Hello
We have another fun-packed web-update this week. Some good cases: capital allowances, company cars and EBT discovery. There is also the Employer and Agent update and our ideas for tax simplification.
SME Tax News
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The new chancellor Sajid Javid has said that he will simplify the tax system in his first budget. Yes, Minister! We have all heard all this before and there is even an Office of Tax Simplification to prove it.
The paradox for all chancellors in the task of simplifications is that it will result in some losers and not just winners and no chancellor will want to risk unpopularity.
In Aegis Vision Limited and Sanjay Agarwal [2019] TC7038 the provision of a chauffeur and car was a taxable benefit despite some efforts to ensure that the chauffeur was self employed and providing car services in that capacity.
In Cheshire Cavity Storage 1 Limited -and- EDF Energy (Gas Storage Hole House) Limited v HMRC [2019] TC07301 the FTT dismissed claims to capital allowances on underground gas storage cavities. They were not plant and machinery.
HMRC have published their Employer Bulletin for August 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Stephen Hoey v HMRC [2019] TC07292, the First Tier Tribunal (FTT) held that discovery assessments on EBT loans that had been disclosed by the taxpayer were valid and HMRC could decide to transfer the tax due from the employer to the employee.
HMRC have issued the Agent Update for August/September 2019. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Hello
We are trying to keep it light this week as so many folk are away on their holidays. We do feature a really interesting VAT case which is also useful if you are one of many of those advisers who ask what can my employment agency client do to remain more competitive?
Our list of ten surprising effects of the uncertainty being caused by Brexit.