In Jerome Anderson v HMRC [2016] UKFTT TC05314, the First Tier Tribunal (FTT) denied a football agent relief for trading losses: if he was carrying on a trade, then it was not on a commercial basis with a view to making profits.
Tribunal suspends one off penalty for error
In Eric Eastman V HMRC [2016] TC05276, the First Tier Tribunal (FTT) allowed suspension of a penalty for a one-off capital gains tax (CGT) error. The taxpayer’s accountant made the mistake and he created to new systems to prevent re-occurrence.
Nichola's SME Tax w-update 30 August 2016
Hello
This week we have a slightly employer-oriented edition. HMRC are sending out fines for late filing of what was the old Form 42 and there is a new Employer Bulletin. We also have a guide to the Apprenticeship levy and also apprenticeship funding.
VAT & multiple building dwellings: HMRC policy change
HMRC have released Revenue and Customs Brief 13 (2016), 'VAT, the liability treatment of a dwelling formed from more than one building', this sets out a change in its VAT treatment for contruction and conversion of dwellings.
Nichola's SME Tax w-update 18 August 2016
Making Tax Digital: Index & timeline
When does Making Tax Digital (MTD) apply? What does Making Tax Digital really mean? How will it affect you? Does MTD mean quarterly reporting? Is my business exempted from Making Tax Digital?
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