The Office of Tax Simplification (OTS) published its report 'Simplification of the Corporation Tax Computation' in July 2017. It makes recommendations for Corporation Tax to be modernised and simplified.
SME Tax News
In Charles O’Rorke v HMRC [2017] TC6008, the First Tier Tribunal (FTT) upheld an assessment that a director was negligent so personally liable for the company’s NIC bill.
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The Chancellor has published a letter which asks the Office of Tax Simplification (OTS) to conduct a further review of the proposal to use depreciation instead of capital allowances for tax.
In The Estate of Maureen W. Vigne (deceased) v HMRC [2017] TC06068, a livery business qualified for business property relief; to the lay person it looked and felt like a business therefore it was.
In BPP Holdings & Ors v HMRC [2017] UKSC 55, the Supreme Court (SC) dismissed HMRC’s appeal and agreed that they were not entitled to take part in the case proceedings due to a failure to provide information by the agreed due date.
HMRC have published new advisory fuel rates for company car drivers which will apply from 1 September 2017.
HMRC have published their Employer Bulletin for August 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
HMRC has posted 'Childcare Service compensation': it is offering parents compensation if they have been subjected to various technical difficulties in relation to its online Tax-free Childcare account.
In Kreeson Thathiah v HMRC [2017] TC06043 the First Tier Tribunal (FTT) found that HMRC could not prove that the Senior Accounting Officer had failed to take reasonable steps to establish and maintain appropriate tax accounting arrangements.