The Scottish government has opened a consultation into providing relief to First time buyers from Land and Buildings Transaction tax (LBTT).
SME Tax News
As part of their response to the 2017 Taylor Review of Modern Working Practices the government has opened a new consultation into Employment Status.
The government has published “Good work”, its response to the The Taylor Review of Modern Working Practices. which aimed ‘to improve the lives of this country’s citizens’ together with four new consultations covering the employment and the labour market.
In HMRC v Raymond Tooth [2018] UKUT 0038 (TCC), the Upper Tribunal (UT) decided that the extended discovery time limit for deliberate error did not apply and also, there was no discovery. Spoiler alert: this case was appealed on by HMRC to the Supreme Court who agreed on the time limit but disagreed on the staleness point.
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This week we are featuring residency and domicile as we are fielding so many queries in these areas following the changes to non-domicile taxation and the new CGT regimes.
HMRC have published the Summary of Responses to Extra Statutory Concessions – Eighth Technical Consultation on Draft Legislation, which addressed four extra-statutory concessions (ESC) and ran until 9 December 2017.
In Maersk Oil North Sea UK Limited and Maersk Oil UK Limited v HMRC [2018] TC06295, the First Tier Tax Tribunal (FTT) held that an allocation of profits within a period had simply to be made on a just and reasonable basis: the existence of a better method was not sufficient reason to displace it.
Andrew Griffiths , the Parliamentary Under Secretary of State for Business, Energy and Industrial Strategy (BEIS) has confirmed that the government will establish a public register of beneficial owners of non-UK entities that own or buy UK property, or which participate in UK Government procurement.