HM Treasury have opened a new Call for Evidence, ‘Umbrella Company Market’ inviting views on the role that umbrella companies play in the labour market, and how they interact with tax and employment rights. It sets out concerns raised by stakeholders, as well as government action already taken to tackle tax non-compliance and improve protection for workers.
SME Tax News
HMRC have released a call for evidence, 'Income Tax Self Assessment (ITSA) registration for the self-employed and landlords'. It seeks views on the case for reforming the registration process for ITSA for individuals with those sources of income.
The Treasury has responded to the Office of Tax Simplification's (OTS) reports on Inheritance Tax (IHT) and Capital Gains Tax (CGT). Some of the OTS's recommendations will be implemented while others have been rejected.
HMRC have issued a warning for Christmas shoppers to be aware of potential customs charges arising on certain goods purchased and imported from the EU due to changes that came into effect on 1 January 2021 when the Brexit transition period ended.
In Wendy Carrington v HMRC EWCA Civ 1724, the Court of Appeal (CA) found EU law did not cause the entitlement to UK Child Benefit to remain after the taxpayer ceased to be UK resident.
It is inevitable: not every business that has taken a COVID-19 bounce back loan will manage to ‘bounce back’, some taxpayers who deferred payments of Income Tax & VAT will remain in default and, some people took fast and easy government loan finance with no plans to ever repay it. Coronavirus has left the UK, like many other nations, with a massive debt legacy. Parliament is currently pursuing the issues via the House of Commons Public Accounts Committee (PAC).
Hello,
You may have thought that the Autumn Budget was a bit dull, but this week we aim to brighten up your professional life with some really useful new tax guides.
In Mark Dunsby v HMRC [2021] UKUT 0289, the Upper Tribunal (UT) found that dividends paid through a trust under a scheme to transfer tax-free cash to a company owner were still taxable on the owner. They would also be caught by the Settlements and Transfer of Assets Abroad anti-avoidance rules.
HMRC have released a paper entitled 'Research and analysis: Responsiveness of commercial transactions to Stamp Duty Land Tax (SDLT)'. This paper evaluates the impact that changes to the SDLT rates has on non-residential transactions.
HMRC have published new advisory fuel rates for company car drivers which apply from 1 December 2021.