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.
SME Tax News
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Happy New Tax Year and we welcome in the UK's newest tax, Sugar Tax.
Stamp Duty Land Tax (SDLT) does not apply to land transactions in Wales from 1 April 2018.
HMRC has advised that EU State Aid approval for the Enterprise Management Incentive (EMI) scheme expires on 6 April 2018 and whilst the government has applied to the European Commission for fresh approval, it will not be received before 6 April 2018.
In HMRC v Stephen West [2018] UKUT 0100 the Upper tribunal (UT) held that the director of an insolvent company was personally liable for PAYE and NICs on a bonus paid to clear his loan account before company went into liquidation.
In Sippchoice Limited v HMRC [2017] TC06378, the First Tier Tribunal (FTT) confirmed that a contribution ‘in specie’ paid into a SIPP in satisfaction of a monetary obligation amounted to a payment and so was allowable for Income Tax.
In MDCM v HMRC [2018] TC 6400 IR35 did not apply; MDCM’s contractual arrangements were such that its primary employee did not have to be treated as an employee of the ultimate contracting company, he was skilled and experienced and given autonomy in how he undertook his work.
HMRC have now published a response to their consultation ‘Large Business compliance – enhancing our risk assessment approach’.
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This time we feature end of tax year and new tax year planning guides and updates.
HMRC have published a call for evidence, ‘The role of platforms in ensuring tax compliance by their users’, which seeks information on how online platforms could be used to help users deal with their tax obligations.