Hello
This time, I recommend you have a speed read of the items in our 'Being Digital' section. Even if you don't like a conspiracy you will shudder at some of the findings in the Common's Culture, Media and Sports committee. MPs also recommend further education on the 'dark ways' of social media, and so I have created a FAQs on what happens to your data.
The independent Office of Tax Simplification (OTS) have published a paper 'Platforms, the Platform economy and Tax Simplification' this considers the case for a new tax deduction system for workers who provide their services via online platforms. A key suggestion being, that platforms could deduct tax at source.
The government have issued draft legislation for consultation on the creation of a register of beneficial owners of overseas entities owning UK property intended to take effect from 2021.
In C J Wildbirds Food Ltd v HMRC [2018] TC06556 the First Tier tribunal agreed that a loan which could not be repaid and was written off by the lender was a loan relationship and a deduction was allowed for the impairment debit.
The Low Incomes Tax Reform Group (LITRG) is urging people to contact HMRC if they have missed the 31 July 2018 tax credits renewals deadline. The sooner you contact HMRC then the sooner they can get their tax credit payments re-started, If you are lucky, you might catch HMRC in time to renew before your payments are stopped.
HMRC have released more statistics showing the number of non-UK domiciled taxpayers and the amount of UK tax they have paid; based on their estimates the number of non-doms in the UK decreased by 24% for 2016/17 compared to the previous year.
Doing Social Media? What's Fake News? Should I still do surveys? What happens if I like your post? What happens if I share your post? Is my news feed real? FAQs answered on data mining, social media and generally being savvy about what you do on the net.
Are the major social media platforms nurturing malignant and dark forces that aim to disrupt our democracy? Quite possibly, according to the findings of the House of Commons select committee for Culture, Media and Sports in its Interim report, ‘Disinformation and ‘fake news’’.
In Tager & Anor v HMRC [2018] EWCA Civ 1727 the Court of Appeal reduced tax-related penalties imposed by the Upper Tribunal for failure to provide information from £1,075,210 to £220,000.
Hello
I have been reading over a few of HMRC's research findings this week and some of the results must be pretty shocking for them.