A group of landlords have lost their High Court attempt to force a judicial review of legislation to reduce tax relief on buy-to-let interest payments from April 2017.
SME Tax News
The Chartered Institute of Taxation (CIOT) have written an open letter to Phillip Hammond asking him to reform the way tax policy is made in the UK.
HMRC have launched a consultation ‘Penalty for participating in VAT fraud’. This proposes a new penalty for those that knew or should have known their transactions were connected with fraud.
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This time we have one of our regular SME tax update specials. We also have some very interesting developments in devolving taxes and of course, there is much more if you read on.
In Peter Browne v HMRC [2016] TC05331 a careless delay in transferring funds between pension plans led to an unauthorised payment charge for the taxpayer.
In Andrew Chappell v HMRC [2016] EWCA Civ 809 HMRC recorded their 10th successive victory on tax avoidance schemes promoted by NT Advisors, bringing the total tax protected to over £900m.
HMRC's draft guidance on the new Northern Ireland Corporation Tax regime paves the way for a lower rate of Corporation Tax than the rest of the UK.
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This time we are looking at the findings from new RTI research, Finance Act 2016, and we also have updates for Personal Service Company owners.