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Guide to Taxpayers' Rights and HMRC Powers, Sixth Edition illustrates the growing breadth of HMRC powers which seem to increase every year as successive governments strive to counter tax avoidance and offshore tax evasion. As this process continues, the rights of taxpayers become less evident and this book clearly lays out what these are, as well as the increasingly complex penalty regime for non-compliance and what steps practitioners can take on behalf of their client to challenge HMRC on any enquiries or decisions. Finance Act 2018 included new provisions covering hidden economy conditionality, simplifying late submission and late payment sanctions, and extending time limit for offshore non-compliance; and the new edition addresses all these areas. Key updates for this edition: - Updated to include commentary on the Government's Making Tax Digital (MTD) initiative, the administrative rules for the April 2019 loan charge and the new VAT DOTAS rules. - Includes coverage of important new cases including: -- R (on application of Jiminez) v FTT (scope of information notices) -- J P Whitter (Wearwell Engineers) Ltd v HMRC (removal from CIS) -- HMRC v Raymond Tooth (deliberate inaccuracy) -- Raftopolou v HMRC (interpretation of TMA 1970, s 118(2)). This book is an essential resource for all tax practitioners, tax advisers and accountants.
A comprehensive and accessible account of the U.S. estate tax, examining its history and evolution, structure and inner workings, and economic consequences. Governments have been levying some form of inheritance tax since the ancient Egyptians did so in the seventh century BC. In the United States, the federal government experimented with various forms of inheritance taxes, settling on an estate tax in 1916 and a gift tax in 1932. Despite this long history, there are few empirical studies of the federal estate tax. This book offers the first comprehensive look at U.S. estate and inheritance taxes, examining their history and evolution, structure and inner workings, and economic consequences. Written by David Joulfaian, a veteran economist at the U.S. Department of the Treasury, the book provides accessible accounts of such topics as changes in tax laws, issues of equity, the fiscal contribution of the estate tax, and its behavioral effects. Joulfaian traces the evolution of U.S. inheritance taxes from 1797 to the present, noting that the estate tax rate and base expanded through 1976, then began to decline. He describes the tax itself, explaining that it currently applies to estates and gifts in excess of $11.18 million, and outlines applicable deductions and credits. He sketches a profile of taxpayers and their beneficiaries; surveys the revenues from estate and gift taxes; and discusses the effect of estate taxation on labor decisions, saving and wealth accumulation, charitable giving, life insurance ownership, and other economic activities. Finally, he addresses criticisms of the estate tax and analyzes its shortcomings. Accompanying tables present a wealth of data gathered by Joulfaian in his research and not available elsewhere.
"The American taxpayer"--angered by government waste and satisfied only with spending cuts--has preoccupied elected officials and political commentators since the Reagan Revolution. But resistance to progressive taxation has older, deeper roots. American Tax Resisters presents the full history of the American anti-tax movement that has defended the pursuit of limited taxes on wealth and battled efforts to secure social justice through income redistribution for the past 150 years. From the Tea Party to the Koch brothers, the major players in today's anti-tax crusade emerge in Romain Huret's account as the heirs of a formidable--and far from ephemeral--political movement. Diverse coalitions of Americans have rallied around the flag of tax opposition since the Civil War, their grievances fueled by a determination to defend private life against government intrusion and a steadfast belief in the economic benefits and just rewards of untaxed income. Local tax resisters were actively mobilized by business and corporate interests throughout the early twentieth century, undeterred by such setbacks as the Sixteenth Amendment establishing a federal income tax. Zealously petitioning Congress and chipping at the edges of progressive tax policies, they bequeathed hard-won experience to younger generations of conservatives in their pursuit of laissez-faire capitalism. Capturing the decisive moments in U.S. history when tax resisters convinced a majority of Americans to join their crusade, Romain Huret explains how a once marginal ideology became mainstream, elevating economic success and individual entrepreneurialism over social sacrifice and solidarity.
In this well-established guide, Robert Maas uses his expertise to provide clearly laid-out commentary on the scope of the taxation of income from employments and pensions. This also includes the distinction between employment and self-employment, the means for identifying deemed employment income and the rules around expenses and benefits. Taxation of Employments, 18th Edition takes into account the two 2017 Finance Acts, as well as Finance Act 2018. Among the key areas to change are the following: - IR35 rules for those in the public sector - Optional remuneration arrangements - Overseas pensions - Tax and NIC treatment of termination payments - Disguised remuneration rules as part of the Government's commitment to further tackling tax avoidance In addition, the text is updated by analysis of several important new cases as follows: - Smith & Williamson Corporate Services  UKFTT 0495 (TC) - Murray Group Holdings  UKSC 45 - Shah v Insafe International  EWHC 1036 (Ch) - Bayliss  UKFTT 608 (TC) - M Najib & Sons  UKFTT 147 (TC) - D-Media Communications  UKFTT 430 (TC)
Is it allowable? That is the question so often heard when an accountant is preparing a client's business accounts. There are classic 'grey area' expenses as well as the detail behind new legislation to contend with in the quest for the solution. Researching the problem is time-consuming and stressful. This is where A-Z of Business Tax Deductions, 2nd edition steps in. It has been compiled to provide clarity in areas where there is doubt. It examines the deductibility for tax purposes of particular expenses incurred by sole traders, partnerships and limited liability partnerships. The A-Z format allows the reader to navigate to the relevant topic. Each section contains a listing of relevant cases, HMRC guidance and legislative references so that the legal principles that lie behind the issue can be considered. Extra commentary is provided in instances where a clear 'yes or no' answer to the deductibility question simply does not exist. A-Z of Business Tax Deductions, 2nd edition has been thoroughly revised and updated to reflect the major legislative changes brought in by recent Finance Acts including Finance Act 2018, as well as recently issued HMRC guidance and relevant new cases. Key updates include: - Loan interest relief restriction for residential property businesses - Qualifying conditions for using cash basis accounts - New cases on subsistence and travel claims - Adjustments on change of accounting basis - Trading and property allowances
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