In Fastklean Limited v HMRC [2020] TC2004, an employer who filed Employment Intermediaries Returns to please HMRC was successful in claiming reasonable excuse for late filing. Tax counsel had advised that no returns were due.
SME Tax News
Missed our SME Tax Web-updates in July? Here is a summary of the month.
In Dr Marie Hallen & Dr Anette Persson v HMRC [2020] TC7775, the First Tier Tribunal (FTT) upheld penalties for inaccuracies in tax returns relating to a tax avoidance scheme. The taxpayers knew their returns were wrong, their behaviour was deliberate.
Hello
There is quite a lot of news to report this week. The 2020 Finance Act is now law. The government has published a batch of new policy papers covering measures proposed for Finance Act 2021, as well as updating its guidance on Making Tax Digital (MTD).
The government has published the first batch of its new policies and consultations alongside a draft Finance Bill for 2021. We have reviewed the following measures.
In Thimmaiah Gummatira v HMRC [2020] TC7767, the First Tier Tribunal (FTT) dismissed an appeal against penalties for failure to notify HMRC of a liability to the High-Income Child Benefit Charge. Neither a reasonable excuse nor special circumstances existed to warrant a reduction in the penalties.
HMRC have published a policy paper, 'Changes to the treatment of termination payments and post-employment notice pay for Income Tax'. This proposes to amend the rules for the calculation of Post-Employment Notice Pay on termination of employment from 6 April 2021.
Finance Bill 2020 received Royal Assent on 22 July 2020 and became Finance Act 2020, a day after the government issued the next draft Finance Bill for 2020-21.
- Court of Appeal: VW Kombi and Vauxhall Vivaro are cars not vans
- Proposed Amendments to HMRC's civil information powers
- VBC reduced to nil for zero-emission vans
- Changes planned to Small Brewer's Relief
- Licence renewals to come with a new tax check
- Government consults on how to tackle tax avoidance schemes