The ICAEW has reported that errors are being found in HMRC’s annual reconciliation of taxpayers’ PAYE records for 2017/18.
SME Tax News
HMRC have published their Employer Bulletin for August 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.
HMRC have published advisory rates for all electric company cars and now accept that if you pay up to 4 pence per mile when reimbursing your employees for business travel in a fully electric company car there is no profit for income tax or earnings for NI purposes.
In The Personal representative of Mark Collins v HMRC [2018] TC06597 the First Tier tribunal allowed executors to appeal discovery assessments issued to the deceased; the appeals were nearly four years late.
In William Martland v HMRC [2018] UKUT178 the Upper tribunal refused permission for a late appeal against an excise duty assessment and penalties for wrongdoing totalling £34,201.
Hello
Just a short newswire this week, we have some cases, we have some VAT and we also wonder why so many trusts are not reporting their ten year charges.
In J & L Benson Building Services Ltd [2018] TC6545 PAYE RTI penalties were cancelled by the FTT: the specimen copy of an assessment provided to the tribunal by HMRC was rendered invalid.
HMRC have recently released details of the value of assets held in UK taxpaying discretionary trusts at the ten yearly charge date, and have confirmed that information for more recent years is deemed to be incomplete because of delays by trustees in submitting accounts to HMRC.