Hello
Welcome to the first news update of 2015. A couple of pieces of good news to start off:
SME Tax News
HMRC have decided to remove the requirement for employers to answer the end of year checklist that accompanied form P35 following the introduction of RTI filing.
In Michael Hunt v HMRC TC04183 the First Tier Tax Tribunal (FTT) considered what is meant by the term “fit and proper person” for the purposes of registration under the Money Laundering Regulations 2007.
In Trevor Hartland v HMRC [2014] TC04187 the First Tier Tribunal (FTT) considered a sequence of private property disposals in order to determine which, if any, were trading activities and which qualified for CGT private residence relief.
In Ian Branagan v HMRC TC04188 the First Tier Tax tribunal (FTT) denied income tax share loss relief in respect of a negligible value claim: the company was not a qualifying trading company at the relevant time. In dismissing the taxpayer's appeal the FTT had to determine what was meant by "relevant time".
HMRC is encouraging taxpayers to tweet their tax inquiries because its telephone services cannot cope with calls. According to the press the move has been ridiculed by some MPs and their are significant issues in respect of taxpayer confidentiality which have not been addressed.
Next year’s Budget will take place on Wednesday 18 March 2015. See Autumn Statement highlights for a list of key proposals to be included in the 2015 Finance Act.
Hello
We are back with highlights of the Chancellor's Autumn Statement, new guides on Entrepreneurs' Relief, CGT for non-residents, daily tax penalties and topical news.
- Corporate directors of UK companies & LLP members
- HMRC v Donaldson: daily late filing penalty temporary victory for HMRC
- Autumn Statement 2014: the highlights
- Direct recovery of debts receives green light, with new safeguards
- Tax credits: debt collection changes
- Workplace pensions: the new penalties begin