The Welsh government has proposed a “Vacant Land Tax” (VLT) aimed at land where planning permission has been granted, or that is within a local development plan, but no work has been carried out. The objective is to incentivise companies to build rather than hoarding land to increase its value.
SME Tax News
In DJ Wood v HMRC [2018] TC06339, the First Tier Tribunal (FTT) found that a return was unsolicited so late filing penalties could not apply.
In Alan Jackson v HMRC [2018] TC06329, the First Tier Tribunal (FTT) again considered the question of whether a non-UK resident could be expected to know about the Non-Resident CGT regime. In this case, the answer was yes but the penalties were reduced to £100.
In Christa Ackroyd Media Limited v HMRC [2018] TC06334, the First tier tribunal (FTT) held that a BBC television presenter was caught by the IR35 regulations.
The government has opened a new consultation 'Enforcement of Employment Rights Recommendations'. This looks at simplifying the enforcement action by HMRC and tribunals against non-compliant employers and toughening sanctions applied.
The government has opened a 'Consultation on Measures to Increase Transparency in the UK Labour Market'. This consultation looks at transparency and employment contracts for the employee or worker.
HMRC have confirmed that employer’s can continue to recover VAT on pension scheme administration. This follows previous expectation VAT would not be recoverable from 1 January 2018.
As announced in the 2017 Autumn budget, a new consultation has been opened in respect of the Corporate Intangible Fixed Assets regime.
HMRC have extended the deadline for claiming reimbursed Research and Development (R&D) expenses to 30 April 2018.
HMRC have published their Employer Bulletin for February 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.