit Pension Contributions 10/17/2011 Self Invested Pension Plans and Small Self Administered Schemes will see their fund flow reduced as a result of reductions in tax relief, new research has revealed.
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New UK Tax Crackdown Targets Tutors 10/12/2011 The UK tax authority, HM Revenue and Customs, has turned its attention to private tutors and coaches with undeclared tax liabilities, as part of its ongoing clampdown on tax evasion.
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50% Tax Rate 'Damaging The UK', Survey Finds 10/7/2011 The UK's top rate of tax is damaging the country, according to a new survey, with financial services practitioners weighing in on the ongoing debate.
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Australia Consults On Standard Deduction 9/30/2011 Exposure draft legislation has been released for public consultation by the Australian government on proposals to provide individual taxpayers with a standard deduction for work-related expenses and the cost of managing tax affairs.
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German Lawmakers Adopt Tax Simplification Law 9/28/2011 The German Bundestag (lower house of parliament) and Bundesrat (upper house) have
now finally approved the government’s amended 2011 tax simplification law,
agreed by a mediation committee.
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IR35 Tax Yield In UK 'Minimal' 9/27/2011 The tax yield generated through reviews using the UK's controversial intermediaries legislation amounted to around GBP200,000 last year, HM Revenue and Customs has said, figures a leading freelance body says demonstrates that the difficulties caused by the system are 'completely unnecessary'.
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UK To Step Up Business Record Checks 9/26/2011 Following on from a pilot scheme, the UK's revenue agency is to extend its Business Records Checks programme, with plans to complete 12,000 such checks by the end of the current financial year.
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Jersey To Hike Social Security Rates 7/28/2011 The States Assembly has approved an increase to Social Security contributions
for employers of high-income earners.
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UK Seeks Views On Income Tax-NI Merger 7/15/2011 Ahead of a planned consultation in the autumn, the UK government has called for evidence on the possible integration of the income tax and National Insurance contributions systems.
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UK Launches VAT Amnesty 7/7/2011 The UK continues its crackdown on tax evasion, launching a new campaign focusing on those trading above the current value-added tax threshold, but who have not registered for the tax.
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Italian Business Against VAT Rate Hikes 7/6/2011 Ivan Malavasi, the new president of Rete Imprese Italia, which is formed of five
associations representing artisans, traders, the tourist sector and other services
in Italy, has stressed that the government’s proposed tax reforms should
not be realized by penalizing consumer spending.
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Greek Austerity Package Clears Hurdle 7/4/2011 Following a heated and tense debate, much as expected, the Greek parliament
voted to adopt the government’s second bill implementing its new economic
recovery plan, providing for dramatic tax rises, deep cuts in spending and rapid
privatisation measures.
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Greek Lawmakers Adopt Austerity Package 7/1/2011 Amid violent protests, and at the insistence of the European Union and
the International Monetary Fund, the Greek parliament has adopted the government’s
highly unpopular austerity package, vital to securing international aid and to
averting sovereign debt default.
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Greece Agrees Further Fiscal Measures 6/27/2011 Following fraught, intensive talks in Brussels, the Greek government announced
that the terms of a fresh EUR120bn bailout agreement had been negotiated between
Athens and international lenders, which include further tax rises and cuts in government
spending.
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UK's Disguised Remuneration Laws 'Too Complex' 5/18/2011 The UK's introduction of new changes to its disguised remuneration regime has been slated as far too complex, and criticized for involving penal legislation that risks creating problems as well as solving them, according to the Chartered Institute of Taxation's response to the proposals.
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Tax Support For Small Businesses In Australia 5/9/2011 The Gillard Government has announced that it will provide Australian small businesses with an instant tax write-off of the first AUD5,000 (USD5,386) of any motor vehicle purchased from 2012-13.
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Philippines BIR Puts Professionals Under Microscope 4/12/2011 The Bureau of Internal Revenue is conducting a campaign in the Philippines
to check the tax affairs of professionals and self-employed individuals, such
as doctors, engineers and lawyers.
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Philippines Looks To Reform Simplified Income Tax 3/21/2011 The Philippines’ House of Representatives Committee on Ways and Means has
approved a bill simplifying the net income taxation scheme that will limit
the allowable business deductions from gross revenues for self-employed individuals
and professionals.
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HMRC Checks Are Misguided, Says Institute 3/22/2011 The UK's plans for business record checks have been heavily criticised by the Chartered Institute of Taxation, which does not believe that the project will meet its objectives or help businesses improve their systems.
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UK Tax Panel For 'Radical' Small Business Reforms 3/14/2011 An interim report on small business taxation in the UK has recommended what have already been labelled radical reforms, with a view to simplifying administrative burdens and making it easier for small businesses when it comes to their tax responsibilities.
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Ireland Makes Changes To Relevant Contracts Tax 3/1/2011 Ireland's revenue agency has released details of a new scheme to enhance the effectiveness of the Relevant Contracts Tax, as contained in the recent Finance Act.
