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SME Tax News
In D Nnaji v HMRC [2017] TC06233 the tribunal cancelled late filing penalties: no notice to file a tax return was delivered to the taxpayer and HMRC was out of time to assess the penalties.
In Johnston v HMRC [2017] TC06238, the First Tier Tribunal (FTT) held that no penalties were due as HMRC had sent the notice to file to the incorrect address.
Following the introduction of the Trust Registration Service (TRS) in 2017, HMRC have issued more guidance about how to deal with existing trusts, access for agents who cannot use the online system and 2016/17 tax returns for new trusts.
Wales will introduce the Land Transaction Tax (LTT), its own version of Stamp Duty Land Tax (SDLT), in April 2018 but the lower threshold for the tax has already been reduced by the Welsh Government.
HMRC has published a summary of responses to ‘Fraud on provision of labour in the construction sector: consultation on VAT and other policy options’. It includes details of a new domestic reverse charge.
Hello
It's been a busy start to the new year and with tax return season in full swing. We hope you will find our 2016/17 tax return toolkit really useful.
Wishing a Prosperous New Year to all our subscribers and readers.
Following the introduction by Finance Act (No2) 2017 of the disguised remuneration loan charge with effect from 6 April 2019, HMRC have issued guidance on how to make an application to postpone the charge.
Happy New Year.
We start the year with Agent and Employer updates and consultations from HMRC.