The Chartered Institute of Taxation (CIOT) is calling for a permanent exemption for small employers for PAYE Real Time Information (RTI) reporting.
SME Tax News
Settlement opportunity: tax on contractor loans. HMRC gave contractors who entered contractor loan schemes tax avoidance arrangements an opportunity to pay their tax and avoid penalties. This closed on 30 June 2015.
A new consultation, Office of Tax Simplification, review of unapproved share schemes: Marketable Security, makes recommendations which stand to reform the taxation of employment related securities.
Employee Shareholding Vehicle consultation. This idea was dropped in Novemeber 2014 due to lack of interest.
Accountants BKL have reported some confusion by a First Tier Tribunal judge over whether there is any legal requirement to use a proof of posting certificates when filing a tax return.
The Adjudicator's Office has published its report for 2014. Dame Judy Clements and her team resolved 2,311 complaints about HMRC, upholding a staggering 90% of complaints either partially or substantially.
HM Revenue and Customs (HMRC) have published a draft Statutory Instrument which proposes a highly controversial change to the 2003 PAYE Regulations: the ability for HMRC to change a PAYE tax code by stealth. It is not clear from any documentation why it needs to make this change.
Rangers wins its 'big tax case', its EBT appeal. Loans made to players were genuine loans.
The Chartered Institute of Taxation (CIOT) and Institute of Fiscal Studies (IFS) held a debate this week; HMRC’s powers - Going Too Far? With new and wide ranging powers to demand accelerated payment of tax already included in this years’ Finance Bill, there is a feeling that a new consultation on the direct recovery of debts (DRD) takes matters to far. Do we want really want to give HMRC more powers?
If salaried members of LLPs have agreed to increase their capital contribution in order to disapply the new Finance Act 2014 rules, they must pay by 5 July or be treated as employees.