HM Treasury is inviting representations from stakeholders ahead of the 2024 Autumn Budget, which will be held on 30 October 2024. Time is getting short for making representations: the portal closes on 10 September 2024.
SME Tax News
Missed our SME Tax Web-updates in August? Here is a summary of the month.
Hello,
This week's top news item asks whether you can spot what's wrong in a scam email targeting tax agents. See what you think. We also have a cautionary tale on the National Minimum Wage (NMW) rules and are showcasing guides and updates covering a range of new measures and proposals. In amongst all that we have the latest news and more cases.
HMRC have published new advisory fuel rates for company car drivers that apply from 1 September 2024.
Email scammers are trying to take advantage of HMRC's processes for verification of tax agent identity by sending out phishing emails that claim to be from HMRC's Agent Service. A new email purporting to come from HMRC directs agents to click on a link back to the scammers which could easily fool people reading on a small screen. Can you spot what's wrong?
In Mainpay Limited v HMRC [2024] UKUT 0023, the Upper Tribunal (UT) confirmed that employees of an umbrella company couldn't claim an allowable deduction for reimbursed travel or subsistence expenses. Each agency assignment was deemed a separate employment, making the underlying workplace permanent.
In Luis Carvajal and Anor v HMRC [2024] TC09248, the First Tier Tribunal (FTT) found that HMRC could not pursue underpaid Inheritance Tax (IHT) of £588,700 on an ineffective IHT planning arrangement as a clearance certificate had been issued by HMRC, in error.
HMRC's Wealthy Team are sending a one-to-many letter to individuals with annual earnings over £200,000 who have a dormant account with HMRC, received a Notice to File a tax return for 2021-22 but did not file, and those who have never registered for Self Assessment.
HMRC have published their Agent Update for August 2024. We have summarised the key content with links to our detailed guidance on the topics covered.
In the Employment Appeal Tribunal (EAT) case of HMRC v Lees of Scotland Ltd [2024] EAT 120, a company that operated a voluntary savings scheme was found to have breached the National Minimum Wage (NMW) regulations, reversing an earlier decision by the Employment Tribunal.
