In M & E McQuillan v HMRC [2016] TC05074 redeemable non-voting shares carrying no right to a dividend were not counted as ordinary shares for CGT relief on the basis that no right to a dividend amounted to a fixed rate dividend of 0%. This finding is contrary to HMRC's manuals.
Accountant error leads to tax penalty
In Bernard Bediako v HMRC [2015] TC05054 an accountant's misunderstanding of self assessment and the appeals procedure resulted in a tax penalty for the taxpayer.
Nichola's SME Tax W-update 6 May 2016
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We have a Land & Property special this time, with our latest Adviser's Update providing a detailed summary of all the recent developments and proposals in all areas of property taxation from income tax to SDLT.
Treasury Committee concerned over software costs of Making Tax Digital
The Chairman of the House of Commons Treasury Committee has written an open letter to David Gauke, the Financial Secretary to the Treasury, raising concerns about the implementation costs for businesses of the Making Tax Digital proposals.
LDF: yield still rising
HMRC has updated its yield statistics for the Liechtenstein Disclosure Facility (LDF). It seems that the number of disclosures has risen slightly as the facility winds down and the average disclosure level follows a very, very smooth straight line upwards.
Nichola's SME Tax w-update 29 April 2016
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A really short tax web-update this week, due to the fact that we have been working extremely hard to provide you with summaries! I hope that you like it.
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