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.
SME Tax News
HMRC have published the results of a number of its different research projects. They all look at digital services, in particular the public's perception of the Personal Tax Account (PTAs), Digital Tax Account (DTA) and attitudes to digital contact in general.
How many people are employed in the UK? It's a good question, and Pay As You Earn (PAYE) is the biggest source of tax revenue its useful for setting the nations tax budget. According to HMRC'snewly published Experimental Statistics it is just under 33 million in 2017-18.
In Maurice and Shirley Bell v HMRC [2018] TC06575 taxpayers were unsuccessful claiming CGT roll over relief under s152 TCGA 1992 on the disposal of a farmhouse constructed on their farmland for their son. The building was not used only for the trade.
In Patricia Lam v HMRC [2018] TC6540 a taxpayer found that the fact that you stay a few nights in your property in a sleeping bag is unlikely to convince a tax tribunal that a property is your only or main residence.
HMRC has published partially completed details of a privacy impact assessment for the use of Voice Biometric Identification (Voice ID) technology. This aims to help reduce fraud and it seems entirely probable that it will be used in future, if HMRC manage more fully automated services.
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We have summarised the new VAT notice 700/22 on Making VAT Digital (MVD) for you and we have also made an update of our Making Tax Digital (MTD) index. All essential reading and freeview this time.
HMRC have published a policy paper, ‘Simplification of donor benefits rules for Gift Aid’ alongside Finance Bill draft legislation and a consultation response summary in respect of the proposed changes to the donor benefit rules.
HMRC have issued updated guidance on the Requirement to Correct (RTC) legislation which sets out the different levels of mitigation for penalties for failure to correct and extends the deadline by 90 days in some circumstances.
Finance Bill 2019 contains measures to move UK property income for non-resident companies from income tax to corporation tax and HMRC has published a policy paper, ‘Corporation Tax: UK property income of non-UK resident companies’.