Hello
This time we have important news on penalty assessments and PAYE coding, a completely updated guide to Making VAT Digital (MVD) and lots more.
SME Tax News
In Colin Rodgers v HMRC [2018] TC06617, the First-Tier Tribunal (FTT) dismissed the tax advisors appeal against a Conduct Notice issued for assisting a client create false purchase invoices.
Now that 2017/18 tax returns are starting to be filed, the ICAEW have reported problems between in-year adjustments and self-assessment making the process look less than dynamic.
In Jamie White v HMRC [2018] UTUK 0087 the Upper Tribunal (UT) denied income tax relief on irrecoverable loans to a trading company; they were capital in nature and not wholly and exclusively for the taxpayers trade.
In Hannah Armstrong v HMRC [2018] TC06606 a late penalty appeal was allowed and late filing penalties quashed by the First Tier Tribunal (FTT); HMRC's penalty notices and notices to file sent electronically did not meet all of the conditions for electronic communication so were not validly delivered.
HMRC have issued the Agent Update for August/September 2018. We have summarised the key content for you with links to our detailed guidance on the topics covered. We've kept to HMRC's order of contents, it's not very 'SME' at first, but read on, it warms up.
On 13 July 2018 the Chancellor wrote and asked the Office of Tax Simplification (OTS) to carry out a further review of the small business lifecycle.
HMRC have published their Employer Bulletin for August 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.
Hello
We have a 'fun-packed' edition for you this week, lots of interesting cases, the new Employer Bulletin and a bunch of updated guides.