In Patsy-Anne Saunders v HMRC [2017] TC6173: an appeal against penalties for late filing of a Non-Resident's CGT return upheld on the basis that ignorance of this piece of tax law is a reasonable excuse.
SME Tax News
Hello
The top story this week has to be that the Supreme Court has saved the taxpayer £17billion. The other exciting thing is that we have a Directors' Tax Update special for you.
Government statistics have revealed the number of companies and amount of funding raised under EIS, SEIS and through Social Investment Tax Relief.
Hello
We are rather top heavy on cases this time, however they are all freeview, so read on. One that really caught my eye is Power Adhesives. The High Court applied 'the Hastings Bass principle' (that allows the correction of a fiduciary's mistake) to a company's board's decision to allow a director's loan to be converted into shares.
HMRC have published their Employer Bulletin for October 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Alan Twaite v HMRC TC06033, the First Tier Tribunal (FTT) considered whether reliance on an adviser was a reasonable excuse for late notification of enhanced protection for a pension scheme.
In HMRC v Root2 Tax Ltd [2017] TC 06115, the First Tier Tribunal (FTT) found that an employee reward scheme did meet the criteria for disclosure under DOTAS and should have been disclosed by the promoters.
In Innovate Commissioning Services Limited v HMRC [2017] TC 06152, the First Tier Tribunal (FTT) followed the precedent in X-Wind Power to deny SEIS relief where the incorrect forms were filed.