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.
SME Tax News
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.
HMRC published a further consultation on interest and penalties, 'Making Tax Digital: Interest harmonisation and sanctions for late payment'.
In both Behsodi v HMRC [2017] TC6156 and Moore v HMRC [2017] TC6155 the First Tier Tribunal (FTT) was invited to consider whether HMRC had correctly implemented daily penalties. In both cases the answer was 'No'.
In Whitehill Pelham Ltd v HMRC [2017] TC06188 HMRC were barred from the proceedings for a complete failure to engage with the tax tribunal; as a result the taxpayers penalty appeal was allowed.
The online service for agents to register for an account so that they can deal with trust registrations for their clients, is now fully up and running.
HMRC have published new advisory fuel rates for company car drivers which will apply from 1 December 2017.
The new rates will be:
Engine size | Petrol | Diesel | LPG |
1,400cc or less | 11p | 7p | |
1,600cc or less | 9p | ||
1,401cc - 2,000cc | 14p | 9p | |
1,601cc to 2,000.cc | 11p | ||
Over 2,000cc. | 21p | 13p | 14p |
You can continue to use the old rates up to 31 December 2017, see Advisory fuel rates (company car drivers)
Related guides:
Company cars (subscribers only)
HMRC have issued a consultation document, 'VAT and Vouchers', which is the first step in the transposition of the EU Vouchers Directive 2016/1065, into UK VAT law.