The Office for Tax Simplification (OTS) has published 'Third-party data reporting review - call for evidence'. It wants to hear from individuals, their agents and potential third-party data providers about how tax can be made easier through the better use of third-party data.
SME Tax News
Scottish Finance Secretary Kate Forbes announced the draft Budget for 2021-22 on 28 January 2021.
Hello
This week kicked off with the welcome news that HMRC is relaxing late filing penalties for Self Assessment this year and we end the week with two HMRC Brexit ‘Specials’. What a 'funny' old month January has been.
HMRC have issued a Brexit edition Agent Update for January 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Companies House has temporarily paused the voluntary and compulsory strike-off processes for one month from 21 January until 21 February 2021.
HMRC have published a UK Transition Special Employer Bulletin. We summarise the key content for you.
In Michael Bentley v HMRC [2021] TC7989, an IT consultant failed to persuade the First Tier Tax Tribunal (FTT) that he was incapable of understanding the consequences of failing to act on a Follower Notice (FN). He was a literate thinking man and HMRC had told him in clear and categorical terms what was required of him following service of the FNs.
In Conservatory Roofing Systems Limited (CRSL) v HMRC [2020] TC07976, First Tier Tribunal (FTT) found that supplies of composite insulated roofing system are not the ‘installation of insulation’ and are not subject to VAT at the reduced rate.
In Leisure Parks Real Estate Limited v HMRC [2020] TC07974, the First Tier Tribunal (FTT) found that a company did not have a reasonable excuse for filing its Corporation Tax return late simply because HMRC cancelled a penalty charged to a sister company in similar circumstances.
In Brocklesby v HMRC [2020] TC07970, the First Tier Tribunal (FTT) upheld the appeal against late filing penalties by a low-income taxpayer: HMRC's misleading advice and internal delays contributed to the amount of penalties incurred.