HMRC have provided their first examples showing how they might apply the new targeted anti-avoidance rule (TAAR) to combat "phoenixing" which was introduced by Finance Bill 2016.
HMRC have provided their first examples showing how they might apply the new targeted anti-avoidance rule (TAAR) to combat "phoenixing" which was introduced by Finance Bill 2016.
The Leader of the House of Commons has confirmed that the Finance Bill 2016 will not receive Royal Assent until after the summer recess, with the remaining stages of the bill being considered in September.
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The weather seems to be warming up at last, but that doesn't mean things are cooling down in the world of tax.
HMRC have begun issuing their end of year tax reconciliations for 2015/16, and are expected to have sent around 6 million of these forms P800 to taxpayers by the end of November.
In Donaldson v HMRC [2016] EWCA Civ 761 the Court of Appeal confirmed that HMRC had correctly imposed daily late filing penalties under Schedule 55 FA 2009. This decision is important as there have been a number of cases put on hold awaiting its outcome.
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