In Eric Scowcroft v HMRC [2018] TC6527 a New Zealander's appeal against late filing penalties in respect of a Non Resident Capital Gains tax return was successful. He was unaware of the new filing requirement and his conveyancing solicitor did not point it out.
SME Tax News
HMRC have opened a new consultation “Discussion Document on HMRC’s anti-money laundering supervision fees".
Following the Bank of England’s decision to increase the base rate, HMRC have announced that their late payment interest rate will increase by 0.25% to 3.25% with effect from 21 August 2018.
In SSE Generation Ltd v HMRC [2018] TC06618 the First Tier tribunal (FTT) held that some of the expenditure on constructing a hydroelectric power scheme was eligible for capital allowances as plant; the rest was specifically excluded by CAA 2001.
The Low Incomes Tax Reform Group (LITRG) is reminding students who have been working over the summer to make sure they have not overpaid tax and, if they have, to claim a refund from HMRC.
Finance Bill 2019 includes proposals which will reduce the deadline for paying SDLT and filing the SDLT return from 30 days to 14 days.
A freedom of information (FOI) request obtained by The Times newspaper reveals that HMRC is vetting celebrities before they are awarded honours. The move is controversial as HMRC is not normally allowed to share personal data.
Finance Act 2019 enables employers to pay certain subsistence expenses without needing to check or retain employee's receipts.
- Nichola's SME Tax w-update 31 August 2018
- Late filing penalties CGT: taxpayer delay
- Late filing penalties, CGT returns: Is ignorance of the law(yers) a valid excuse?
- Emergency vehicle benefit in kind exemption: Finance Bill 2019
- Car benefit proposals: Finance Bill 2019
- Relief for self-builders on sale of private residence