The deadline for paying the loan charge for employment related schemes such as Employee Benefit Trusts (EBT’s) and EFRBS is 19 April 2019 for cheque payments or 22 April for electronic payments.
SME Tax News
From 1 May 2019 HMRC are increasing their fees for money laundering supervision. If your business turnover is less than £5,000 you can apply for a ‘small business’ reduction.
In Ron Dennis v HMRC [2018] TC 6868, an indemnity clause in a shareholder’s agreement was held by the First Tier Tribunal not to be a guarantee that qualified for Loans to Trader Capital Gains Tax (CGT) relief.
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This week's web-update features some cases that continue to explore the dark world of ITEPA 2003 and the PAYE regulations. There is a new consultation on Private Residence Relief and an new VAT guide that might be more handy than you realise.
HMRC has published a consultation, 'Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs'. This follows the Budget 2018 announcements.
In Gerard Arthur Eccles v HMRC [2019] TC6978, the first tier tribunal held that tax relief for a payment under a personal guarantee may only be made in the tax year in which it was paid.
In Big Bad Wolff Limited v HMRC [2019] UKUT121, the Upper Tribunal (UT) upheld the decision of the FTT finding that the special rules for actors prior to 6 April 2014 did not circumvent the deeming provisions of IR35.
In Christianuyi Limited & Others v HMRC [2019] WECA Civ 474 the Court of Appeal confirmed that the UT and FTT were correct in finding that a business (Costello Building Services Limited - 'Costello') which was set up to facilitate workers to provide their services via managed personal service companies was a Managed Service Company (MSC) provider.