9am Lowdown: DMX, foreign landlords & PAYE coding

9am Lowdown
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Good morning and welcome to this today’s 9am Lowdown.

In the news

US rapper DMX has been charged with tax fraud in the US after allegedly hiding millions of dollars in earnings. (BBC News)

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The proportion of foreign landlords owning property in the UK has fallen to a new low, with tax changes appearing to have discouraged them, according to letting agent Countrywide. (BBC News)

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Donald Trump’s tax reform plans would, if enacted, increase the gap between rich and poor Americans and see the US slip below Greece on a new global index of inequality. (The Guardian)

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Rural council leaders will today demand that Theresa May grant them powers to raise and retain tax of at least £2 billion. (The Times)

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If you receive a coding notice that includes an estimated underpayment for the current tax year you should review whether you think the estimate is accurate, urges The Low Incomes Tax Reform Group.  

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What’s new on AccountingWEB

Problems and traps still abound with auto-enrolment for the lower paid, and tax relief for pension contributions, writes Kate Upcraft.

Dave Chaplin has an action plan for accountants who risk losing revenue if they fail to keep their clients outside of the IR35 rules.

ClearBooks asks on their Industry update page, will Making Tax Digital even happen?

Meanwhile, Jennifer Adams has blogged, “I am so glad that I didn’t waste too much time planning how and when I was going to tell clients about MTD.”

The Any Answers question of the day comes from Hostess who asks, “Can my client claim VAT back on the materials used for the construction of a mobile log home?”

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Contributions from the AccountingWEB.co.uk editorial team.


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