SME Tax News

HMRC have published a summary of the responses to the 'Call for Evidence: Modernising tax debt collection from non-paying businesses'. Feedback acknowledged that HMRC's powers needed to adapt to the changing economy and that care was needed around identifying deliberate non-payers.

A new consultation has been opened on the Construction Industry Scheme (CIS), which considers whether the gross payment statutory compliance test should be reformed to consider VAT and other potential administrative reforms involving landlords, tenants and groups.

HMRC have launched a consultation ‘Tougher consequences for promoters of tax avoidance’. It seeks views on proposals for a new criminal offence for promoters of tax avoidance who fail to comply with HMRC stop notices, and to expedite the disqualification of directors who promote tax avoidance.

As part of Tax Administration and Maintenance Day, HMRC have released a consultation, 'Stamp Taxes on Shares modernisation'. This seeks views on proposals to combine Stamp Duty and Stamp Duty Reserve Tax.

HM Treasury has launched a new consultation ‘Help to Save Reform’ which explores how the Help to Save scheme can be simplified and reformed to make it an effective savings product.

On Tax Administration and Maintenance Day last week, HMRC have released a consultation 'The taxation of decentralised finance (DeFi) involving the lending and staking of cryptoassets'. It seeks views simplifying the tax treatment of certain DeFi transactions.

Missed our SME Tax Web-updates in April? Here is a summary of the month.

In Cranham Sports LLP v HMRC [2023] TC8794, the First Tier Tribunal (FTT) denied a late appeal against IR35 PAYE determinations caused by adviser error. They should have known better and the sum involved and other circumstances did not justify the appeal.