UPDATED: Don’t file your 2016/17 tax return online: you may overpay your tax. HMRC has made a specification error which is affecting many Self Assessment taxpayers. The error applies to HMRC's own product or third party software.
SME Tax News
What tax returns and claims are due before the end of the tax year?
The government has published a White Paper 'Legislating for the United Kingdom’s withdrawal from the European Union' this explains how the Great Repeal Bill will convert the body of EU legislation into UK law and then considers options, such as imposing restraints on delegated power.
In Schotten & Hansen (UK) Limited v HMRC [2017] TC05679 a taxpayer escaped a £28k penalty. Ignorance of the CIS rules was a reasonable excuse in relation to the use of foreign sub-contractors.
In William Reeves v HMRC [2017] TC05679, a US citizen’s claim for CGT hold-over relief on transfering his partnership interest to his own UK company was denied when applying wide-ranging tests for control in s416 ICTA 1988: his shareholding was attributed to his non-resident wife or children.
Technical tax professional wanted: working from home. We are looking for someone who is very strong in SME company / owner-managed business tax. Based working at home, part or full-time.
HMRC have released the updated VAT Fuel Scale Charge rates, to apply from 1 May 2017.
Finance (No 2) Act 2017 introduced measures that permit HMRC to tax any outstanding EBT loans made since 6 April 1999 on the basis that a non-repayable loan it not a loan, but is disguised pay.
HMRC registration for Money Laundering Supervison is moving online, those who are digitally excluded may still register on paper.
Plans to increase probate fees for all estate worth inexcess of £50,000 increase from May 2017 have been dropped: there is no time to introduce the legislation because of the general election.