HMRC have announced that from 1 November 2017 they will no longer be accepting forms CT600 where the attached accounts or tax computations are not in iXBRL format.
SME Tax News
In Patsy-Anne Saunders v HMRC [2017] TC6173: an appeal against penalties for late filing of a Non-Resident's CGT return upheld on the basis that ignorance of this piece of tax law is a reasonable excuse.
Government statistics have revealed the number of companies and amount of funding raised under EIS, SEIS and through Social Investment Tax Relief.
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In Alan Twaite v HMRC TC06033, the First Tier Tribunal (FTT) considered whether reliance on an adviser was a reasonable excuse for late notification of enhanced protection for a pension scheme.
HMRC have published their Employer Bulletin for October 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Munatsi Logistics Ltd v HMRC TC0653, the First Tier Tribunal (FTT) rejected an appeal against HMRC’s decision to refuse the appellant registration under the Money Laundering Regulations 2007.
In Innovate Commissioning Services Limited v HMRC [2017] TC 06152, the First Tier Tribunal (FTT) followed the precedent in X-Wind Power to deny SEIS relief where the incorrect forms were filed.
In HMRC v Root2 Tax Ltd [2017] TC 06115, the First Tier Tribunal (FTT) found that an employee reward scheme did meet the criteria for disclosure under DOTAS and should have been disclosed by the promoters.
In Ventura UK Ltd v HMRC TC06028, the First Tier Tribunal (FTT) considered whether a credit to the director’s loan account in respect of salary had been paid and so should be subject to PAYE.