Scottish Finance Secretary Kate Forbes announced the draft Scottish Budget for 2022-23 on 9 December 2021.
SME Tax News
Many taxpayers are unable to file their Self Assessment returns for the year ended 5 April 2021 online due to software specification issues from HMRC. Updated lists of filing exclusions have recently been published.
In Quinn (London) Ltd v HMRC [2021] TC08321, the First Tier Tribunal (FTT) found that R&D undertaken as part of a larger project had not been subsidised and enhanced relief under the SME Scheme was available.
HMRC have released a call for evidence on 'Individual Savings Accounts: Compliance and Penalties'. It considers the implications of a failure to comply with regulations for all types of ISA. There is concern that the existing penalty provisions do not provide an effective deterrent to non-compliance.
Hello,
Basis year reform is the biggest and most confusing tax reform to hit Self Assessment, since, well, the introduction of Self Assessment.
In Victoria Carter & Peter Kennedy v HMRC [2021] UKUT 0300, the Upper Tribunal (UT) concluded that white space disclosure was insufficient to prevent a discovery assessment being raised by HMRC. The disclosure suggested that a tax scheme had been operated but did not provide details.
HMRC have published research into how businesses understand Research & Development (R&D) tax relief and their experiences when making a claim.
HMRC have published their Employer Bulletin for December 2021. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
HMRC have published a summary of responses to their consultation ‘Hidden economy conditionality – Northern Ireland and Scotland’, which closed earlier this year.
HMRC have published a summary of the responses to the Consultation: Making Tax Digital for Corporation Tax, which closed in March.