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.
SME Tax News
The OTS has published a progress report into its review “Simplification of the Corporation Tax Computation” along with a call for evidence.
In November 2016 the Office of Tax Simplification (OTS) published their final reports on small company tax reform, recommending that ‘Lookthrough taxation’ proposals be dropped but those for a new ‘Sole Enterprise with Protected Assets (SEPA)' trading vehicle be taken forward.
In Mr Remi Ashton v HMRC [2016] UKFTT TC05456 the First Tier Tribunal agreed that the taxpayer was an employee and not a partner of a partnership.
In Sarah Baylis v HMRC [2016] TC 05454 the First Tier Tribunal (FTT) found that care home fees paid by a company were a benefit in kind for the patient's spouse rather than her daughter.
From 1 March 2017, members of seven professional tax and accounting bodies will be prevented from promoting or creating tax avoidance schemes under a new code of Professional Conduct in Relation to Taxation.
In Elite Hand Car Wash v HMRC [2016] TC 05431 the First Tier Tribunal (FTT) rejected a taxpayer’s claim that HMRC’s RTI reporting relaxation for micro employers meant it did not have to file online.
The High Court has ruled that the UK Government cannot trigger Article 50 to leave the EU without reference to Parliament.
In Antony Phillip Brown v HMRC [2016] TC 05423 the First Tier Tribunal (FTT) found that a taxpayer did not have a reasonable excuse for late filing of an SDLT return.
In N Bevan Limited v HMRC [2016] TC 05404 the First Tier Tribunal (FTT) upheld a HMRC penalty imposed on a small accountancy firm for not keeping up with their anti-money laundering obligations.