Hello
This time we have the extraordinary case of what happened when the BBC attempted to manipulate the law, last minute warnings on disappearing allowances and something for granny.
The BBC has been in the tax news this week, and it would be quite funny except that they are a public body. The corporation attempted a bizarrely high handed stunt that involved trying to persuade the First Tier Tax Tribunal that it should be allowed to insert witness evidence of its own choosing into an IR35 case. It seems that the 'powers that be' at the Beeb were worried that the witnesses that they had already offered up to HMRC were inadequately briefed and that they needed to control both their witnesses and the way in which they provided evidence. Happily Judge Ann Redston found that people who are not party to legal proceedings cannot wade in and provide their own version of evidence whenever it suits them.
If you have moved house between September 2015 and 31 March 2016 and purchased a house with a granny annex did you pay too much SDLT? If so, you have only limited time to appeal. Alternatively have you taken over an old business premises and could you have claimed the business premises renovation allowance? The allowance disappears next year. Guides to both below.
The professional bodies have decided that they are not in favour of new business vehicles for micro entities, we review their submissions in response to the Office of Tax Simplification's discussion paper.
Enjoy the guides and more updates and the news is below.
Back soon
Nichola Ross Martin FCA Tax Director
Your Virtual Tax Partner®: online PRACTICAL support for accountants & tax advisers BY accountants & tax advisers
Quick news (freeview)
IR35: the story behind this week's headlines
The BBC fails to persuade the FTT that Aunty knows best when it comes to IR35 witness evidence.
Last chance for Business Property Renovation Allowance
BPRA, a relief which can provide 100% relief for expenditure on converting or renovating unused commercial property for business use, comes to an end on 31st March 2017 (5 April 2017 for companies).
Did you pay too much SDLT on your annex?
People who bought properties with self-contained annexes before 1 April 2016 might have unknowingly overpaid Stamp Duty Land Tax (SDLT).
OTS consultation review of responses
The main professional bodies are not in favour of the Office of Tax Simplification (OTS) discussion papers ‘Lookthrough taxation’ and ‘Sole Enterprise with Protected Assets'.
HMRC: Tax refund received email
If you get one of these emails, trash it: tt's not from HMRC.
Case Update (freeview)
SOCA can raise tax assessments too
In Gary John Robb v National Crime Agency [2016] TC 05374 the First Tier Tribunal (FTT) upheld tax and penalty assessments made by the Serious Organised Crime Agency (SOCA) in targeting a known criminal.
Penalties: agent registration delays & paper returns
In Oasis Church Trust v HMRC [2016] TC 05360 agent registration delays and attempts to file paper returns instead instead did not prevent penalties being charged for late filing of employer annual returns.
Stallholder pitches are subject to VAT
In Kati Zombory-Moldovan (t/a Craft Carnival) v HMRC [2016] UKUT 0433 the Upper Tribunal (UT) has overturned the First Tier Tribunal’s (FTT) earlier decision and found that the supply of stalls at craft fairs is subject to VAT.
Practical Tax Guides and Updates (subscribers)
How to form a company
NEW: another of our back to basics practical guides: this time on how to form a private limited company and the points you need to consider.
SDLT: Annexes and multiple dwellings relief
NEW: A guide to SDLT treatment for properties with annexes.
Starting in business? Start here!
Update: a great place to start when you are taking on new clients.
Editor's Choice
IR35
The IR35 tax rules may apply when a worker supplies his personal services through an intermediary trading vehicle such as a company or partnership. Restictions on travel in 2016/17 and new rules from 2017.
Directors: what expenses can I claim?
From working from home, to travel and subsistence (new rules for 2016/17) to insurance and much more.
How to appeal a tax penalty
We follow tax appeal cases and we have compiled this guide to ensure that you draft out your appeal correctly.
Missed last time's update?
Nichola's SME Tax Update 7 October
Features:
- Issuing new shares
- Paying dividends
- Share capital: what's an ordinary share?
- Making a tax disclosure
- VAT representatives
- Client notification
- CGT Private residence relief
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