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This time we look at what happens if you do not declare your ebay account, and we consider more topical cases on the Higher Income Child Benefit charge, whether an introducer commission paid can be an unauthorised payment out of a pension fund and why and when HMRC can try and assess these things.
In David Lau v HMRC [2018] TC6463 the FTT decided not to follow the Robertson decision and decided that penalties did apply for failure to notify the HICBC on the basis that potential lost revenue is not confined to assessments. Ignorance of the law on the HICBC was not considered a reasonable excuse.
The Department for Business, Energy & Industrial Strategy (BEIS) has issued a new consultation looking at the misuse of limited partnerships and reforming the law in this area.
The European Commission approved the UK's 'Enterprise Management Initiative' (sic) scheme under EU State aid rules. The EMI rules lapsed in April and employers had been urged not to grant any further EMI options until approval was reconfirmed.
In Andrew Monaghan v HMRC [2018] TC06408, a commission received by a pension scheme's member was not a pensions unauthorised payment and in any case, the legislation did not permit HMRC to make a discovery assessment.
The childcare voucher scheme was due to close to new entrants in April 2018; in March the deadline was extended, but some employers had already closed schemes to new entrants and the tax-free status of those schemes was lost.
In Patel & Anor v HMRC [2018] TC 6426 the FTT found that HMRC could not open valid enquiries into returns which had been submitted voluntarily without any notice to file being issued.
Hello
This time we have a bit of a mix for you. We are introducing the first of a set of new guides on different trade, professions and vocations. Today, we have the formal launch of our Disguised Remuneration Zone and updated guides for companies and their owners. Plus our pick of topical SME case law.
The Treasury Committee has launched a call for evidence in respect of four areas: VAT and the tax gap, VAT and Brexit, VAT and business and VAT and good tax policy.
In Dundas Heritable v HMRC [2017] TC6476, the First Tier Tribunal (FTT) found on technical analysis, that Paragraph 82 Schedule 18 FA 1998 gives an unexpected result: the taxpayer is given the chance to make a late claim for capital allowances once HMRC has opened an enquiry into the relevant return.