In David Sinclair v HMRC [2018] TC6873 an accountant's claim for post cessation trade relief in defending a negligence claim was partly allowed, his claim to have created a trust in order to fund the compensation potentially due failed on basic principles.
SME Tax News
The Law Society and ATT have again expressed concern that the draft legislation which extends the off-payroll working rules to the private sector fails to protect parties who are not at fault from secondary PAYE liabilities.
HMRC's latest Employment Related Securities Bulletin contains some handy tips. Here is our enhanced version.
In Alberto Nader, Alison Nader, Harold Dickins & Ors v HMRC [2019] TC06524 the First Tier Tribunal found that a series of transactions designed to reduce the deceased's estate by creating a loan to an offshore trust was ineffective in reducing the IHT due on her death.
The Financial Reporting Council (FRC)’s new chairman has promised faster implementation of the government-endorsed recommendations from last year’s ‘Independent Review of the Financial Reporting Council’. The review excoriated the current audit regime and recommended setting up the Audit, Reporting and Governance Authority (ARGA) .
The GAAR Advisory Panel has published an opinion on a number of schemes aiming at extraction of cash/value from a company by its directors/shareholders using Employee Shareholder shares and they conclude that the planning is unreasonable and therefore inconsistent with government tax policy.
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We have a new guide to company start-ups, a company update and lots more this time.
Switzerland is banning the issue of bearer shares by unlisted companies from 1 November 2019.