The government has published a White Paper 'Legislating for the United Kingdom’s withdrawal from the European Union' this explains how the Great Repeal Bill will convert the body of EU legislation into UK law and then considers options, such as imposing restraints on delegated power.
SME Tax News
HMRC have published a response to their consultation ‘Partnership taxation: proposals to clarify tax treatment’.
What tax returns and claims are due before the end of the tax year?
In Schotten & Hansen (UK) Limited v HMRC [2017] TC05679 a taxpayer escaped a £28k penalty. Ignorance of the CIS rules was a reasonable excuse in relation to the use of foreign sub-contractors.
In William Reeves v HMRC [2017] TC05679, a US citizen’s claim for CGT hold-over relief on transfering his partnership interest to his own UK company was denied when applying wide-ranging tests for control in s416 ICTA 1988: his shareholding was attributed to his non-resident wife or children.
Technical tax professional wanted: working from home. We are looking for someone who is very strong in SME company / owner-managed business tax. Based working at home, part or full-time.
In BCM Cayman LP and various Bluecrest entities v HMRC, taxpayers were only partially successful in forcing HMRC to issue closure notices into long running and complex tax enquiries concerning the tax arrangements of hedgefunds.
HMRC have released the updated VAT Fuel Scale Charge rates, to apply from 1 May 2017.