Following representations from the CIOT and ATT, HMRC have amended their guidance with regards to the new online trust registration service requirements in respect of beneficiaries.
SME Tax News
HMRC have published new advisory fuel rates for company car drivers which will apply from 1 December 2017.
The new rates will be:
| Engine size | Petrol | Diesel | LPG |
| 1,400cc or less | 11p | 7p | |
| 1,600cc or less | 9p | ||
| 1,401cc - 2,000cc | 14p | 9p | |
| 1,601cc to 2,000.cc | 11p | ||
| Over 2,000cc. | 21p | 13p | 14p |
You can continue to use the old rates up to 31 December 2017, see Advisory fuel rates (company car drivers)
Related guides:
Company cars (subscribers only)
HMRC have issued a consultation document, 'VAT and Vouchers', which is the first step in the transposition of the EU Vouchers Directive 2016/1065, into UK VAT law.
In HMRC v Tottenham Hotspur Limited [2017] UKUT 0453 (TCC), the Upper Tribunal (UT) considered whether termination payments to two football players (Peter Crouch and Wilson Palacios on their transfer to Stoke) should be subject to tax and NIC as earnings “from an employment” rather than under the special rules.
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The chancellor, Philip Hammond presented his Autumn 2017 Budget on 22 November 2017. This summary covers his key new tax announcements.