In Alexander Revell v HMRC [2016] UKFTT TC04887 the First Tier Tribunal (FTT) decided that an enquiry into an unsolicited Tax Return was not valid.
SME Tax News
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In this week's web-update we have our Employer's Update for March. Don't miss it. It's packed full of practical information and planning points for employers for the end of the year and getting started for the new one.
The House of Lords Economic Affairs Committee's report on the Draft Finance Bill 2016, raises a number of areas of concern.
In March 2016 the Office of Tax Simplification (OTS) published 'Closer alignment of income tax and national insurance contributions' its simplification review and identified 84 "misalignments and differences" between the two.
In March 2016 the Office of Tax Simplification (OTS) published its 'Small company taxation review'. It focused on making the tax system simpler for micro-companies with fewer than ten employees.
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As we mentioned back in January, the tax tribunal will soon be charging fees and this will make the task of appealing a minor penalty prohibitively expensive.
March 2006 saw a major change in the tax treatment of trusts, and as we head towards the tenth anniversary of this change many trusts created since then will have reporting obligations and potential IHT liabilities to consider for the first time.
In Viscount Hood, executor of the estate of Lady Diana Hood v HMRC [2016] T04858 an IHT avoidance scheme in granting a reversionary lease failed: the lease was a gift with reservation of benefit (GWR).