HMRC have begun issuing their end of year tax reconciliations for 2015/16, and are expected to have sent around 6 million of these forms P800 to taxpayers by the end of November.
HMRC have begun issuing their end of year tax reconciliations for 2015/16, and are expected to have sent around 6 million of these forms P800 to taxpayers by the end of November.
In Donaldson v HMRC [2016] EWCA Civ 761 the Court of Appeal confirmed that HMRC had correctly imposed daily late filing penalties under Schedule 55 FA 2009. This decision is important as there have been a number of cases put on hold awaiting its outcome.
HMRC has been allowed a budget of just under £999,660 to advertise the marriage allowance.
The introduction of the tapered annual allowance means that some individuals will see their allowable pension contributions for the 2016/17 tax year reduced to just £10,000.
On 5 July 2016 the Welsh Government published the draft Land Transaction Tax and Anti-avoidance of Devolved Taxes (Wales) Bill setting out proposals for the introduction of the Welsh Land Transaction Tax (LTT) which will replace Stamp Duty Land Tax (SDLT) in April 2018.
In Jane Borton t/a Contract Build v HMRC [2016] UKFTT TC05224 the First Tier Tribunal (FTT) agreed that the input VAT paid on the purchase of a car by a sole trader could be reclaimed.
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