In Phillip Marsh and David Price v HMRC [2016] UKFTT TC05288 the First Tier Tribunal (FTT) found that two directors were liable for PAYE that should have been deducted from their salaries shortly prior to their company’s failure.
SME Tax News
Chancellor Philip Hammond will deliver his first Autumn Statement on Wednesday 23 November 2016, this will outline proposals for Budget 2017.
Employers and agents no longer have to submit a paper form P11D(b) to HMRC if they have not submitted any P11D forms.
HMRC has begun contacting registered childcare providers inviting them to sign up online to make sure that they are eligible to receive payments from the tax-free childcare accounts being introduced from early 2017.
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In Kujtim Gjoci v HMRC [2016] UKFTT TC05325 a plumber who did not keep records had a good break on tax penalties. Apart from quoting the wrong legislation First Tribunal (FTT) did not spot that penalties for a deliberate error are not normally capable for suspension
In Jerome Anderson v HMRC [2016] UKFTT TC05314, the First Tier Tribunal (FTT) denied a football agent relief for trading losses: if he was carrying on a trade, then it was not on a commercial basis with a view to making profits.
In Eric Eastman V HMRC [2016] TC05276, the First Tier Tribunal (FTT) allowed suspension of a penalty for a one-off capital gains tax (CGT) error. The taxpayer’s accountant made the mistake and he created to new systems to prevent re-occurrence.