A new consultation has been opened “Tax avoidance involving profit fragmentation” which sets out proposals to tackle tax avoidance schemes which move UK profits outside the UK tax charge.
SME Tax News
HMRC have published a new consultation “Capital Gains Tax: Payment window for residential property gains” which looks at reducing the CGT payment time for residential property to 30 days from April 2020.
Hello
Happy New Tax Year and we welcome in the UK's newest tax, Sugar Tax.
Stamp Duty Land Tax (SDLT) does not apply to land transactions in Wales from 1 April 2018.
HMRC has advised that EU State Aid approval for the Enterprise Management Incentive (EMI) scheme expires on 6 April 2018 and whilst the government has applied to the European Commission for fresh approval, it will not be received before 6 April 2018.
In Sippchoice Limited v HMRC [2017] TC06378, the First Tier Tribunal (FTT) confirmed that a contribution ‘in specie’ paid into a SIPP in satisfaction of a monetary obligation amounted to a payment and so was allowable for Income Tax.
In HMRC v Stephen West [2018] UKUT 0100 the Upper tribunal (UT) held that the director of an insolvent company was personally liable for PAYE and NICs on a bonus paid to clear his loan account before company went into liquidation.
HMRC have now published a response to their consultation ‘Large Business compliance – enhancing our risk assessment approach’.
- HMRC lose latest IR35 case
- Nichola's SME tax W-update 29 March 2018
- Notice of enquiry can be validly served via an agent
- Use of online platforms to ensure tax compliance: call for evidence
- Allowing Entrepreneurs' Relief on gains before dilution: a consultation
- Nichola's SME Tax W-update 23 March 2018