SME Tax News

In both Behsodi v HMRC [2017] TC6156 and Moore v HMRC [2017] TC6155 the First Tier Tribunal (FTT) was invited to consider whether HMRC had correctly implemented daily penalties. In both cases the answer was 'No'.

HMRC have published a response to their consultation 'Making Tax Digital – sanctions for late submission and late payment', which includes details of the new points-based penalty system for late returns.

HMRC published a further consultation on interest and penalties, 'Making Tax Digital: Interest harmonisation and sanctions for late payment'.

In Whitehill Pelham Ltd v HMRC [2017] TC06188 HMRC were barred from the proceedings for a complete failure to engage with the tax tribunal; as a result the taxpayers penalty appeal was allowed.

In Aozora GMAC Investment Limited v HMRC [2017] EWHC 2881 (Admin) the High Court considered whether the taxpayer had a legitimate expectation that it could rely on HMRC’s published guidance.

The online service for agents to register for an account so that they can deal with trust registrations for their clients, is now fully up and running.

HMRC have published the results of recently conducted research into Entrepreneurs relief (ER) to see whether it acts as a motivating factor in individuals’ business, investment, retirement, and tax planning decisions.

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.

HMRC have published new advisory fuel rates for company car drivers which will apply from 1 December 2017.

The new rates will be:

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)