HMRC have issued guidance on the withdrawal of Extra-Statutory Concession (ESC) A94: Theatre Angels, removing the ability to treat distributions of profits as deductible expenses.
SME Tax News
HMRC has updated its current list of deliberate tax defaulters. The list 'names and shames', detailing the defaulter's name, industry, tax, and penalties.
Finance Bill 2016 finally became the Finance Act 2016, getting Royal Assent on 15 September 2016.
In Phillip Marsh and David Price v HMRC [2016] UKFTT TC05288 the First Tier Tribunal (FTT) found that two directors were liable for PAYE that should have been deducted from their salaries shortly prior to their company’s failure.
In Stephen West v HMRC [2016] UKFTT TC05285 the First Tier Tribunal (FTT) decided by casting vote that a director was not liable for PAYE on a bonus paid just before the company went into liquidation. Decision reversed by T, see below.
The Scottish Parliament has published a consultation: 'A Scottish approach to taxation call for evidence' ahead of developing a new approach to taxation.
Chancellor Philip Hammond will deliver his first Autumn Statement on Wednesday 23 November 2016, this will outline proposals for Budget 2017.
Employers and agents no longer have to submit a paper form P11D(b) to HMRC if they have not submitted any P11D forms.
HMRC has begun contacting registered childcare providers inviting them to sign up online to make sure that they are eligible to receive payments from the tax-free childcare accounts being introduced from early 2017.