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.
SME Tax News
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.
There have been reports that some employers have incorrectly been sent an interim penalty warning letter when they have submitted all of their RTI returns for 2013/14. HMRC says that most of the letters that have been issued inappropriately, relate to employers who have submitted employer payment summaries (EPS) and that if an employer or payroll agent has received a warning letter and all RTI returns for the year have been filed then there is no need to take any further action.
HMRC apologises for the inconvenience caused and are taking urgent steps to rectify the situation. All of the records impacted by this issue will be updated and a penalty will not be charged.
If you are an ICAEW member please send
The ICAEW suggests:
For difficulties generally, including PAYE RTI going forward:
- Where there is a client specific problem which you cannot resolve, try using HMRC’s Agent Account Manager service.
- For payment and debt queries there is a new HMRC agent helpline – telephone no. 0300 200 3887
A speculative landfill and land consultancy counts as a business for capital gains tax (CGT) section 162 incorporation relief.
HMRC has published the first sections of its new partnership tax manual.
HMRC produce a helpcard for companies who are Construction Industry Scheme (CIS) subcontractors together with its Top Ten tips in making a successful repayment claim from HMRC.