SME Tax News

HMRC have decided to relax Real Time Information (RTI) reporting requirements for micro employers until April 2016. A survey of tax agents and employers have reported that RTI has added to their administrative burdens and costs.

These updates will all appear in our next web-update - have a sneak preview.

Where two companies are controlled by the same individual participators the two are associated as they are under common control. We recently pointed out that some people are forgetting that any offshore company which is undertaking any trade or investment business should be included when you consider whether a UK company has associates. A new point has come up, as follows:

If you have clients who have made carry back loss claims only to find that HMRC have withheld repayment, then you might be interested in the outcome of the Cotter case before the Supreme Court. The judgment came with its own Press Release whereby Lord Hodge helpfully provided his own "top tips" on how to ensure that you obtain a refund before any enquiry is completed. I've prepared a case summary for you.

Let property: no capital allowances on plant and machinery - that includes integral features. We note errors in several tax publications which advise that capital allowances are available to property letting landlords. We also note that HMRC have also updated their guidance which states that no allowances are available.

In Cotter v HMRC [2013] UKSC 69 the Supreme Court has found that HMRC was correct to withhold repayment of tax pending an enquiry following a claim made for a carry back of loss relief.