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If you would like some lighter reading this week, look at HMRC's Top Ten Worst Excuses as used in unsuccessful appeals against late filing penalties last year.
Hello
If you would like some lighter reading this week, look at HMRC's Top Ten Worst Excuses as used in unsuccessful appeals against late filing penalties last year.
From 1 February 2016 UK businesses who provide wholesale telecommunication services to other UK businesses will no longer account for VAT on the transaction. Instead, the customer must account for VAT using the reverse-charge procedure.
HMRC has been forced to withdraw thousands of APNs in respect of a contractor Isle of Man tax avoidance scheme.
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The government's plans to force businesses to undertake quarterly reporting have received a blow this week. The success of an accountant's petition opposing the proposals has prompted a debate in parliament.
HMRC's List 3 which lists the professional bodies and learned societies with tax-deductible fees, has been updated.
See: Employers > Employee expenses > Fees and subscriptions to professional bodies.
In HMRC v Smith & Williamson Corporate Services and Patrick Smiley UKUT [2015], a payment received by a new employee from a third party in respect of his client connections was held to be employment income and not a capital payment in respect of any transfer of goodwill.
The government has announced that it will now debate the petition "Scrap plans forcing self employed & small business to do 4 tax returns yearly". A debate is required as over 100,000 people have signed.
HMRC's chief executive, Lin Homer, has announced that she is leaving her post. She is two years off retirement.