SME Tax News

HMRC has recently updated its guidance on legal title and beneficial ownership of jointly held property. We have summarised the position below:

Wading through the sea of this summer's tax consultations we find that the Office of Tax Simplification is considering radical changes to small business taxation.

The Office of Tax Simplification is considering whether there is any merit in the introduction of some form of disincorporation relief in a new discussion paper: "Disincorporation of small companies".

The Office of Tax Simplification (OTS) has published two discussion papers on small business taxation as part of its ongoing review process. 

"A simpler income tax for the smallest businesses: a discussion paper", looks at how income tax may be simplified for the smallest business.

The two main tax professional bodies have given heavily qualified support to HMRC’s plans for a system of enrolment of professional tax agents.

The Government is currently consulting on draft legislation intended to ensure that taxpayers cannot rely on double taxation agreements (DTAs) to avoid tax.

↑ Back to top

© 2020