Crowe’s tax team reflect on the topical tax developments so far in 2018 and the areas that organisations should focus-on in the second half of 2018/early 2019. At the start of the year, we detailed some of the upcoming tax developments that we recommended organisations address during 2018. Half way through the year it has become apparent that several trends are developing. For some time there has been greater emphasis on the processes and controls in place to ensure good tax governance. This has continued during 2018 but is being enhanced by technology to create, for the first time in the UK, a ‘digital tax environment’. This year is seeing the start of the government's initiative to transform HM Revenue and Customs (HMRC) into a world leading, digital tax authority. HMRC has also been focusing on the ‘tax gap’ and introducing new measures to increase the amount of tax collected in the UK. Finally, Brexit must inevitably feature in an organisation’s planning for 2018 and 2019.
Audit / Tax / Advisory / Risk
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Tax developments:
Summer 2018
Helping you plan for change
2018 Crowe U.K. LLP
Tax developments: Summer 2018
Crowe's tax team reflect on the topical tax
developments so far in 2018 and the areas
that organisations should focus-on in the
second half of 2018/early 2019.
At the start of the year, we detailed some of
the upcoming tax developments that we
recommended organisations address during
2018. Half way through the year it has
become apparent that several trends are
developing.
For some time there has been greater
emphasis on the processes and controls in
place to ensure good tax governance.
This has continued during 2018 but is being
enhanced by technology to create, for the first
time in the UK, a 'digital tax environment'.
This year is seeing the start of the
government's initiative to transform HM
Revenue and Customs (HMRC) into a world
leading, digital tax authority.
HMRC has also been focusing on the 'tax
gap' and introducing new measures to
increase the amount of tax collected in the
UK.
Finally, Brexit must inevitably feature in an
organisation's planning for 2018 and 2019.
Tax developments
2
2018 Crowe U.K. LLP
Tax developments: Summer 2018
Contents
1. Making Tax Digital for VAT
4
2. Brexit
6
3. Off payroll workers
8
4. Termination payments changes
9
5. Watch tax on company cars
10
6. Remuneration planning
12
7. Corporate offence of failure to prevent the
facilitation of tax evasion
13
8. Requirement to correct/failure to correct
14
9. Selling remotely into the US
15
10. Continued spotlight on tax evasion
16
2018 Crowe U.K. LLP
Tax developments: Summer 2018
VAT is at the forefront of HMRC's Making Tax
Digital (MTD) plans. All businesses with a
turnover above the VAT registration threshold
will now be required to keep their VAT
records digitally and submit their VAT data to
HMRC through compatible software. This will
present a significant change to processes for
many businesses and is expected to mean