A former soldier persuaded the First Tier Tribunal (FTT) to restrict the scope of HMRC's assessment for a High-Income Child Benefit Charge (HICBC). He claimed that he was unaware of the charge due to being absent from the country on military operations. HMRC's discovery was permitted due to a retrospective change in the tax law and the taxpayer missed the cut-off by a matter of days.
SME Tax News
In their latest one-to-many letter, HMRC turn their attention to company owners who may have underdeclared dividend income.
Hello
How was Self Assessment for you? I bet you have the same issue: a small band of taxpayers who bring their books in at the last minute.
Been too busy with Self Assessment returns to keep up with the news? Our pick of useful cases for accountants to discuss with their clients focused mainly on tax appeals by companies or their directors, we also have a selection of VAT, SDLT and customs duty appeals.
In Sabbir Patwary v HMRC [2024] TC09035, the First Tier Tribunal (FTT) found that a taxpayer gave 'remarkably little' evidence to demonstrate that he occupied a property as his only or main residence. As a result, his claim for Capital Gains Tax (CGT) Private Residence Relief (PRR) was denied.
A lot of clients say that they have had difficulty navigating HMRC's online payment screen, this is a walk-through describing how to make a payment using online banking. The end steps may vary according to your individual bank.
Missed our SME Tax Web-updates in January? Here is a summary of the month.
Hello
With less than a week to go before we reach the deadline for filing Self Assessment returns and the pressure well and truly mounting we are delighted, after last week's Poppadom sensation VAT case, to find yet another amusing First Tier Tribunal (FTT) decision to read over lunch.
The First Tier Tribunal has had the engaging task of deciding whether imported action figures from Game of Thrones, the Marvel comics and the Living Dead are human, non-human, statuettes or just plastic toys, in an appeal against underpayment of Customs Duty.
The Scottish Government has published a response to its consultation on proposed legislative amendments to the Additional Dwelling Supplement (ADS) rules. These changes include extending 18-month deadlines to 36 months and providing relief from ADS on divorce or separation.