The first draft of Finance Bill 2020 has been published. The bill includes a number of measures previously announced at Budget 2018 and the recent Spring Statement and intended to take effect from April 2020, including:
SME Tax News
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The week: Self Assessment payment on accounts may be being calculated incorrectly, IR35 back in the tribunal, devolved tax penalties trip up, quasi directors and penalties and much more.
There have been problems with the self-assessment system and payments on account for 2018/19 which may result in some taxpayers facing larger than usual tax bills in January 2020.
In George Mantides Ltd v HMRC [2019] TC07202 the FTT reviewed the services of a hospital locum for the purposes IR35 and decided on a different outcome for each of two hospital contracts.
In Michael Robert Harrison and Sharon Ross v Revenue Scotland [2019] FTSTC 5 the Scottish tribunal again allowed an appeal against daily penalties for late filed LBTT returns; the law on penalties was not complied with.
In Mohammed Abdul Malik v HMRC [2019] TC07198 the FTT upheld a personal liability notice for VAT penalties issued to a company employee; he was a manager therefore an officer of the company.
In Begbies Traynor (Central) LLP v Revenue Scotland [2019] FTSTC 4 the Scottish First tier tribunal allowed an appeal against penalties for a late LBTT return; Revenue Scotland had not met the legal conditions to permit them to charge daily penalties.
Following this year’s spring statement HMRC published its updated strategy on tackling offshore tax compliance, ‘No Safe Havens 2019’ which extended it’s 2014 aims by targeting offshore avoidance as well as evasion.
Missed our SME Tax Web-updates in June? Here is a summary of the month.
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We thought that it was looking quiet on the news front this week, however, there are one or two really useful things, so do read on.