Hello,
Research prepared for HMRC on the 'Impact of Making Tax Digital for VAT' seems to have been buried on HMRC’s website. Published in July 2021, it reveals something of a mixed picture regarding benefits that Making Tax Digital (MTD) for VAT can offer businesses.
HMRC have published a policy paper, 'Customer costs and benefits for the next phases of Making Tax Digital'. The paper assesses the costs involved with the next phases of transitioning across to Making Tax Digital (MTD) for both VAT and Self Assessment as well as ongoing annual costs.
Research prepared for HMRC on the 'Impact of Making Tax Digital for VAT' reveals a mixed picture regarding the benefits that Making Tax Digital (MTD) for VAT can offer businesses. It seems that if you really want to ensure accuracy in your VAT reporting you need to engage an accountant and use fully functional software.
The government has published its response to the 2016 consultation ‘Tips, gratuities, cover and service charges’ which set out proposals to make tipping fairer.
In Dukeries Healthcare Ltd and Ors v Bay Trust International Ltd, HMRC and Ors [2021] EWHC 2086 (Ch), the High Court dismissed claims to set aside Remuneration Trust arrangements using the equitable doctrine of mistake. There was insufficient evidence of serious mistake and the claimants had accepted the risk the schemes would fail.
The Scottish Parliament has announced that its 2021 Budget will be held on Thursday 9 December 2021. This will set the Budget and spending plans for Scotland for 2022-23.
Hello,
The introduction of Making Tax Digital for Income Tax (MTD for ITSA) for individuals has been postponed yet again. It will now commence on 6 April 2024. General partnerships will not be mandated to join until 2025. The date at which all other types of partnerships will be required to join will be confirmed later. The Financial Secretary to the Treasury, Lucy Frazer, made the announcement to parliament this morning.
The government has opened a new consultation ‘Making flexible working the default unless employers have good reasons not to’ which seeks views on proposals to reform flexible working regulations as part of their ‘Build Back Better’ approach to dealing with the COVID-19 pandemic.
The government has published draft legislation for the Residential Property Developer Tax. The legislation will be open for technical consultation until 15 October 2021.
The Institute of Fiscal Studies (IFS) has published 'The tax tribunals: the next ten years'. A review the past ten years of operations of the First Tier Tribunal (FTT) reveals that there is still a backlog of cases which is caused by staff shortages and a lack of judge's time.