MPs debated the online petition "Scrap plans forcing self employed & small business to do 4 tax returns yearly" earlier this week and the Financial Secretary to the Treasury, David Gauke provided more detail of the government's plans for digital reporting.
Nichola's SME Tax w-update 22 January 2016
Hello
If you would like some lighter reading this week, look at HMRC's Top Ten Worst Excuses as used in unsuccessful appeals against late filing penalties last year.
HMRC issues invalid APNs to IT contractors
HMRC has been forced to withdraw thousands of APNs in respect of a contractor Isle of Man tax avoidance scheme.
Late Tax Return? HMRC top 10 worst excuses
Each year in the run-up to the Self Assessment filing deadline, HMRC publish their annual 'Top 10 worst excuses for late tax returns'.
Nichola's SME Tax W-update 15 January 2016
Hello
The government's plans to force businesses to undertake quarterly reporting have received a blow this week. The success of an accountant's petition opposing the proposals has prompted a debate in parliament.
Joining fee for client connections is employment income
In HMRC v Smith & Williamson Corporate Services and Patrick Smiley UKUT [2015], a payment received by a new employee from a third party in respect of his client connections was held to be employment income and not a capital payment in respect of any transfer of goodwill.
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