HMRC has been allowed a budget of just under £999,660 to advertise the marriage allowance.
Unexpected tax charge for excess pension contributions
The introduction of the tapered annual allowance means that some individuals will see their allowable pension contributions for the 2016/17 tax year reduced to just £10,000.
Welsh Land Transaction Tax is on its way
On 5 July 2016 the Welsh Government published the draft Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill setting out proposals for the introduction of the Welsh Land Transaction Tax (LTT) which will replace Stamp Duty Land Tax (SDLT) in April 2018.
Input VAT claim allowed on purchase of car
In Jane Borton t/a Contract Build v HMRC [2016] UKFTT TC05224 the First Tier Tribunal (FTT) agreed that the input VAT paid on the purchase of a car by a sole trader could be reclaimed.
Partners not obliged to follow partnership return
In R King & Others v HMRC [2016] TC05163, the First Tier Tribunal (FTT) found that the members of an LLP could declare a different profit share in their personal returns if they believed that the figure in the partnership return was incorrect.
Nichola's SME Tax w-update 1 July 2016
Hello
What a week! Quite apart from Brexit (and the football...), life for our totally digital business is always a bundle of laughs: we've had two days of power cuts, Windows 10 upgrade issues and DNS errors. The show goes on! We are back this time with some 'back-to-basics' guides, a look at what Brexit means for tax, HMRC's Agent update, a couple of cases and updates to our guides.
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