In his Autumn Statement 2016 the chancellor announced the removal of tax reliefs for individuals entering into Employee Shareholder Status (ESS) agreements on or after 1 December 2016.
SME Tax News
Highlights of the chancellor's Autumn Statement - live feed.
In Raymond Tooth v HMRC [2016] TC 05452 the First Tier Tribunal (FTT) found that the extended discovery assessment time limit did not apply as the taxpayer’s deliberate error did not directly bring about the loss of tax. Spoiler alert: this case has been subject to various appeals, and was decided in favour of the taxpayer by the Supreme Court in 2021.
A guide for registered subscribers.
What's new in Gift Aid 2016/17?
In Blackhorse Property Management Ltd v HMRC [2016] TC05449 the First Tier Tribunal (FTT) upheld but reduced a penalty for failing to register under the money laundering regulations.
In Executors of Beryl Coulter v HMRC [2016] EWCA Civ 938 the Court of Appeal confirmed that a legacy to a Jersey charity is not an exempt transfer for inheritance tax.
HMRC have published a response and further consultation document “Simplifying the Gift Aid donor benefits rules”.
The Office of Tax Simplification (OTS) has published “Closer alignment of income tax and national insurance: a further review” which sets out analysis and possible options for NIC reform.
In HMRC v J Ariel [2016] EWHC 1674 the High Court found that the First Tier Tribunal (FTT) had absolute jurisdiction over whether a third party notice could be issued to a trustee in bankruptcy and what it should say.
Doing an 'Eric Morcambe': HMRC's Tax Assurance Commissioner Jim Harra says that the five returns per year that taxpayers are required to submit under HMRC's Making Tax Digital (MTD) are not accounts.