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Disguised employment and Entrepreneurs' Relief
In Richard Hurst v HMRC [2014] TC0403 a taxpayer successfully claimed that he was a "disguised" employee in order to claim CGT Entrepreneurs' Relief. His claim to be a de facto director failed.
CGT: main residence relief - no elections
Two cases on Capital Gains Tax Private Residence Relief (PRR): one where the timely use of a main residence election would have saved the day, and the other where a property did not qualify as a "residence".
Nichola's SME Tax w-update 23 Oct
Hello
This time we have a new guide on Employee (share) Ownership Trusts; these may be an interesting idea for some client companies and also an alternative mechanism for succession planning.
Let them eat VAT
Silly VAT facts: Snowballs are cakes, Flapjacks are cakes, Morrison's Blue Berry Muffin, Banana Bread, Ginger Bread and Lemon Drizzle Nak'd bars are confectionary, and not cakes.
Nichola's SME tax w-update 8 October 2014
Hello
This time: HMRC is consulting a new quarterly reporting requirement for agencies in its efforts to clamp down on "false self-employment". With this comes yet another harsh penalty regime with fines of up to £3,000 for failing to retain records. This all follows HMRC's changes to the agency rules back in April.
Employment intermediaries: new quarterly reporting requirement
In its continuing efforts to clamp down on the practice of “disguised self-employment” HMRC is proposing the introduction of a new quarterly reporting regime for agencies and intermediaries who supply self-employed workers.
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