The Chancellor announced the following measures on raising standards in tax advice in his Spring 2023 Budget.
SME Tax News
How is a Prime Minister taxed? In the interests of transparency, Prime Minister Rishi Sunak has published details of his taxable income and chargeable gains for the last three years. We compare his income and gains to our tax guides, to see which ones will help him shave a quid or two off his tax adviser's fees for next year!
In Luca Delivery Limited v HMRC [2023] TC8752, the First Tier Tribunal (FTT) heard an appeal against a reclaim of a cash grant paid under the Coronavirus Job Retention Scheme (CJRS). It found that failure to meet the scheme conditions was due to a mistake by the taxpayer’s accountants and that was no defence. It did not allow the claim to be validated.
Spring Budget 2023 has seen the release of the summary of responses to the Audio-visual tax reliefs consultation. The Government will release draft legislation for stakeholder comment as part of L-day.
HM Treasury has published a summary of responses to its earlier call for evidence ‘Enterprise Management Incentives’. Feedback on the scheme was generally positive, but additional support for high-growth companies is proposed, along with administrative easements.
The Chancellor announced the following measures on Charitable reliefs in his Spring 2023 Budget.
HM Treasury has opened a new consultation on the Taxation of environmental land management and ecosystem service markets and the potential expansion of Agricultural Property Relief (APR).
The Chancellor announced the following measures for large corporates, including Transfer Pricing, top-up taxes, energy levies and REITs, in his Spring 2023 Budget.
Hello,
This week we have our take on yesterday's Budget, news of new consultations, updates on our toolkits and some more topical case updates.
HMRC have launched a new call for evidence ‘VAT energy saving materials relief, improving energy efficiency and reducing carbon emissions’. This examines adding electrical battery storage to the list of qualifying technologies and asks whether more technologies should be added. It also reinstates the relief to buildings used for a relevant charitable purpose.