In Dieno George v HMRC [2018] TC6678 an employer's procrastination in changing its chief executive's non-voting shares into voting shares scuppered his claim for Entrepreneurs' Relief on disposal of the business. Equity could not prevail to alter the CGT rules.
SME Tax News
In Alexander Steele v HMRC [2018] TC06717, the First-Tier Tribunal (FTT) cancelled HMRC’s late filing penalties relating to 13/14, 14/15, and 15/16. There was no legal requirement to notify HMRC of a change of address and no legal requirement to file a return just because he was a Director.
In Rajendrakumar Patel v HMRC [2018] T6735 the FTT granted an application for a closure notice. A self assessment enquiry into goodwill and licence fees had drifted on aimlessly and HMRC acknowledged that they were not able to raise an assessment on the taxpayer under review.
The Office of Tax Simplification (OTS) has undertaken a review of taxpayer guidance which complements a separate review currently being undertaken by HMRC on the structure and content of its 219 manuals.
In HMRC v A taxpayer (ex parte) [2018] TC06710 the First Tier Tribunal (FTT) did not approve a third party notice under schedule 36; the recipient was the taxpayers’ auditor who also prepared their corporation tax returns and the protection for audit papers applied.
HMRC have issued the Agent Update for October/November 2018. We have summarised the key content for you with links to our detailed guidance on the topics covered. We have kept to HMRC's order of contents, it's not all 'SME', but read on, there’s some interesting items.
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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.
: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.