The Department for Business, Energy & Industrial Strategy (BEIS) has issued a new consultation looking at the misuse of limited partnerships and reforming the law in this area.
SME Tax News
Rajesh Gill v HMRC [2017] TC06477 the FTT decided that share dealing could be a commercial trade in respect of side-ways loss relief, it also considered a procedural point: could HMRC 'ambush' the tribunal with late evidence? The answer that was expensive for HMRC.
The Treasury Committee has launched a call for evidence in respect of four areas: VAT and the tax gap, VAT and Brexit, VAT and business and VAT and good tax policy.
An inquiry has been launched by the Treasury Sub-Committee into the progress made by HMRC in recent years in dealing with tax avoidance and evasion.
The Treasury Sub-Committee has recently opened an inquiry into the conduct of tax enquiries and the resolution of tax disputes.
British Overseas Territories may be required to establish public registers of beneficial ownership in 2020. A new clause was added to the new Sanctions and Anti-Money Laundering Bill with cross-party support and was accepted by the Government and was added to the Bill without a vote.
Hello
Welcome to our bumper bank holiday weekend edition. We have a Private Client update which covers all the changes since 6 April with links to topical cases that cover just about everything that you have never thought about in tax.
In Hunters Property PLC v HMRC [2018] TC06354 shares issued failed to qualify for EIS as the company controlled a company limited by guarantee, it was a subsidiary but the lack of share capital meant it was non-qualifying under the EIS rules.
- High-Income Child Benefit Tax Charge: No Discovery
- Aligning the tax treatment of Islamic finance: CIOT submission
- OTS publish IHT call for evidence
- Injury to feelings compensation tax free until April 18
- The UK's first Autonomous Motorcycle: an R & D hit
- Personal representative personally liable for IHT