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HMRC Launches New Defaulters Programme 2/24/2011 The UK tax authority has launched a new programme designed to target known tax-evaders, provide sustained monitoring of tax affairs, and effect a permanent change in behaviour.
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IRS Urged To Look At Needs Of Small Business Taxpayers 1/20/2011 The United States Internal Revenue Service is taking steps to improve
customer service to small business and self-employed taxpayers, but it still needs
to conduct research to identify their needs and preferences, according to a new
report released by the Treasury Inspector General for Tax Administration.
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ICAS Calls For Merger Of UK Income Tax And NICs 12/14/2010 The Institute of Chartered Accountants of Scotland has called for the amalgamation of National Insurance contributions
paid by employees and the self-employed with the payment of individual income
tax to simplify tax compliance in the United Kingdom.
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Tax Agents Receiving Cold Shoulder From NZ Taxman 12/10/2010 The New Zealand Institute of Chartered Accountants has received complaints from tax agents that the Inland Revenue is refusing to speak with them when they are trying to get client tax debts resolved.
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IoD Welcomes IR35 Review 10/26/2010 The UK Institute of Directors has welcomed the news that the Office of Tax Simplification has begun to examine the controversial IR35 legislation, which affects millions of freelancers up and down the UK, but has urged the government to follow up its pledge to simplify the tax system by taking the OTS's findings seriously.
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UK Taxpayers Urged To Be Vigilant 9/30/2010 Entrepreneurs, including new businesses, those with multiple businesses and
the self employed are at risk of closer scrutiny from HM Revenue and Customs,
Tax Director at Smith & Williamson, Richard Mannion has warned.
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Ireland Must Incentivize Entrepreneurial Activity 9/28/2010 A new report published by the Certified Public Accountants Ireland has urged the government
to conduct a review of the taxation of entrepreneurial activity in Ireland, to
foster new start-ups.
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HMRC Mulls Radical PAYE Reform 9/23/2010 The UK tax authority, HM Revenue and Customs, is considering radical proposals to centralize the pay-as-you-earn tax payment system in order to iron out a number of errors which have beset the antiquated system for a number of years.
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HMRC Increases 'Aspect' Enquiries 8/23/2010 A significant increase in personal tax 'aspect' enquiries confirms HM Revenue and Customs adopting a more targeted approach.
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Ireland Plans Social Security Overhaul 8/20/2010 The Irish government is considering a major reform of Ireland’s social security contribution system, Pay Related Social Insurance.
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German Court Accepts Home Office Tax Deduction 8/2/2010 Germany’s Constitutional Court has ruled that a provision preventing costs
associated with working from home for some individuals from being tax deductible
is unconstitutional.
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HMRC Criticised Over Tax Case Backlog 7/23/2010 The National Audit Office has criticised HM Revenue and Customs for failing to clear a substantial backlog of tax cases which involve either tax overpayments or underpayments.
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IRS Announces Help For US Small Business 5/10/2010 Some 200 Internal Revenue Service offices will open across America on Saturday May 15 in an effort to help small businesses and individual taxpayers solve their taxation problems.
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UK Tories Promise to Review IR35 4/29/2010 Shadow Business Minister Mark Prisk has said that the Tories will conduct a review of small business taxation, in particular rule IR35 that affects small businesses and freelancers, should they win the forthcoming general Eelection.
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US Expands Tax-Free Health Benefits 4/29/2010 As a result of changes made by the recently enacted Affordable Care
Act, health coverage provided for employees' children under 27 years of
age is now generally tax-free to the employee, effective March 30,
2010, the Internal Revenue Service has announced.
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UK Taxpayer Stung By Tax Return Mistake 4/27/2010 A subcontractor from Kent in the United Kingdom has found himself facing a GBP1,400 fine for making a 'careless' mistake with regard to his tax affairs, despite the fact that HM Revenue & Customs actually owed him money.
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IoM Issues Guidance On Directors' Fees 4/13/2010 The Isle of Man government has released a guidance note on the treatment of non-executive
directors’ fees paid by Isle of Man companies to Manx-resident directors
with regard to income tax installment payments and National Insurance Contributions.
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UK Parties Tussle Over Tax 4/6/2010 The issue of tax is shaping up to be a key battleground ahead of the UK election as the opposition Conservatives step up their attacks on government plans to increase National Insurance contribution rates.
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NZ To Close Tax Loopholes 3/24/2010 New Zealand’s Finance Minister, Bill English, will attempt in the forthcoming budget to make the tax system fairer by closing certain
loopholes to ensure that taxable income more accurately reflects true economic
income.
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Italian Tax Reform Debated 3/16/2010 At its 2010 Forum, Confcommercio’s president, Carlo Sangalli, called for
tax cuts to help the economic recovery in Italy, but Giulio Tremonti, the Minister
of the Economy, reiterated that overall fiscal reform could take up to three years.
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