HMRC have published a new third-party research report on "The Role of Professional Bodies in the regulation of Tax Agents".
SME Tax News
HM Treasury have launched a consultation “Transposition of the Fifth Money Laundering Directive”, which could increase the number of trusts that need to be registered with the Trust Registration Service (TRS) to over a million.
Many taxpayers are still unable to file their Self Assessment returns for the year ending 5 April 2019 online due to software specification issues from HMRC. If your case is on the list you cannot file online and must complete a paper tax return. Don't forget that it needs an actual signature.
In his inaugural speech as new president of the Chartered Institute of Taxation (CIOT), Glyn Fullelove has sent a clear message to CTAs, “there is no place for any tax advisers who promote avoidance schemes in the CIOT. If there are still members who seek to develop and promote such schemes, I have a simple message – this is not the body for you."
Hello
We are publishing early this week. There are some rather interesting developments from the courts, we have our latest Land and Property update, more 'CPD for lunch' and more Spotlights from HMRC.
In Anthony and Tracy Lee Hancock v HMRC [2019] UKSC 24 the Supreme Court held that that the conversion of QCBs and non-QCBs into a single new QCB were two separate conversions: tax was due on redemption.
HMRC have released two more opinions in their favour from the GAAR advisory panel (GAP) in quick succession; about disguised remuneration, loans to participators, and employee rewards using second hand bonds and gilt options.
HM Treasury have opened a new call for evidence on Social Investment Tax Relief as take up has been poor and the the relief is currently due to end in 2021.
In Hopscotch Limited v HMRC [2019] TC07127 the FTT found that the redevelopment of a single house in order to sell it was not a property development trade; no ATED relief was due.