Following the Autumn Budget 2017, HMRC have published ‘Taxing gains made by non-residents on UK immovable property - consultation’. This follows the chancellor's announcement that non-resident capital gains tax will be extended to include all UK property.
SME Tax News
The Government asked the Low Pay Commission to make recommendations for the National Minimum Wage rates such that they are set as high as possible without causing unemployment effects.
In C King v The Sash Window Workshop Ltd [2017] EUECJ C214/16 the European Court has issued its preliminary ruling that a worker is entitled to payment for holiday not taken and where the opportunity to take paid leave has been denied, entitlement continues until they have been given the opportunity to take it.
The Treasury has published 'Financing growth in innovative firms: consultation response', a summary of responses to its patient capital consultation this summer. Respondents recommend more incentives to encourage patient capital investment, including removing connected party rules to encourage individuals to invest in their own enterprises.
The chancellor, Philip Hammond presented his Autumn 2017 Budget on 22 November 2017. This summary covers his key new tax announcements.
The chancellor, Philip Hammond presented his Autumn 2017 Budget on 22 November 2017. These are our highlights of his live speech.
HMRCs consultation, 'Draft legislation: The Income Tax (Pay As You Earn) Regulations 2017', in respect of car data reporting for payrolled benefits and changes to optional remuneration arrangements closed on 28 November 2017.
The Office of Tax Simplification (OTS) have published a review of VAT, 'Value added tax: routes to simplification'. The European Commission has also published an impact assessment on simplification.
In April 2019 all outstanding loans from disguised remuneration schemes will become subject to an income tax and NIC charge under part 7A ITEPA 2003.
In Barclays Wealth Trustees (Jersey) Limited and Michael Dreelan v HMRC [2017] EWCA Civ 1512 the Court of Appeal (CA) considered whether assets transferred between trusts could be excluded property.