The government has published Call for evidence - rent a room relief, aimed at obtaining information as to how it is used, whether it works as intended and what alternatives their might be.
SME Tax News
Due to the delays in opening the new online trust registration service for agents, HMRC have yet again extended the deadline for filing information about existing trusts.
HMRC has published a response on 'Tax-advantaged venture capital schemes – streamlining the advance assurance service'. Following its recent consultation on the advance assurance service for tax-advantaged venture capital schemes.
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This time we have news on Making Tax Digital, tips on Entrepreneurs' Relief, news on trusts and some interesting cases.
HMRC ran a consultation from 11 November 2016 to 3 February 2017 on Simplifying the Gift Aid donor benefits rules and has now published its summary of responses.
HMRC have released new guidance for overseas contractors and subcontractors who will need to be aware of the Construction Industry Scheme (CIS) rules.
On 1 December 2017, HMRC published 'Royalties Withholding Tax - consultation'. It proposes extending the rules imposing withholding tax (WHT) on royalty payments made to non-UK residents.
HMRC have published a response to their consultation 'Making Tax Digital – sanctions for late submission and late payment', which includes details of the new points-based penalty system for late returns.