At Budget 2018 the chancellor announced the introduction of a new Structures and Buildings Allowance (SBA) for the construction costs of non-residential structures and buildings.
SME Tax News
HMRC's latest Employment Related Securities (ERS) Bulletin contains some handy tips. Here is our enhanced version.
In Vasco Properties Ltd v HMRC [2018] TC06801 the First Tier tribunal allowed an appeal against RTI late filing penalties; HMRC failed to show that the returns were late.
The government has announced plans to resurrect the new probate fee banding structure proposed in 2017.
In Champions Fun Learning Centre v HMRC [2018] TC06685, a charity wrongly claimed Gift Aid on membership fees. HMRC raised assessments for tax and penalties however the FTT found that these were all invalidly issued and so allowed the charity's appeal against tax due and penalties.
HMRC have published ‘Tax abuse and insolvency: A discussion document – summary of responses’ confirming that legislation will be introduced to protect against loss of revenue for HMRC in insolvency cases.
HMRC have published ‘Review of the corporate Intangible Fixed Assets regime: summary of responses’, which contains detailed proposals for partial reinstatement of relief for goodwill acquisitions.
HMRC have published ‘Digital services tax: consultation’, regarding the design and implementation of the new tax.
HMRC have published ‘Corporate Capital Loss Restriction: Consultation on delivery’ looking at proposals to restrict the use of carried forward capital losses for companies.
Hello
This week we take a closer look at the Budget announcements affecting Personal Service Companies (PSC), we have a VAT update and for some reason we all decided to report IHT cases.