HMRC has carried out a very short consultation into proposed regulations which will have implications for everyone involved in providing tax advice, requiring advisers to notify their clients about the "Common Reporting Standard".
Another doctor's travel and subsistence claim fails
In Dr Sharat Jain v HMRC TC 04788 [2015], an NHS consultant who carried on private work at weekends from various hospitals was disallowed his home to travel and subsistence costs. They were not wholly and exclusively incurred: the FTT applied the reasoning from the Dr Samadian decision.
Fee paid to avoid tax partner's bankruptcy: disallowed
In HMRC v Peter Vaines [2016] UKUT 0002 (TCC), a partner in a law firm was disallowed tax relief on a payment made to avoid potential bankruptcy and to protect his reputation, it was not wholly and exclusively incurred for the purposes of the trade.
RIP: Post Transaction Valuation Checks
HMRC's Shares & Asset Valuation (SAV) is to withdraw some valuation check services. SAV says that its valuation resources are being severely stretched. It will withdraw its informal valuation check service for PAYE Health Checks and ITEPA Post Transaction Valuation Checks.
Parliamentary debate on quarterly accounting for the self employed
MPs debated the online petition "Scrap plans forcing self employed & small business to do 4 tax returns yearly" earlier this week and the Financial Secretary to the Treasury, David Gauke provided more detail of the government's plans for digital reporting.
HMRC issues invalid APNs to IT contractors
HMRC has been forced to withdraw thousands of APNs in respect of a contractor Isle of Man tax avoidance scheme.
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