The chancellor's 2016 Budget, together with HMRC's Business Tax Roadmap which was published alongside the budget documents, announced and confirmed a number of changes relating to corporation tax.
SME Tax News
Budget 2016: summary of key new measures announced this week by the chancellor.
The chancellor made his 2016 Budget speech today and made a joke on pensions: "...we'll keep the lump sum and abolish the Liberal Democrats."
The House of Lords Economic Affairs Committee's report on the Draft Finance Bill 2016, raises a number of areas of concern.
In March 2016 the Office of Tax Simplification (OTS) published 'Closer alignment of income tax and national insurance contributions' its simplification review and identified 84 "misalignments and differences" between the two.
In March 2016 the Office of Tax Simplification (OTS) published its 'Small company taxation review'. It focused on making the tax system simpler for micro-companies with fewer than ten employees.
March 2006 saw a major change in the tax treatment of trusts, and as we head towards the tenth anniversary of this change many trusts created since then will have reporting obligations and potential IHT liabilities to consider for the first time.
In Viscount Hood, executor of the estate of Lady Diana Hood v HMRC [2016] T04858 an IHT avoidance scheme in granting a reversionary lease failed: the lease was a gift with reservation of benefit (GWR).
In Julian Nott v HMRC [2015] TC04897 the First Tier Tribunal (FTT) decided that the letting of holiday units was different to operating a B & B or a hotel and so did not amount to a trade for the purposes of NICs or sideways loss relief.
New companies are being duped into paying for an online directory listing by a webservice that displays a coat of arms that is not unlike that of Companies House.