A new clause has been added to the Finance Bill 2015-16. It allows HMRC to deduct a 45% rate of corporation tax on compound interest which has been awarded to a company in respect of a restitution claim.
A new clause has been added to the Finance Bill 2015-16. It allows HMRC to deduct a 45% rate of corporation tax on compound interest which has been awarded to a company in respect of a restitution claim.
In a move described by the Chartered Institute of Taxation (CIOT) as a "victory for common sense" HMRC have announced that they are phasing out business records checks (BRCs).
In David Jones V HMRC [2015] TC04643 a self employed consultant anaesthetist with an established private practice at his home was denied tax relief for travel to two of the hospitals at which he visited for work: the number of his visits made his attendance "regular and predictable". Travel to and from home to other hospitals was allowed.
People reaching State Pension age before 5 April 2016 have the chance to top up their state pension by up to £25 per year by making class 3A voluntary contributions before 5 April 2017.
The National Minimum Wage increases to £6.70 on 1 October 2015.
Don't forget the ATED Return Deadline: returns for properties falling within the new £1 million to £2 million band are due by 1 October 2015
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