As the climate change protesters Extinction Rebellion (XR) hit the streets in unprecedented numbers what can you do and, what tax incentives are currently on offer, to assist you in running a more climate friendly business?
SME Tax News
The government have published their response to the Treasury Sub-Committee's report 'Disputing Tax' which covers how HMRC deals with tax avoidance and evasion and their approach to conducting tax enquiries and resolving tax disputes.
Annual figures released by HMRC show a substantial increase in the value of patent box and Research and Development (R&D) relief claims for 2016/17 and suggest there could be a reduction in claims for 2017/18.
In Brian Abrams and Eric Abrams v HMRC [2019] TC7288 a claim to grant an indefinite stay for an appeal based on the fact that too much time had passed, the taxpayers’ were now too old, and evidence had gone missing, failed.
In David Sinclair v HMRC [2018] TC6873 an accountant's claim for post cessation trade relief in defending a negligence claim was partly allowed, his claim to have created a trust in order to fund the compensation potentially due failed on basic principles.
The Law Society and ATT have again expressed concern that the draft legislation which extends the off-payroll working rules to the private sector fails to protect parties who are not at fault from secondary PAYE liabilities.
HMRC's latest Employment Related Securities Bulletin contains some handy tips. Here is our enhanced version.
In Alberto Nader, Alison Nader, Harold Dickins & Ors v HMRC [2019] TC06524 the First Tier Tribunal found that a series of transactions designed to reduce the deceased's estate by creating a loan to an offshore trust was ineffective in reducing the IHT due on her death.
The Financial Reporting Council (FRC)’s new chairman has promised faster implementation of the government-endorsed recommendations from last year’s ‘Independent Review of the Financial Reporting Council’. The review excoriated the current audit regime and recommended setting up the Audit, Reporting and Governance Authority (ARGA) .
The GAAR Advisory Panel has published an opinion on a number of schemes aiming at extraction of cash/value from a company by its directors/shareholders using Employee Shareholder shares and they conclude that the planning is unreasonable and therefore inconsistent with government tax policy.