In Debra Elizabeth Adjei v Official Receiver and HMRC EWCA 1572 [2023] (Admin), the High Court annulled a bankruptcy order against an employee due to unpaid PAYE and NICs. She proved that she was merely the employee operating the payroll and not the employer as HMRC had falsely alleged.
SME Tax News
Missed our SME Tax Web-updates in July? Here is a summary of the month.
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A new government consultation considers the merits of increased tax incentives, particularly extending the Benefit in Kind (BiK) exemption for medical benefits. We have a new Agent Update and our tax cases cover sales suppression by a prolific puppy breeder and a successful input VAT claim on a fund raising share sale. It's getting to the end of another busy week.
HM Treasury and HMRC have opened a joint consultation ‘Tax incentives for occupational health’. This explores how the tax system can support employers to increase the provision of occupational health services for their employees.
In Sylvia Hook v HMRC [2023] TC08859, the First Tier Tribunal (FTT) found that a dog breeder deliberately under-declared puppy sales. Recorded sales of cockapoos, poodles and French bulldogs, each fetching £1,000 per puppy, were shown at a maximum of 194 a year, vastly understating the actual 297 sales of one particular year.
When the government published legislation that aimed to improve transparency over ownership of UK land property in 2022, it ignored the criticism of legal experts who had noted a loophole in the proposed rules. The House of Lords now proposes to plug this gap in the rules.
HMRC have issued their Agent Update for July 2023. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Finance (No. 2) Act 2023 received Royal Assent on 11 July 2023. On 20 July 2023, the Act in its final form was published in full.
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Legislation Day, or L Day, was last Tuesday. This is the day that the government publishes draft legislation for the next Finance Act. At first glance it all looked quite dull, but that changed upon closer inspection.
On 'L-Day', 18 July 2023, the government published draft legislation intended for the next Finance Bill, together with new consultations on future tax policy changes and there are also some new announcements. Further draft legislation is due next week.