The government have issued draft legislation for consultation on the creation of a register of beneficial owners of overseas entities owning UK property intended to take effect from 2021.
SME Tax News
HMRC have released more statistics showing the number of non-UK domiciled taxpayers and the amount of UK tax they have paid; based on their estimates the number of non-doms in the UK decreased by 24% for 2016/17 compared to the previous year.
Are the major social media platforms nurturing malignant and dark forces that aim to disrupt our democracy? Quite possibly, according to the findings of the House of Commons select committee for Culture, Media and Sports in its Interim report, ‘Disinformation and ‘fake news’’.
Hello
I have been reading over a few of HMRC's research findings this week and some of the results must be pretty shocking for them.
HMRC have published the results of a number of its different research projects. They all look at digital services, in particular the public's perception of the Personal Tax Account (PTAs), Digital Tax Account (DTA) and attitudes to digital contact in general.
In Maurice and Shirley Bell v HMRC [2018] TC06575 taxpayers were unsuccessful claiming CGT roll over relief under s152 TCGA 1992 on the disposal of a farmhouse constructed on their farmland for their son. The building was not used only for the trade.
How many people are employed in the UK? It's a good question, and Pay As You Earn (PAYE) is the biggest source of tax revenue its useful for setting the nations tax budget. According to HMRC'snewly published Experimental Statistics it is just under 33 million in 2017-18.
In Patricia Lam v HMRC [2018] TC6540 a taxpayer found that the fact that you stay a few nights in your property in a sleeping bag is unlikely to convince a tax tribunal that a property is your only or main residence.