SME Tax News

I note from HMRC's website that it seems surprised by the high demand for Annual Schemes under RTI. This strikes me as a very worrying admission following the lobbying by all the tax bodies for a relaxation in RTI reporting for smaller employers.

This time we have an interesting case featuring spouses and family joint bank accounts. Definitely worth a read if you are advising on the taxation of joint bank accounts.

The volume of new legislation contained in the 2013 Finance Bill and added by Budget 2013 is eye-watering for SME advisers. Fear not, we have now updated our rolling CPD planner. This provides us with a summary of the key tax developments and announcements which will affect the world of SME tax between 2012/13 to 2014/15. I can't live with out it and I even have it on my Kindle - a great way to stay up to date with the new rules for each area of tax.

In Dr A Gayen V HMRC [2013] TC02556 a doctor made a successful appeal against an assessment for a PAYE underpayment and penalties, after his employer operated the wrong tax code and HMRC failed to issue the appropriate direction notice. 

PA Holdings v HMRC: the Court of Appeal decided that when a bonus is structured as dividends it can be taxed as employment earnings for both PAYE and NICs. The company withdrew its appeal to the Supreme Court on 11 April 2013.

From April 2013 under measures introduced in the 2013 Finance Act office holders will become within the scope of IR35.