HMRC have published their Employer Bulletin for June 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.
SME Tax News
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Good news this week for some who received High Income Child Benefit Charge late notification penalties. A new Agent update and our Virtual Tax Partner Toolkit 'TAMI' expands.
HMRC have issued Revenue & Customs Brief 3 (2019) VAT zero rating of transport for disabled passengers. This is to clarify its position and considers the situation where passenger vehicles are adapted for wheelchair transport.
HMRC have issued the Agent Update for June/July 2019. We have summarised the key content for you with links to our detailed guidance on the topics covered.
In David Briggs & Others v HMRC [2019] TC07166 the FTT held that a change in a right to earnout consideration from loan notes to cash was a disposal of that right and triggered the gain deferred on the original disposal.
HMRC have completed their review of cases where a failure to notify penalty was issued to taxpayers who did not register for the High Income Child Benefit Charge, repaying £1.8m in penalties.
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This week we have some amazing announcements to make. We also have free CPD in the form of our Company Tax update and worrying news about loan charge settlements.
In HMRC v Total E&P North Sea UK Limited and another [2019] UKUT TC133 the Upper Tribunal overruled the FTT; the method used by the taxpayers to apportion their company profits went beyond what was just and reasonable. The Court of Appeal (CA) has found in favour of the taxpayers and agreed with the FTT findings.