TaxPersonal TaxAccountancyAge.com weekly news focus: Tax

AccountancyAge.com weekly news focus: Tax

Lossmaking internet auctioneer QXL this week slated a £15m national insurance bill on its employee share options scheme caused by the company's huge share valuation. Meanwhile, Baker Tilly has unleashed a vicious attack on the government for its 'skyrocketing' tax burden.

Meanwhile, most tax advisers will be taking things easy this week after the rush to meet last week’s self-assessment deadline.

Not all, however. The latest figures from the Revenue indicate there are more than 800,000 returns still at large – the biggest figure since self-assessment was introduced.

As a result, it could collect as much as £80m in fines.

Other tax news this week included moves by Brussels to impose VAT on ‘virtual’ goods and revelations that Elton John is locked in battle with the Revenue over his national insurance contributions.

Special features on AccountancyAge.com this week include a detailed look and reactions to the US watchdog’s clampdown on auditor independence which last week forced the resignation of a top British PricewaterhouseCoopers partner.

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