Following the introduction of the Trust Registration Service (TRS) in 2017, HMRC have issued more guidance about how to deal with existing trusts, access for agents who cannot use the online system and 2016/17 tax returns for new trusts.
SME Tax News
Wales will introduce the Land Transaction Tax (LTT), its own version of Stamp Duty Land Tax (SDLT), in April 2018 but the lower threshold for the tax has already been reduced by the Welsh Government.
HMRC has published a summary of responses to ‘Fraud on provision of labour in the construction sector: consultation on VAT and other policy options’. It includes details of a new domestic reverse charge.
Hello
It's been a busy start to the new year and with tax return season in full swing. We hope you will find our 2016/17 tax return toolkit really useful.
Wishing a Prosperous New Year to all our subscribers and readers.
Following the introduction by Finance Act (No2) 2017 of the disguised remuneration loan charge with effect from 6 April 2019, HMRC have issued guidance on how to make an application to postpone the charge.
Happy New Year.
We start the year with Agent and Employer updates and consultations from HMRC.
In HMRC v English Holdings (BVI) Limited [2017] UKUT 0842 TCC, the Upper Tribunal (UT) concluded that losses subject to corporation tax could be set against profits subject to income tax.
The OECD have published a new consultation “Mandatory Disclosure Rules for Addressing CRS Avoidance Arrangements and Offshore Structures”, it considers whether additional reporting requirements will reduce cross border tax evasion.
On 1 December 2017, HMRC published a new consultation, “Corporate Interest Restriction: Tax response to accounting changes for leasing”, on ways to ensure the corporate interest restriction rules work as intended following the introduction of IFRS16 Leases.