Happy New Year.

We start the year with Agent and Employer updates and consultations from HMRC.

We've now opened the final doors to our 2017 Advent Calendar and we look forward to a new year of tax!

Various new consultations and responses were published in the run up to Christmas. We have covered some this week and we will follow up with more next week. It's a busy time of year and you can track changes via our rolling planners.

The chancellor has announced the date of the first Spring Statement. This is not to be confused with the Budget, which of course has moved back to Autumn. How long do you think it will take before the Spring Statement also becomes a mini-budget? My bet is 1 cycle...

If you have any tax queries please do try out our Virtual Tax Partner support portal at www.VtaxP.co.uk

Enjoy the guides and updates and the news is below. 

Back soon

Nichola Ross Martin FCA Tax Director


Your Virtual Tax Partner®: online PRACTICAL support for accountants & tax advisers BY accountants & tax advisers

Quick news (freeview)

First Spring Statement announced
The chancellor has announced that the first Spring statement where the government will respond to the forecast from the Office for Budget Responsibility will be held on Tuesday 13 March 2018.

Christmas Advent Calendar
We opened a door in our calendar for every working day in December and (hopefully) added a little sparkle to your tax and accounting day. Lots of top tips and useful links.

Employer Bulletin: December 2017
HMRC have published their Employer Bulletin for December 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.

Agent Update December 2017/January 2018
HMRC have issued the Agent Update for October / November 2017. We have summarised the key content for you with links to our detailed guidance on the topics covered.

Corporate Tax and the digital economy: position paper
HM Treasury has published a position paper to consider how the international tax framework operates in connection with the digital economy. 

MTD: Consultation on Draft VAT regulations
HMRC has published draft secondary legislation in respect of Making Tax Digital (MTD) for VAT in the form of regulations, a draft explanatory memorandum and draft VAT Notice, for public comment.

Case Update (freeview)

How wide is a closure notice?
In Towers Watson Limited v HMRC [2017] TC06241, the First Tier Tribunal (FTT) decided HMRC could not raise matters not covered in their closure notice in response to the taxpayer’s appeal.

Editor's Choice (subscribers & freeview)  

Self assessment: late filing and payment penalties
UPDATE: a handy guide to penalties

Finance Acts 2017: tax update and rolling planner
What's hot for the 2017/18 tax year.

Finance Act 2018-19: tax update and rolling planner
What the 2018/19 tax year has in store.

Tax Guides and Updates (subscribers) 

Land and Buildings Transaction Tax
UPDATE: SCOTLAND: extended 0% band for first time buyers of residential property announced in the Scottish Budget 2018/19. 

Land Transaction Tax
UDPATE: WALES: Adjustment to rates and bands announced before the tax comes into force on 1 April 2018. 

Non-resident trusts
UPDATE: Proposed changes to the taxation of gains for non-resident trusts are included in Finance Bill 2018 and are now also in our guide.   


Place of Supply: Mini One Stop Shop
new EU rules will change the deadlines for VAT MOSS returns and extend the rules to all services from non-EU businesses as well as distance sales of goods. 

Simple invoice insufficient for iPhone VAT reclaim
FREEVIEW: In Scandico Ltd v HMRC [2017] UKUT 0467, the Upper Tribunal (UT) agreed that a simple invoice for the purchase of an iPhone costing more than £250 was insufficient to enable VAT recovery. 

CPD Webinars

New CPD click here

Missed last time's update?

Nichola's SME Tax w-update to 15 December 2017


  • Autumn 2017 consultations
  • CGT different ways of taxing UK property updates
  • Finance Acts 2017: tax update and rolling planner
  • Scottish Budget income tax rates
  • Personal service company tax update
  • VAT place of supply updates

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