In his 2015 Autumn Statement the chancellor announced a new exemption from a loans to participators charge when loans are made by close companies to the trustees of charities.
SME Tax News
HMRC has published a consultation, Cash, tax evasion and the hidden economy: a call for evidence, it is seeking the views of businesses and individuals on the role of cash in the economy.
The chancellor gave his Autumn Statement on 25 November 2015 together with his spending review. This is our summary of tax-related issues in his speech.
In Burgess & Anor v HMRC [2015] the Upper Tribunal (UT) found that HMRC had failed to discharge its burden of proof in making discovery assessments.
In The Queen on the application of Ralph Hely-Hutchinson v HMRC, a taxpayer was successful in judicial review over HMRC's tax treatment of his Mansworth v Jelly loss claims.
The government has set out the steps it will take to make it easier for authorities to identify the beneficial owners of corporate entities; these steps include changes to Company Law and Money Laundering regulations, and the creation of a publicly accessible central register.
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This week we have a new client briefing on the changes to dividend tax, with worked examples for director-shareholders, an updated guide to the Social Investment Tax Relief, and a new guide to the IHT exemption for normal expenditure out of income.
In GDF Suez Teeside Ltd v HMRC [2015] TC04590 the FTT concluded that the company's accounts did not fairly represent its profits, despite them being prepared in accordance with GAAP.