In Executors of Beryl Coulter v HMRC [2016] EWCA Civ 938 the Court of Appeal confirmed that a legacy to a Jersey charity is not an exempt transfer for inheritance tax.
SME Tax News
Doing an 'Eric Morcambe': HMRC's Tax Assurance Commissioner Jim Harra says that the five returns per year that taxpayers are required to submit under HMRC's Making Tax Digital (MTD) are not accounts.
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The US presidential election result 'trumped' all other news this week; it has certainly seemed like Brexit+++.
The OTS has published a progress report into its review “Simplification of the Corporation Tax Computation” along with a call for evidence.
In November 2016 the Office of Tax Simplification (OTS) published their final reports on small company tax reform, recommending that ‘Lookthrough taxation’ proposals be dropped but those for a new ‘Sole Enterprise with Protected Assets (SEPA)' trading vehicle be taken forward.
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The seven main tax and accounting bodies have sent a rocket through the tax avoidance industry by introducing guidance to prevent their members from promoting or creating tax avoidance schemes.
In Sarah Baylis v HMRC [2016] TC 05454 the First Tier Tribunal (FTT) found that care home fees paid by a company were a benefit in kind for the patient's spouse rather than her daughter.
In Mr Remi Ashton v HMRC [2016] UKFTT TC05456 the First Tier Tribunal agreed that the taxpayer was an employee and not a partner of a partnership.