Following the introduction by Finance Act (No2) 2017 of the disguised remuneration loan charge with effect from 6 April 2019, HMRC have issued guidance on how to make an application to postpone the charge.
SME Tax News
Happy New Year.
We start the year with Agent and Employer updates and consultations from HMRC.
Wishing a Prosperous New Year to all our subscribers and readers.
The research and development expenditure credit (RDEC) for qualifying Research and Development (R&D) will increase from 11% to 12% for qualifying expenditure incurred on or after 1 January 2018.
The Chancellor of the Exchequer has announced that the first Spring statement where the government will respond to the forecast from the Office for Budget Responsibility (OBR), will be held on Tuesday 13 March 2018.
In Towers Watson Limited v HMRC [2017] TC06241, the First Tier Tribunal (FTT) decided HMRC could not raise matters not covered in their closure notice in response to the taxpayer’s appeal.
The OECD have published a new consultation “Mandatory Disclosure Rules for Addressing CRS Avoidance Arrangements and Offshore Structures”, it considers whether additional reporting requirements will reduce cross border tax evasion.
In HMRC v English Holdings (BVI) Limited [2017] UKUT 0842 TCC, the Upper Tribunal (UT) concluded that losses subject to corporation tax could be set against profits subject to income tax.