The Van Benefit and Car and Van Fuel Benefit Order, SI 2016/1174, increases the multiplier figure used to calculate the cash equivalent of the benefit of fuel received by an employee for private motoring in a company car to £22,600 (currently £22,200) with effect from 6 April 2017.
HMRC has published revised advisory fuel rates for company cars, which apply from 1 December 2016. These rates are to be used only where employers either reimburse employees for business travel in company cars, or require employees to repay the cost of fuel used for private travel.
The amount of ‘tax under consideration’ by HMRC’s large business directorate has increased by 60% in the last year, to £3.8bn, according to Pinsent Masons. This is an estimate of the amount potentially at stake across all open enquiries involving the largest companies.
Andrew Goldstone and Charlie Sosna (Mishcon de Reya) review recent private client tax developments that matter.
The Department for Business, Innovation and Skills has published an updated policy on HMRC's enforcement of the national minimum wage and national living wage. The national living wage applies to workers aged 25 and over from 1 April 2016.
No Moore relief. Experts at BKL Tax review a recent tribunal decision.
The Income Tax (Construction Industry Scheme) (Amendment of Schedule 11 to the Finance Act 2004) Order, SI 2016/404, simplifies the compliance test, which is one of three tests that sub-contractors must satisfy to be registered to receive payments gross under the construction industry scheme, wit
Laura Charkin and Stephen Pevsner (King & Wood Mallesons) look back on a turbulent year for fund managers and consider the proposed new ‘income-based carried interest’ tax rules.