What a year 2016 has been in the world of UK tax. Here is our run down of the top 10 developments and events.
Tax deduction for daughter's motor racing sponsorship
In The Crown and Cushion Hotel v HMRC [2016] TC05492 the First Tier Tribunal (FTT) allowed a deduction for corporation tax for payments made sponsoring the director's daughter’s motor sports activities.
HMRC Agent Update December 2016
HMRC have issued their Agent Update for December 2016 / January 2017: we have summarised the key content for you with links to our detailed guidance on the topics covered.
FTT disagrees with HMRC on late payment of R & D costs
In Gas Recovery and Recycle Ltd v HMRC [2016] TC05473 the First Tier Tribunal (FTT) despite making a different interpretation of the rules to HMRC denied a claim for R&D relief: expenditure was not paid for until after the claim was made.
PSCs and the public sector: consultation response:
HMRC have published a response to their consultation earlier this year on ‘Off-payroll working in the public sector: reform of the intermediaries legislation’.
Notifying HMRC about offshore structures: consultation
HMRC have published a consultation ‘Tackling offshore tax evasion: A requirement to notify HMRC of offshore structures’ as part of their ongoing offshore tax evasion strategy.
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