As announced in the 2017 Autumn budget, a new consultation has been opened in respect of the Corporate Intangible Fixed Assets regime.
SME Tax News
HMRC have extended the deadline for claiming reimbursed Research and Development (R&D) expenses to 30 April 2018.
HMRC have published their Employer Bulletin for February 2018. We summarise the key content for you, with links to our detailed guidance on the topics covered.
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In its response to the 'Taylor Review of Modern Working Practices', the government confirms that it has no plans to align NICs rates between the self-employed and the employed. The development of a statutory employment status test does look increasingly likely.
As part of their response to the 2017 Taylor Review of Modern Working Practices the government has opened a new consultation into Agency Workers Recommendations.
In HMRC v Raymond Tooth [2018] UKUT 0038 (TCC), the Upper Tribunal (UT) decided that the extended discovery time limit for deliberate error did not apply and also, there was no discovery. Spoiler alert: this case was appealed on by HMRC to the Supreme Court who agreed on the time limit but disagreed on the staleness point.
HMRC have published the Summary of Responses to Extra Statutory Concessions – Eighth Technical Consultation on Draft Legislation, which addressed four extra-statutory concessions (ESC) and ran until 9 December 2017.
HMRC have published Draft Legislation: The Income Tax (Pay As You Earn) (Amendment No ***) Regulations 2017, which updates the PAYE Settlement Agreement (PSA) process and make it easier and simpler to administer.
From 14 February 2018 tax free childcare is open to all eligible families regardless of the age of the youngest child.
As part of their response to the 2017 Taylor Review of Modern Working Practices the government has opened a new consultation into Employment Status.