HMRC have advised that from 13 January 2018, they will not longer be accepting payments from personal credit cards.
SME Tax News
The OTS have published a call for evidence as it begins its review of whether to replace capital allowances with depreciation.
On 17 October 2017 the new online trust registration service (TRS) went live for agents.
MTD start dates: HMRC published draft secondary legislation in September 2017. The proposed start date is not confirmed but is given as 6 April [YYYY]. If we assume that [YYYY] = 2020, some businesses seem to start in 2019.
A round-up of the latest developments in tax for private clients, covering Income Tax, Capital Gains Tax (CGT) and Inheritance Tax ( IHT).
In Rebecca Louise Vowles v HMRC [2017] TC06123 the abused partner in a failed relationship was let off substantial tax on dividends and employment benefits and penalties on the basis that she had been acting only as a nominee director and had no beneficial entitlement to the income assessed by HMRC.
In Noel Payne, Christopher Garbett, Coca-Cola European Partners Breat Britain Limited v HMRC [2017] TC06082 the FTT had to decide whether the VW Kombi and the Vauxhall Vivaro were cars or vans for the purpose of assessing employee benefits.
Update: on appeal in 2019, the Upper Tier tribunal confirmed this decision.
The Scottish Parliament has announced that its Draft Budget 2018/19 will be published on 14 December 2017.
The Solicitors Regulation Authority (SRA) has instructed all solicitors to comply with the Code of Professional Conduct in Relation to Taxation jointly published by the accounting and tax bodies in March 2017.
In Vucicevic & Anor v Aleksic [2017] EWHC 2335 (Ch) the High Court upheld a homemade Will despite a number of areas where it lacked clarity and did not meet procedural requirements.