Our Adviser's Land and Property Update is out now.
Archived SME tax news
PA Holdings v HMRC: the Court of Appeal decided that when a bonus is structured as dividends it can be taxed as employment earnings for both PAYE and NICs. The company withdrew its appeal to the Supreme Court on 11 April 2013.
From April 2013 under measures introduced in the 2013 Finance Act office holders will become within the scope of IR35.
The government is proposing a new Tax-free Childcare scheme worth up to £1,200 per child. However, it will be of no benefit to the small army of work-at-home parents who juggle work and childcare themselves.
As a result of the major change by HMRC to the PAYE system from April 2013, known as Real Time Information (RTI), the main tax and accounting bodies have issued updated guidance on letters of engagement for tax practitioners.
New rules use government buying power against tax avoidance. The government is proposing new rules that will ban companies and individuals which take part in failed tax avoidance schemes from being awarded Government contracts.
The Chartered Institute of Taxation (CIOT) is calling for an extension of the penalty free period for employers filing payroll under Real Time Information (RTI) reporting.
The government's proposed cap on income tax reliefs will distort decisions on how businesses should be structured and lead to more decisions being taken for tax rather than commercial reasons, tax simplification measures are "badly designed" and disincorporation relief has a "bizarre effect" say the Association of Taxation Technicians.