In David Howick v HMRC [2022] TC8531, a director who neglected to ensure that a company paid its PAYE and NICs when he took over as its sole director was found not to have acted as a reasonable and prudent man would in the circumstances. His failure meant that HMRC was able to assess him personally for the company's NICs debts.
SME Tax News
Hello
Amidst a very exciting day at Westminster, we hope that you have some time for tax! We have a Corporation Tax ‘what’s new’ for 2022 for you this week and news of Making Tax Digital software and requirements.
The number of live cases being investigated and reviewed under the Corporate Criminal Offences (CCO) regime for the failure to prevent the facilitation of tax evasion has halved since its inception last year.
HMRC has opened a consultation ‘Tertiary legislation for Making Tax Digital for Income Tax’ inviting views on draft legislation for landlords and sole traders under Making Tax Digital (MTD) for Income Tax.
HM Treasury has published a consultation ‘Sovereign immunity from direct taxation: consultation on policy design’ which outlines the government’s proposal to legislate for, and better target, the UK’s exemption from direct tax for foreign sovereign investors, from April 2024.
In Alan Parry Productions Ltd v HMRC [2022] TC08519, the First Tier Tribunal (FTT) held that the control and mutuality of obligation tests were satisfied. The terms of Mr Parry’s contracts with BSkyB were consistent with him being an employee.
The First Minister of Wales, Mark Drakeford and the leader of Plaid Cymru, Adam Price, have announced a package of measures intended to address the high numbers of second homes in Wales.
In Nicholas Close, Andrew Nuttall and Graham Chisnall v HMRC [2022] TC8518, the First Tier Tribunal (FTT) examined the market value of AIM listed shares gifted to charity, reducing them on the basis that there was little evidence of trading on what was an illiquid market.
In Northern Gas Networks Ltd v HMRC [2022] EWCA Civ 910, the Court of Appeal (CoA) found that Land Remediation Relief was not available to a company as its continued pumping of gas through ageing pipelines had contributed to the contamination.
Missed our SME Tax Web-updates in June? Here is a summary of the month.