Hello,
We have a broad variety of tax news and updates for you this week and we have been busy updating some of our core guides, which is always exciting from an editorial perspective.
SME Tax News
HMRC's recent one-to-many letter prompts Community Amateur Sports Clubs (CASCs) to review their eligibility for the scheme.
The Welsh Government has published a consultation on proposed changes to Land Transaction Tax (LTT) reliefs, which include the abolition of Multiple Dwellings Relief (MDR) from 1 June 2024.
Football pundit and former Scottish footballer and manager Neil McCann lost his appeal at the Upper Tribunal (UT) that his contract with Sky was employment. This finding confirms liabilities to tax and NIC of over £200,000.
HMRC has introduced a new calculator to help self-employed individuals determine their transition profit for 2023-24, under the basis period reform rules.
HMRC's officers made five visits to a Chinese takeaway to confirm that not all the sales were recorded in the till leading to assessments for VAT and a s.455 Corporation Tax charge because the director was found to have pocketed the cash sales.
Coronavirus Job Retention Scheme (CJRS) claims were denied by the First Tier Tribunal. The claims were contrary to the exceptional purposes of the scheme.
From April 2024, volunteers participating in the testing phase of Making Tax Digital for Income Tax, will be subject to the new penalty regime.
Hello,
This week we have been taking a look at HMRC's annual Trusts and Estates newsletter and their final Employer Bulletin for the tax year. We are now updating a lot of our 'annuals' and also our calculators. We have a list of 'last minute' reminders as follows:
From 1 April 2024, personal representatives seeking to obtain probate will no longer need to seek a commercial loan to pay Inheritance Tax, before applying to HMRC for a grant on credit.