The Law Society and ATT have again expressed concern that the draft legislation which extends the off-payroll working rules to the private sector fails to protect parties who are not at fault from secondary PAYE liabilities.
GAAR panel: cash extraction by ES shares
The GAAR Advisory Panel has published an opinion on a number of schemes aiming at extraction of cash/value from a company by its directors/shareholders using Employee Shareholder shares and they conclude that the planning is unreasonable and therefore inconsistent with government tax policy.
Employment Related Securities: What’s New? October 2019
HMRC's latest Employment Related Securities Bulletin contains some handy tips. Here is our enhanced version.
Nichola's SME Tax W-update 4 October 2019
Hello
We have a new guide to company start-ups, a company update and lots more this time.
Were loan fees VAT exempt supplies?
In Newmafruit Farms Ltd v HMRC [2019] TC 7254, the First Tier Tribunal (FTT) decided that a farm could not claim back input tax on professional fees relating to a loan. The fees related to an exempt supply of lending money and not to the farming trade.
IHT: Receipts up, reliefs down but paid by just 5% of estates
Recent figures released by HMRC about Inheritance tax in the UK show an increase in the value of estates and a drop in business and charitable relief claims. This resulted in increases in 2018/19 tax receipts to £5.4billion.
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