The Government has launched a consultation on the treatment and transparency of tips, gratuities, cover and service charges.
PAYE/RTI penalties: 3 day grace period extended
HMRC is continuing its RTI penalty concession. Employers have an extra three days to report their payrolls online...until 2017.
Share loss relief: loan converted into shares
In John Lewis v HMRC [2016] TC05029 share loss relief was allowed when an undocumented loan was converted to shares and the company ceased to trade shortly after.
HMRC update guidance on selecting a Flat Rate Scheme percentage
Following criticism from professional bodies and a number of unsuccessful visits to the First Tier Tribunal (FTT) HMRC has issued a revised version of VAT notice 733 Flat Rate Scheme to update their guidance in accordance with the FTT decisions.
Share loss relief: shares not Ordinary
In Colin Bielckus, Mark Arnell and Kevin Taylor v HMRC [2016] TC05044 the addition of voting rights attaching to shares were not enough to make them ordinary shares for the purposes of share loss relief.
Entrepreneurs' Relief: the dangers of unusual share rights
In M & E McQuillan v HMRC [2016] TC05074 redeemable non-voting shares carrying no right to a dividend were not counted as ordinary shares for CGT relief on the basis that no right to a dividend amounted to a fixed rate dividend of 0%. This finding is contrary to HMRC's manuals.
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