HMRC have released a Stamp Taxes Newsletter in February 2023. This is our enhanced version with links to more detailed guides.
SME Tax News
In Dr Syed Rizvi v HMRC [2023] TC08731, the First Tier Tribunal (FTT) found discovery assessments had been raised in time as while the taxpayer had not been careless in relying on his accountant, that accountant had acted carelessly.
What sort of landlords pay Class 2 National Insurance Contributions (NICs)? HMRC have devised a simplistic approach to the problem: they place landlord activities as falling into three different 'tiers'. The only issue with such an approach is that neither tax legislation nor past case law reveals a three-tier test.
Missed our SME Tax Web-updates in February? Here is a summary of the month.
Self Assessment taxpayers who do not make their 2021-22 balancing payment by 3 March 2023, face a 5% late payment penalty. A penalty may be avoided by setting up a Time to Pay agreement before the penalty deadline.
Hello,
This time we have new Agent and Employer updates, another reminder to top up voluntary NICs, and a new remuneration optimising calculator.
HMRC have published new advisory fuel rates for company car drivers which apply from 1 March 2023.
HMRC have issued their Agent Update for February 2023. We have summarised the key content for you with links to our detailed guidance on the topics covered.
HMRC have published their Employer Bulletin for February 2023. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
HMRC have informed the ICAEW that from next month the lead time to process any new PAYE direct debits will be longer than previously advised.