HMRC have published a response to their consultation earlier this year on ‘Museums and galleries tax relief’.
SME Tax News
HMRC have published a response to their further consultation published in August 2016 on ‘Reforms to the taxation of non-domiciles’.
In Abingdon Health Limited v HMRC [2016] TC 05525, EIS relief was denied as shares acquired preferential rights on the issue of a new class of growth shares.
In Gordon Anthony Yablon v HMRC [2016] TC 05539 a late application for enhanced protection was denied as the taxpayer did not have a reasonable excuse for missing the deadline.
In Mark Danvers v HMRC [2016] UKUT 0569 the Upper Tribunal (UT) upheld the earlier decision of the First Tier Tribunal (FTT) that a third party loan to a pension scheme member was an unauthorised payment.
HMRC have published a response to their consultation earlier this year on ‘Tackling offshore tax evasion: Requirement to Correct’.
In Richard White v HMRC [2016] TC05527 the First Tier Tribunal (FTT) found that a loan from a third party to a pension scheme member was an unauthorised payment.
The Low Incomes Tax Reform Group (LITRG) is urging tax credit claimants who have submitted estimates of their 2015/16 income to confirm or update their estimates by 31 January 2017 to ensure they have received and continue to receive the right amount of support.
In Mark Wickersham v HMRC [2016] EWHC 2956 the High Court held that no tax repayment was due as HMRC had given notice of their intention to enquire into a share loss relief claim.