In George Edwards Consulting Limited v HMRC [2018] TC06760, the First-Tier Tribunal (FTT) found that overpaying PAYE is no reasonable excuse for filing your late P35.
SME Tax News
The chancellor increased personal tax allowances for individuals and increased the Annual Investment Allowance however he also restricted the scope of several valuable tax reliefs, including Capital Gains tax (CGT) Entrepreneurs' Relief and Private Residence Relief and R & D as well as introducing the off-payroll working rules to medium and large companies in the private sector.
The House of Lords’ Economic Committee has published ‘Making Tax Digital for VAT: Treating Small Businesses Fairly’. It recommends a one year delay in Making VAT Digital (MVD) mandatory. Unconvinced of HMRC’s logic that MVD will result in fewer errors, it finds that the forced use of software will make life even more difficult for small business.
In Arron Banks v HMRC [2018] TC06768 the First Tier tribunal (FTT) denied exemption from IHT for gifts to a political party: UKIP did not meet the criteria as their MPs were not appointed at a general election.
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Brexit dominates the news headlines and it seems that one thing is certain: no one seems to know what's happening.
The 585 page Draft 'Brexit' Withdrawal Agreement includes transitional rules for the treatment of goods, and a ‘backstop’ to ensure the requirement for no north-south hard-border in Ireland will be maintained.
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.
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.