In JP Whitter (Water Well Engineers) Limited v HMRC [2018] UKSC 31, the Supreme Court (SC) agreed that HMRC did not have to consider the wider impact on the taxpayer’s business when cancelling its Construction Industry Scheme (CIS) gross payment status.
SME Tax News
The Office of Tax Simplification (OTS) has published its review of ‘Accounting depreciation or capital allowances? Simplifying tax relief for tangible fixed assets’, which considered replacing capital allowances with depreciation.
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We have lots of updates this week as well as the next in our series of A-Z expense guides, this time looking at Artists.
HMRC has announced it is continuing its RTI penalty concession. Employers have an extra three days to report their payrolls online until April 2019.
HMRC have published their Employer Bulletin for June 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.
Following its establishment in October 2017, the Charity Tax Commission are undertaking a full review of the tax system for charities. The ‘Charity Tax Commission – call for evidence’ has been published to assist with the review.
In Bayonet Ventures LLP and R K Howard v HMRC [2018] TC06493 a loan made by the Bayonet Ventures Pension scheme to the LLP was held not to be a loan to the LLP members and not an unauthorised member payment from the scheme.
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This week we have a mixed bag after another busy week. Following the end of the registration period for the disguised remuneration settlement opportunity it seems that HMRC are keeping this open for the time being and we have been receiving lots of queries about contractor loan schemes and EBTs.
HMRC have now extended the Making Tax Digital (MTD) pilot for income tax to landlords.
In Leekes Ltd v HMRC [2018] EWCA Civ 1185 the Court of Appeal agreed that corporation tax losses brought forward from a transferred trade could not be used against the future profits of the successors enlarged trade.