The Scottish Parliament has announced that its Draft Budget 2019/20 will be published on 12 December 2018.
SME Tax News
The European Commission have approved the continued use of the UK's VAT fuel scale charge adjustment for private use of cars until 31 December 2020.
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An interesting take on ADR and a look at take-aways and HMRC best judgement assessments this week, the close company case is overturned and the Budget is set for October.
In 2017-18 companies paid the highest amount of Corporation Tax ever with receipts topping £56bn.
In William Reeves v HMRC [2018] UKUT 293, the Upper Tribunal (UT) found that a non-resident taxpayer can gift a UK trading asset to a UK company he owns and claim holdover relief.
The government has announced plans to introduce a Stamp Duty Land Tax (SDLT) surcharge for foreign buyers of UK property.
In The Serpentine Trust Ltd v HMRC [2018] TC06719 the First Tier Tribunal (FTT) held that an agreement reached with HMRC under Alternative Dispute Resolution was ultra vires; it was contrary to the law and unenforceable by the taxpayer.
The Chancellor has announced that the 2018 Budget will be held on Monday 29 October 2018. As announced in 2016, Budgets are now delivered in the Autumn with a spring statement taking place in March each year.
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This time: interesting stats on R & D and Patent Box relief, more conundrums on late filing tax penalties and much more.
HMRC have released their latest statistics on Research & Development (R & D) tax relief. Of the 39,960 claims so far received for 2016-17, 34,060 are for the SME scheme and 5,900 in the RDEC scheme.