In March 2016 the Office of Tax Simplification (OTS) published its 'Small company taxation review'. It focused on making the tax system simpler for micro-companies with fewer than ten employees.   

March 2006 saw a major change in the tax treatment of trusts, and as we head towards the tenth anniversary of this change many trusts created since then will have reporting obligations and potential IHT liabilities to consider for the first time.

In Julian Nott v HMRC [2015] TC04897 the First Tier Tribunal (FTT) decided that the letting of holiday units was different to operating a B & B or a hotel and so did not amount to a trade for the purposes of NICs or sideways loss relief.

New companies are being duped into paying for an online directory listing by a webservice that displays a coat of arms that is not unlike that of Companies House.

HMRC have issued their Agent Update for February 2016: we have summarised the key content for you with links to our detailed guidance on the topics covered.