SME Tax News

In Aria Technology Ltd v HMRC and Situation Publishing Ltd as a third party [2018] UKUT 0111 it was decided that a copies of tax appeal notice and the respondents response could be made available by the tribunal to a third party under the principle of open justice.

In Grand UK Limited & others v HMRC [2018] UKUT 0096 the Upper Tribunal confirmed a dispute as to was the actual employer for PAYE. Was it the person who appeared to be the employer, or the person who actually paid the wages?

HMRC have opened a consultation “ Tax abuse and insolvency” focussing on the exploitation of the insolvency procedures to avoid or evade taxes.

HMRC have published their Employer Bulletin for April 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.

In HMRC v Investec Asset Finance [2018] UKUT 0069 the Upper Tribunal agreed that the costs of capital contributions in relation to the acquisition of partnerships were revenue not capital but found they were still not allowable: the expenditure was not solely for the purposes of Investec’s own trade.

In Hargreaves Lansdown Asset Management v HMRC [2017] TC6368 the First Tier Tribunal (FTT) agreed that loyalty bonuses paid to investors were not annual payments; tax did not have to be deducted at source.

A new consultation has been opened “Tax avoidance involving profit fragmentation” which sets out proposals to tackle tax avoidance schemes which move UK profits outside the UK tax charge.

HMRC have published a new consultation “Capital Gains Tax: Payment window for residential property gains” which looks at reducing the CGT payment time for residential property to 30 days from April 2020.