HMRC has started sending out P800s as part of the 2013/14 end-of-year reconciliation process for individuals in PAYE. This compares the tax paid with the tax which is due, according to the information on HMRC’s records. All P800s should be checked for accuracy.
Fines: No tax relief allowed on non-statutory fines
HMRC have successfully appealed the 2012 decision of the First Tier Tribunal (FTT) that would have allowed F1 racing team McLaren tax relief on a £32 million fine imposed for cheating.
Mansworth v Jelley loss claims
In 2014, HMRC's personal tax contentious issues panel conceded that in certain cases it will allow taxpayers' claims for Mansworth v Jelley loss relief. This will bring to an end many long-running disputes over share losses
HMRC's definition of 'reasonable excuse': too narrow
HMRC's definition of 'reasonable excuse' makes for a waste of time and resources: it is "too narrow" according to First Tier Tribunal Judge Ann Redston. As a result cases come to the Tribunal when they could be resolved by HMRC.
HMRC's 2012 'nudge' letter trial
HMRC has been sending out around 1,000 'nudge' letters to individuals paying tax at a lower-than-expected effective tax rates. This is a trial and not publicised campaign.
Prohibition of corporate members from LLPs
The government department, Business Innovation & Skills (BIS) has published a response to a consultation document relating to greater transparency and trust in UK business and included a proposal to prohibit corporate membership of LLPs.
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