HMRC's latest Employment-Related Securities Bulletin contains some handy tips. Here is our enhanced version.
SME Tax News
In Richard Villar v HMRC [2018] TC 6983 the FTT held that the sale of the business of an orthopaedic surgeon was a disposal of capital and not merely of a right to income.
Perhaps the one thing that everyone can agree on is that Brexit has become a national crisis and an embarrassment to us Brits. Nichola Ross Martin suggests a way out of the log jam.
Draft legislation has been published for the new Structures and Buildings Allowance which differs from the original proposals announced in October 2018.
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Some more interesting news on the 'disguised remuneration' loan charge this week. It turns out that one of the major promoters of self employed disguised schemes did not notify the schemes under DOTAS. By co-incidence, there is a growing realisation that HMRC's estimates that only some 50,000 people are affected by the coming loan charge may be woefully low.
In HMRC v Hyrax Resourcing Limited & Bosley Park Limited & Peak Performance Head Office Services Limited [2019] TC07025 the First Tier Tribunal (FTT) found that a contractor loan scheme should have been notified under the Disclosure of Tax Avoidance Schemes (DOTAS) regulations.
In Karl Higginbottom, Karl Critchley & Michael Lyon v HMRC [2019] TC6521 three employed workers were unsuccessful in claiming tax relief on for the costs of laundry and personal hygiene. They were unable to prove how much they had spent and whether the costs were incurred in performance of their duties as employees.
MP’s are claiming that HMRC’s estimate of the number of healthcare professionals who will be affected by the upcoming loan charge is too low.
The government has a launched a consultation “Protecting your taxes in insolvency” which looks at making HMRC a secondary preferential creditor for certain tax debts on the insolvency of a business. It closed on 27 May 2019.
A cross party group of MPs have submitted a new clause to amend the Sanctions and Anti-Money Laundering Act 2018 to ensure that the British Crown Dependencies of Guernsey, the Isle of Man and Jersey, all introduce publicly accessible registers of the beneficial ownership of companies within their jurisdiction no later than 31 December 2020. The government is accused of trying to delay its proposed measures ahead of a no-deal Brexit.