Annual Investment Allowance (AIA) claims within groups and between companies under common control can be complicated. HMRC are writing to corporate groups and related companies that may have exceeded the AIA limit.
SME Tax News
Companies House has given notices of a rise in its fees and the costs of Registration of an Overseas Entity have increased by 134%. Who realised that there is a cost to remove an Entity from the ROE?
In 2015, a senior Deutsche Bank employee sacked in the fallout of the 2012 Libor rigging scandal, received £6m in compensation for unfair dismissal. The Upper Tribunal (UT) confirmed that the amount was taxable under PAYE and rejected the taxpayer's claim that the payment was received as a result of discrimination and was outside employment income.
The government has provided an update on the proposed registration scheme for short-term lets in England, and announced measures which will require planning permission for future short-term lets.
.
HMRC have updated their list of free and paid-for recognised payroll software used to report PAYE online. HMRC emphasise that they do not recommend one product or service over another and are not responsible for any problems with the software you’ve bought.
Days after announcing that HMRC was going to make business owners reclassify their double cab pick-ups as ‘cars’ for employment benefit and capital allowance purposes, HMRC has changed its policy.
HMRC has been forced to abandon a new policy proposal that would have seen van owners having to reassess and potentially reclassify double cab pick-up vehicles as ‘cars’ for employment benefit and capital allowance purposes.
Hello
Double cab pick-up: a car or van? The answer might lie in the number of passenger doors, but even the physicist Erwin Schrödinger might have been bemused to find that HMRC has announced that soon it will no longer interpret the meaning of 'car' for Benefit In Kind (BIK) and capital allowance purposes in line with the VAT definition. It will, during a transitional period, accept that cars may be vans, meaning that advantage can be taken of the current rules for a time.
The Upper Tribunal has confirmed a major unfairness in the Stamp Duty Land Tax (SDLT) rules. If you have submitted a return on the basis that properties are non-residential and subsequently the subject matter is confirmed residential property, there is no mechanism to go back and claim Multiple Dwelling Relief (MDR) after the 12-month return amendment period.
Can you make a late claim for Stamp Duty Land Tax (SDLT) relief? Ten appellants joined forces to test the tax rules on making a late claim for Multiple Dwelling Relief (MDR). The FTT found that their late claims were a result of 'making a mistake' with a tax claim and thus they were defeated by the basic rules for Overpayment Relief.