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.
SME Tax News
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.
HMRC have announced that taxpayers who do not file their 2019-20 tax return by 31 January 2021 will not receive a late filing penalty if they file by 28 February 2021.
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This time we have been looking at an ever more diverse range of topical tax, from Freeports to free and subsidised staff lunches, from legal tax avoidance to tax enquiries.
HMRC have just published their Stamp Taxes news for January 2021. This is our enhanced version.