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As anticipated, the Royal Assent of the Finance Bill will be delayed until Parliament returns in September. This will affect the commencement date for some measures: more details are in our free view news article below.
Finance Bill Royal Assent delayed until September
The Leader of the House of Commons has confirmed that the Finance Bill 2016 will not receive Royal Assent until after the summer recess, with the remaining stages of the bill being considered in September.
Nichola's SME Tax w-update 22 July 2016
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The weather seems to be warming up at last, but that doesn't mean things are cooling down in the world of tax.
HMRC begin issuing 2015/16 tax calculations
HMRC have begun issuing their end of year tax reconciliations for 2015/16, and are expected to have sent around 6 million of these forms P800 to taxpayers by the end of November.
Daily penalties: HMRC victory in Court of Appeal
In Donaldson v HMRC [2016] EWCA Civ 761 the Court of Appeal confirmed that HMRC had correctly imposed daily late filing penalties under Schedule 55 FA 2009. This decision is important as there have been a number of cases put on hold awaiting its outcome.
Nichola's SME Tax w-update 15 July 2016
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This time: we have a look at the new Transactions in Securities rules in respect of distributions. HMRC has not yet published case studies and so we have created some to help you understand how the new rules work and what kind of situations to avoid.
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