Input VAT: importance of a valid invoice

Last Updated: 31 August 2023

In Gradon Construction Limited v HMRC [2016] TC04935 input tax credits were refused as invoices were not valid for VAT and there was insufficient additional supporting evidence.

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CIS: ignorance is bliss?

Last Updated: 31 August 2023

In Eric Donnithorne v HMRC [2016] TC05017 a liability under the Construction Industry Scheme (CIS) was discharged as it was reasonable that the taxpayer did not realise he had any obligation to make deductions.

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Realised & distributable profits: ICAEW update

Last Updated: 31 August 2023

The ICAEW / ICAS have released some proposed amendments to "TECH 02/10 Guidance on realised and distributable profits under the Companies Act 2016".  

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Consultation: tips, gratuities & service charges

Last Updated: 31 August 2023

The Government has launched a consultation on the treatment and transparency of tips, gratuities, cover and service charges.

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PAYE/RTI penalties: 3 day grace period extended

Last Updated: 31 August 2023

HMRC is continuing its RTI penalty concession. Employers have an extra three days to report their payrolls online...until 2017.

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Share loss relief: loan converted into shares

Last Updated: 31 August 2023

In John Lewis v HMRC [2016] TC05029 share loss relief was allowed when an undocumented loan was converted to shares and the company ceased to trade shortly after. 

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  1. HMRC update guidance on selecting a Flat Rate Scheme percentage
  2. Share loss relief: shares not Ordinary
  3. Entrepreneurs' Relief: the dangers of unusual share rights
  4. Accountant error leads to tax penalty
  5. Treasury Committee concerned over software costs of Making Tax Digital

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