Hello
The draft clauses for the Finance Bill 2020 were published this week, items of key interest to SME advisers include the introduction of 'off-payroll working' to the private sector and restrictions on Capital Gains Tax (CGT) Private Residence Relief (PRR).
The House of Commons Treasury Committee have taken a close interest in the progress of Making Tax Digita for VAT. MPs have become concerned about the decreasing service levels on some of HMRC’s VAT helplines and new statistics reveal that average call times are increasing.
HMRC have published a new research report ‘Lifetime Gifting: Reliefs, Exemptions, and Behaviours’ into taxpayer awareness of the inheritance tax (IHT) rules and how it influences the making of lifetime gifts.
The first draft of Finance Bill 2020 has been published. The bill includes a number of measures previously announced at Budget 2018 and the recent Spring Statement and intended to take effect from April 2020, including:
Hello
The week: Self Assessment payment on accounts may be being calculated incorrectly, IR35 back in the tribunal, devolved tax penalties trip up, quasi directors and penalties and much more.
There have been problems with the self-assessment system and payments on account for 2018/19 which may result in some taxpayers facing larger than usual tax bills in January 2020.
In George Mantides Ltd v HMRC [2019] TC07202 the FTT reviewed the services of a hospital locum for the purposes IR35 and decided on a different outcome for each of two hospital contracts.
In Michael Robert Harrison and Sharon Ross v Revenue Scotland [2019] FTSTC 5 the Scottish tribunal again allowed an appeal against daily penalties for late filed LBTT returns; the law on penalties was not complied with.
In Mohammed Abdul Malik v HMRC [2019] TC07198 the FTT upheld a personal liability notice for VAT penalties issued to a company employee; he was a manager therefore an officer of the company.
In Begbies Traynor (Central) LLP v Revenue Scotland [2019] FTSTC 4 the Scottish First tier tribunal allowed an appeal against penalties for a late LBTT return; Revenue Scotland had not met the legal conditions to permit them to charge daily penalties.