HM Treasury has published its policy conclusions on proposals for a ‘Breathing space scheme’ for individuals suffering from problem debt together with proposals for a statutory debt repayment plan.
SME Tax News
In Kevin McCabe v HMRC [2019] TC7145, the First Tier Tribunal (FTT) held that HMRC was not required to disclose documents relating to a “mutual agreement procedure” with the Belgian tax authorities. They were not sufficiently relevant to establishing his tax residency position.
HMRC have published statistics on the use of tax-advantaged employee share schemes, such as Enterprise Management Incentives (EMI) for the 2017/18 tax year.
In Online Tax Rebate Ltd v HMRC [2019] UKUT 0167 the Upper Tribunal held that a company obtaining tax rebates for employees was a tax adviser under the Money Laundering Regulations; it should have undertaken customer identity checks.
In Curzon Capital Ltd v HMRC [2019] TC 6949 the FTT found that although the company was involved in notifiable tax avoidance schemes it was not the promoter.
HMRC has published the conclusions of their research into how best to communicate the introduction of a 30 day payment window for CGT on UK residential property from April 2020.
Hello
It is midsummer and it is sunny. 'I know a bank where the wild thyme blows...' and I am looking forward to a bit of gardening later. In the meantime let's talk some tax.
In Paul Wheeler v HMRC [2019] TC07164 the FTT granted a costs award against an unrepresented taxpayer for unreasonable behaviour; to be enforced in the future when he has sufficient funds.
HMRC have released additional guidance explaining how taxpayers using employment related disguised remuneration schemes can pay their loan charge direct.
Recent experiences with the HMRC Stamp Office suggest that it is struggling to keep up with the current volume of transactions following recent changes to the SDLT filing and payment window.