HMRC have published their Employer Bulletin for December 2022. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
SME Tax News
HMRC have confirmed that interest charges showing on employers' online Business Tax Accounts, where direct debits have been collected after the due date, are correct, but are cancelled on the same day once the payment is processed.
The Government has released its response to the Consultation on 'Making Flexible Working the Default'. There was widespread support for the proposals and the Government will take further steps to encourage and support flexible working.
Are you missing out? Browsers, e.g. Chrome, Edge and Firefox all 'cache' data on the sites that you visit, this enables them to load up the site pages faster when you visit those sites again. The downside of caching is that it means that you will not always see the latest page on a website, particularly when a site's images change. Sites like www.rossmartin.co.uk often display different headers to celebrate holidays and seasons, we change ours for fun: because we can!
In Apollinaire Ltd and Zakir Hashmi v HMRC [2022] TC08648, the First Tier Tribunal (FTT) found that a director with a track record of phoenixing businesses and late filing tax returns had deliberately overstated his company input VAT. HMRC assessed the director to the company's VAT penalties via a Personal Liability Notice.
In Urenco Chemplants Limited and Urenco UK Limited v HMRC [2022] EWCA Civ 1587, the Court of Appeal (CoA) found that the Upper Tribunal had erred in law when setting aside an earlier decision on whether certain expenditure on a nuclear deconversion facility qualified for capital allowances.
In Kwik-Fit Group Limited & Ors v HMRC [2022] UKUT 00314, the Upper Tribunal (UT) held that restructuring loans to utilise trapped Non-Trading Loan Relationship Deficits (NTLRDs) and obtain greater deductions for the debtors did count as securing a tax advantage, meaning the loans had an unallowable purpose.
In Gek Siu Ng v HMRC [2022] TC08651, the First Tier Tribunal (FTT) dismissed Ms Ng's appeal to allow late payments of voluntary Class 3 NICs as the payment was a result of her own failure to exercise due care and diligence.
Missed our SME Tax Web-updates in November? Here is a summary of the month.
In Peter Gould v HMRC [2022] TC08647, the First Tier Tribunal (FTT) found an interim dividend paid to two shareholders on different dates was taxable on the dates of payment not the earlier date of declaration. The result was that the dividend was taxed in different tax years for each shareholder.