Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration
Home Saved articles Viewed items Login Contact Free Trial Advertise View virtual issue View online issue

The amount of tax relief claimed by charities grew to £3.31bn in 2014/15, from £3.07bn in 2013/14, according to latest figures from HMRC.

The total amount comprised £1.64bn in business rates relief, £1.2bn from gift aid, £300m in VAT breaks, and £170m worth of stamp duty land tax relief.

The Revenue’s numbers, which are provisional, indicate that reliefs for individuals on gifts to charities increased by £100m to £1.2bn, with rises in inheritance tax relief, higher-rate breaks on gift aid and covenants, and relief on gifts and shares.

Are HMRC seeking to influence the structure of business deals?

Steer your clients in the right direction

The Commons debate of Finance (No 2) Bill 2015

Capital tax concerns when disclosing income from land and property

HMRC’s figures for the years ended 31 December 2014 and 31 March 2015

HMRC have curbed their use of private debt-collectors by half, according UHY Hacker Young.

Research by the accountancy group shows the Revenue spent £6.8m on retrieving money through third-parties in 2014, compared with a record £14.8m in 2013.

“Debt collection agencies are rarely the most appropriate way for HMRC to collect unpaid taxes,” said Mark Giddens, head of UHY Hacker Young London’s private client department

The Bunker Secure Hosting Ltd (TC4349)

HMRC are reviewing their system of fines

Service your clients

HMRC have published Employer Bulletin 53. Extracts follow.

Reminders for the new tax year

The van benefit charge exemption for zero-emission vans is being phased out between April 2015 and April 2020. From 6 April 2015 a special low rate of 20% of van benefit charge will apply for zero-emission vans. This will increase each year until 6 April 2020 when it becomes the same as the full van benefit charge.

J Day & A Dalgety (TC4343)

Show
12
Results
back to top icon