Responses to HMRC Consultation 'Making Tax Digital sanctions for late submission and late payment' have been mixed. Now the main bodies have published their responses to HMRC’s consultation it may be useful to see how their thoughts compare.
Swiss bank levy non-refundable
In Karen Vrange v HMRC [2017] EWHC 1055 a taxpayer who ignored warnings about the Swiss bank levy was unable to claim back the levy paid under the UK/Switzerland cooperation agreement following disclosure of her offshore bank accounts.
Supreme Court dismisses Rangers EBT appeal
The Supreme Court has issued its judgement in RFC 2012 Plc (in liquidation) (formerly The Rangers Football Club Plc) v Advocate General for Scotland [2017] UKSC 45 and has agreed with HMRC that loans made to employees under the club's EBT loan scheme were in fact remuneration and so subject to tax and NIC.
New Money Laundering Regulations
On 26 June 2017, The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 replaced the Money Laundering Regulations 2007 and introduced some important changes.
Auto-enrolment fines: case study
The Pensions Regulator have published a case relating to Johnsons Shoe Company and a £40,000 fine for failing to comply with their auto-enrolment duties.
Nichola's SME Tax w-update 30 June 2017
Hello
There is a lot of interesting news this week, but no news of Making Tax Digital (for business). We do know that we will have a Summer Finance Bill and a new NICs bill.
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