There is a lot of interesting news this week, but no news of Making Tax Digital (for business). We do know that we will have a Summer Finance Bill and a new NICs bill.
Cyber topics have been big news this week, not least the spread of the ransomware attacks on a global scale. Be careful of attachments and only update software directly from your providers' websites.
HMRC are planning on testing 'artificial inteligence' according to a talk by HMRC's Interim Chief Digital & Information Officer at the Public Sector show this week. I am slighlty baffled by what this means as HMRC have been using computers for years, and for sure neural networks are being developed but before we get too excited about HMRC's AI ambitions, would it not be a much better use of public funds to get the current systems working? For example, making RTI work properly and getting tax codes updated in real time. That is being delayed until the end of the summer I gather. I think what AI really means at this stage is that HMRC are going to make better use of 'helpbots' to automate customer services. You've all met Ruth haven't you? Login to HMRC and try her out.
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Enjoy the guides and updates and the news is below.
Nichola Ross Martin FCA Tax Director
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Quick news (freeview)
Summer Finance BIll
Yes, there will be another finance bill this year and also a National Insurance Bill
Tax software blamed for malware attack
Beware email updates: these may have caused the recent ransomware epidemic
HMRC cancels daily penalties for Non-resident CGT returns
HMRC are no longer charging daily penalties for late Non Resident Capital Gains Tax returns, though they retain the legal right to do so.
HMRC: Employer bulletin June 2017
HMRC have published their Employer Bulletin for June 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
HMRC Agent Update June / July 2017
HMRC have issued their Agent Update for June / July 2017: we have summarised the key content for you with links to our detailed guidance on the topics covered.
Should you ignore a student loan notification?
Public authorities have started receiving student loan notifications and messages from HMRC’s Generic Notification Service (GNS) about a failure to deduct repayments from workers caught under the revised IR35 rules.
Online form for company CIS refunds
HMRC have a new online form for companies acting as subcontractors who need to reclaim CIS tax.
Worldwide Disclosure Opportunity
HMRC extends disclosure timetable for complex cases
HMRC updates list of the items for which it will not consider
Case Update (freeview)
Business allowed to postpone VAT registration date
In Onyx of Leicester Limited v HMRC  TC05773, the First-Tier Tribunal (FTT) concluded that it was unreasonable for HMRC to have concluded that a taxpayers registration date could not be revised to a new date, five months later.
Private Residence Relief: a man and his shed
According to the First Tier Tribunal and contrary to some of HMRC's guidance a shed can be part of the permitted area of a garden: even before there was a house on the land. Mr William & Mrs Hazel Ritchie  TC05911 is an unusual case, featuring some even more unusual calculations, it may be subject to appeal, then again it may not: it went through unsuccessful ADR first so perhaps HMRC will 'let sleeping dogs lie'.,
Editor's Choice (subscribers)
Advisers' Penalty Planner
There is a penalty for most things, use this handy guide to scare your clients
Your favourite relief: at a glance and detailed examples
CGT: Private Residence Relief
Update: the relief most likely to catch out unrepresented taxpayers
Garden: selling and developing CGT and income tax
Update: answering your FAQs
Buy to let: personal or company ownership
Update: the differences explained
Surplus cash and striking off a company
Update: the different issues for income tax, CGT and IHT explained
Practical Tax Guides and Updates (subscribers)
Non-resident Capital Gains Tax
UPDATE: HMRC announces that it will not charge daily penalties for late NRCT returns for the moment.
SDLT & residential property (dwellings): higher rate
UPDATE: How and by when to claim a repayment for higher rate SDLT if you have replaced your main residence.
Interest relief: making a loan to a close company
UPDATE: Comments on claiming income tax relief on replacement qualifying loans
CIS repayments: top 10 tips
UPDATE: HMRC's removed publication which can act as a useful checklist when claiming CIS refunds
P11D: reporting benefits and expenses
UPDATE: If you did not register with HMRC to payroll benefits before 6 April 2016, you will still have to complete P11Ds for 'payrolled' items
PAYE & Settlement Agreements
UPDATE: Effect of trivial benefits and the Scottish income tax bands and how to 'gross up'.
Auto-enrolment: workplace pensions (subscriber guide)
UPDATE: 2017/18 rates added.
Reverse charge & place of supply
NEW: A new comprehensive guide on the reverse charge rules and how to report transactions which apply them.
Making Tax Digital
Making Tax Digital: the Index
What's hot and what's not
Taxkeep App Demo
NEW: the app for the digitally incompetent. If you client can enter a number on a mobile phone they should be able to manage this. Ideal for 95% of your clients in bridging that gap between the carrier bag or receipts and the spreadsheet. Simple bookkeeping for masses.
Missed last time's update?
- Land and Property Update
- Employers Update
- Stamp Duty: new rules
- Tax on savings
- Tax on dividends
- Should all directors file tax returns?
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