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HMRC have provided details of the new timetable for Making VAT Digital (MVD), we have new Employer Bulletin and another Agent Update, plus much more.
SME Tax News
:The Making Tax Digital for VAT pilot opened on 16 October 2018. Businesses who now wish to trial the service can now do this via their own software.
In Robert, Adam and Dorothy Thornton Trading as A* Education v HMRC [2018] TC6742 an appeal against late filng penalties for three employment intermediaries returns was allowed: HMRC’s computer set the penalties instead of a named officer.
Following its Business Lifecycle report in April 2018, the Office of Tax Simplification (OTS) has published a call for evidence and online survey to seek views about tax as it impacts on businesses.
In Robert David Sidebottom and Jane Elizabeth Pickett v HMRC [2018] TC06724 the First Tier Tribunal (FTT) found that enhancement expenditure by a company on property owned by it’s shareholders was not deductible for capital gains tax; an irrecoverable directors loan to the company was not a reimbursement of the expenditure.
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HMRC have published their Employer Bulletin for October 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.
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We have a Private Client update this week: I definitely recommend that you read this if nothing else. However, we of course have our pick of interesting cases, and if you like VAT, then we are continuing our detailed look at land and property.
In Daarasp LLP And Betex LLP v HMRC [2018] TC06718 the First Tier tribunal refused £43million of capital allowance claims for software licences; the LLPs were not trading and even if they had been, the expenditure had not been incurred in the relevant accounting period.
In Hastings Insurance Services v HMRC [2018] TC06656 the FTT confirmed that the principle of open justice allows the public to access unpublished legal arguments used in a public Tribunal hearing even if you have no direct connection to the case.