HMRC have launched a quick consultation, closing on 16 October 2015, as to how the new residence nil rate band (RNRB) should be introduced so that individuals are not disincentivised from downsizing or selling their property.
SME Tax News
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I was interested to hear on the radio this morning that at least one employer has already found a way to minimise its costs under pensions Auto-enrolment.
The National Minimum Wage increases to £6.70 on 1 October 2015.
In Chapter Trading Ltd v HMRC [2015] TC04626, an employer was held liable for PAYE failure: its software failed to deduct any tax from an employee's wages and the employer did not investigate the issue.
In Mark Carey v HMRC [2015] TC04634, the taxpayer successfully claimed share loss relief after HMRC had doubted his intentions over residency.
Don't forget the ATED Return Deadline: returns for properties falling within the new £1 million to £2 million band are due by 1 October 2015
In PML Accounting Limited v HMRC [2015] TC04612 the First Tier Tribunal (FTT) upheld the company's appeal against penalties issued for failure to comply with a Schedule 36 information notice on the grounds that it was invalid. The notice did not relate to the tax position of the company but to the tax position of its clients.
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This week we have a mini update on Scottish Taxes together with a couple of topical case reviews. We will be back next week with our usual web-update mix of news, case reviews and practical guides.