The government has announced major changes to its Making Tax Digital for business (MTD) proposals. MTD will initially only apply for VAT. VAT registered businesses are mandated into HMRC's plans for quarterly bookkeeping and reporting from 2019. MTD will not become compulsory for other businesses or taxes until at least 2021.
Undecided! Responses compared to HMRC's MTD penalty condoc
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.
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.
Agent Update June / July 2017
HMRC have issued their Agent Update for June / July 2017. We have summarised the key content for you with links to our detailed guidance on the topics covered.
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