HMRC have published their tax avoidance litigation decision results for 2017 to 2018 which show 23 cases won by HMRC, none lost and one mixed result.
SME Tax News
HMRC has published a policy paper, ‘Capital Gains Tax payment window for residential property gains’ alongside its response to an earlier consultation on requiring taxpayers who dispose of residential property to pay tax on the capital gain within 30 days.
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We have a draft Finance Bill for 2019 and some interesting changes coming up.
HMRC has published draft legislation to extend the non-resident capital gains to all UK property and moving non-resident companies into corporation tax on those gains.
HMRC has published draft legislation that will extend the discovery time limits for assessment of offshore income and gains.
HMRC has published a response to its consultation ‘Tax Avoidance involving Profit Fragmentation’ together with draft legislation included in the Draft Finance Bill 2019.
The draft Finance Bill 2019 was published on 6 July 2018 together with various policy papers and summaries of responses to earlier consultations.
HMRC have opened a consultation: 'Amending HMRC’s Civil Information Powers' explores the efficiencies of HMRC’s civil information powers and considers possible improvements to make things easier for HMRC to obtain certain types of information and to charge higher penalties for non compliance.
In The Personal Representatives of Grace Joyce Graham (deceased) v HMRC [2018] TC06536 the First Tier tribunal (FTT) agreed that Business Property Relief (BPR) applied to a holiday lettings business; the level of services provided were just enough for it to fall on the “mainly non-investment” side of the line.
HMRC has published ‘Allowing Entrepreneurs’ Relief on gains before dilution: consultation response’ alongside draft legislation which will ensure shareholders retain ER when a company ceases to be a personal company due to a fundraise.