The chancellor, Philip Hammond presented his Autumn 2017 Budget on 22 November 2017. These are our highlights of his live speech.
SME Tax News
HMRCs consultation, 'Draft legislation: The Income Tax (Pay As You Earn) Regulations 2017', in respect of car data reporting for payrolled benefits and changes to optional remuneration arrangements closed on 28 November 2017.
The Office of Tax Simplification (OTS) have published a review of VAT, 'Value added tax: routes to simplification'. The European Commission has also published an impact assessment on simplification.
In April 2019 all outstanding loans from disguised remuneration schemes will become subject to an income tax and NIC charge under part 7A ITEPA 2003.
In Barclays Wealth Trustees (Jersey) Limited and Michael Dreelan v HMRC [2017] EWCA Civ 1512 the Court of Appeal (CA) considered whether assets transferred between trusts could be excluded property.
Uber has lost its appeal to the Employment Appeal Tribunal (EAT) against the earlier decision of the Employment Tribunal (ET) to find that Uber drivers were workers for employment law purposes.
In William McAdam v HMRC [2017] TC05563 the First Tier tribunal denied a tax deduction for wages paid to a plumbers wife of £90 per week; the amounts were excessive for the work done and should be reduced.
In Merrie v HMRC [2017] TC016103 the tribunal upheld £95,112.79 in penalties for inaccuracies in a self-assessment return: the taxpayer misunderstood when he must declare the gain on the sale of his company.
It is reported that scammers pretending to be from HMRC, and chasing outstanding tax were very active in North Dorset yesterday.