ICAEW welcomes proposed reforms to employee ownership trusts
[ad_1] A tax regime was introduced in 2014 to allow company owners to sell their companies to trusts that are run for the benefit of the employees. Overall, the regime has worked well but several changes were proposed by HMRC in a consultation document to ensure the regime better meets its objectives. The first main […]
ICAEW welcomes HMRC proposals on Terminal Markets Order
[ad_1] The Terminal Markets Order needs updating, but ICAEW questions why the proposed simplification doesn’t go further. HMRC’s consultation on reforming the Terminal Markets Order (TMO) proposed to modernise the legislation that underpins the VAT treatment of certain wholesale commodity transactions. In its response, ICAEW’s Tax Faculty agreed that the TMO needed modernising. It was […]
ICAEW welcomes off-payroll working set-off proposals
[ad_1] HMRC’s consultation proposes offsetting taxes overpaid by different parties in the labour chain when an off-payroll working employment status determination has been corrected. ICAEW’s Tax Faculty welcomes the proposals in HMRC’s consultation to allow HMRC to account for taxes already paid by an individual and/or their intermediary (eg, personal service company) when calculating a deemed […]