STOP PRESS: On 25 April 2017 it was confirmed that a large chunk of the bill will be cut.
Prime Minister Theresa May's snap decision to call an early general election on 8 June 2017 leaves the fate of the Finance (No s) Bill 2016/17 hanging in the balance. It may either be rushed through parliament intact but with little parliamentary scrutiny or the more difficult parts of the bill could be omitted.
In D.A. Gray v HMRC [2017] TC05754 the FTT blocked a discovery assessment in relation to a termination payment. The taxpayer was not negligent in failing to notify HMRC as although the employer had only deducted basic rate tax, that was what the PAYE regs' demanded.
In Power Adhesives Limited v Stephen James Sweeney & Others [2017] EWHC 676 the High Court set aside the decision by a company’s directors to convert a loan into shares: this accidently created a transfer of value and it amounted to breach of the directors’ fiduciary or common law duties.
HMRC have published a response to their consultation ‘Stamp duty land tax: changes to the filing and payment process.
HMRC have published a response to their consultation ‘Double Taxation Treaty Passport scheme review’.
HMRC have published their Employer Bulletin for April 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
HMRC have published responses to their consultations ‘Tackling the hidden economy: Sanctions’ and ‘Tackling the hidden economy: Conditionality’.
HMRC's consultation, ‘Making Tax Digital sanctions for late submission and late payment' closed on 11 June 2017. Responses are anticipated shortly.
The Government have published a call for evidence on proposals for ‘A register of beneficial owners of overseas companies and other legal entities’.
In MVM Magyar Villamos Muvet Zrt. V Nemzeti Ado-es Vamhivvatal Fellebbviteli Igazgatosag (Case C-28/16) a holding company was unable to reclaim input VAT on its management activities as it was providing its services free of charge to its subsidiaries.