The new tax year, 2015-2016, will see the first use of online tax accounts. This introduction is set to remove the requirement for self-assessment forms once the system is rolled out as it replaces these forms with universal digital tax accounts.
A study by The United Nations suggests that countries should consider the introduction of a voluntary tax in leisure activities such as concerts and football matches in order to raise funds for humanitarian operations.
A proposal to introduce a voluntary ‘Fair Tax Payer’ label for companies who engage in good tax practices is being requested to be brought forward. The European parliament is calling on the European commission to bring the proposal forward in order to increase tax transparency.
More than a million small businesses have to enrol employees automatically into a workplace pension scheme within the next two years;this new rule has left some employers confused about their responsibilities.
Following the launch of a government inquiry airport shops could be forced to give VAT discounts to passengers travelling outside the European Union.
As part of its digital strategy HMRC will close 137 of its 170 offices across the country, affecting 60,000 staff with unconfirmed job losses as the tax department moves its operations into 13 super hubs.
The HMRC have reported record breaking number of people submitting their tax returns over the Christmas period. 24,546 people submitted their tax return online on New Year’s Eve and more than 11,467 people sent off their self-assessment tax return on New Year’s Day. Even Christmas day saw in excess of 2,000 taxpayers submitting their tax returns.
A new scheme is being launched offering anyone reaching State Pension age before 6 April 2016 a chance to increase their State Pension by up to £25 a week.
Higher SDLT on purchases of additional residential properties
From 1 April 2016 higher rates of SDLT will be charged on additional residential properties , such as buy to let properties and second homes (above £40,000) These higher rates will be three percentage points above the current SDLT rates.
Retaining the 3% diesel supplement for company cars which was to abolished
The scale of charges for working out the taxable benefit for an employee who has use of an employer provided car are now announced well advance. Cars are taxed by reference to bands of CO2emissions. From 6 April 2015 the percentage applied by each band went up by 2% and the maximum charge is capped at 37% of the list price of the car.