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.
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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).
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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.
In Mr W Augustine v Data Cars Ltd: EA-2020-000383-AT, the Employment Appeal Tribunal (EAT) held that in calculating the National Minimum Wage of a cab driver deductions could be made for the vehicle and uniform rental costs. They were incurred in connection with his employment.
HMRC have issued their Agent Update for November 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.
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This week we have a guide to the Plastic Packaging Tax; according to the policy background to this new tax, it aims to provide a “clear” economic incentive for businesses to use recycled plastic in the manufacture of plastic packaging. Whether this tax is going to make any difference to the vast amount of plastic that is created on a daily basis remains to be seen. At this stage it's one small step in the right direction.