HMRC has published partially completed details of a privacy impact assessment for the use of Voice Biometric Identification (Voice ID) technology. This aims to help reduce fraud and it seems entirely probable that it will be used in future, if HMRC manage more fully automated services.
SME Tax News
Hello
We have summarised the new VAT notice 700/22 on Making VAT Digital (MVD) for you and we have also made an update of our Making Tax Digital (MTD) index. All essential reading and freeview this time.
HMRC have published a policy paper, ‘Simplification of donor benefits rules for Gift Aid’ alongside Finance Bill draft legislation and a consultation response summary in respect of the proposed changes to the donor benefit rules.
Finance Bill 2019 contains measures to move UK property income for non-resident companies from income tax to corporation tax and HMRC has published a policy paper, ‘Corporation Tax: UK property income of non-UK resident companies’.
HMRC have issued updated guidance on the Requirement to Correct (RTC) legislation which sets out the different levels of mitigation for penalties for failure to correct and extends the deadline by 90 days in some circumstances.
HMRC have published an issue briefing ‘Disguised Remuneration charge on loans’ which includes more details about time to pay for individuals who have taxable income for 2018-19 of less than £50,000, plus more details about the number of people settling and the amounts collected so far.
HMRC has published a policy document ‘Income Tax and Corporation Tax: response to accounting changes for leasing’ together with a response to it’s consultation ‘Corporate Interest Restriction: Tax response to accounting changes for leasing’.
On 13 July 2018 the Chancellor wrote and asked the Office of Tax Simplification (OTS) to carry out a further review of the small business lifecycle.
- No change to PAYE code for flexi pension
- CIS and Corporation tax: Security against non-payment
- Nichola's SME tax W-update 13 July 2018
- Tax avoidance litigation scores: HMRC 23: Taxpayers 0
- 30 day CGT payment window for residential property: draft legislation
- Extending non-resident capital gains to commercial property