Weekly tax brief | 11 July 2018

Government publishes new proposals for early payment of tax
Andrew Hubbard
The draft Finance Bill contains new proposals to bring forward the payment of both Capital Gains Tax and Stamp Duty Land Tax. This trend is likely to continue and each year a bit more tax is likely to end up in the government’s hands a little earlier. Eventually, it's likely that all taxes will be paid in something close to real time.

It's time to bring our Victorian tax system into the 21st century
Andrew Hubbard
A number of recent tribunal decisions have called into question the validity of tax returns in certain circumstances. This is due in part to the system having its roots in the Victoria era. The tax administration system is now in need of a complete overhaul and HMRC needs to initiate it.

Reclaiming overpaid tax on pension withdrawals needs skill and determination
Jackie Hall
Emergency tax rates applied to pension lump sums can lead to individuals suffering substantial overpayments of tax and it seems many of those affected may be failing to make repayment claims.

Points mean penalties
David Wilson
From April 2020, the VAT default surcharge regime will be replaced by two new penalties. But will the new points-based penalty system be as disproportionate as the regime that it's replacing?

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