In HMRC v Execs of Mr Jeffrey Leadley [2017] UKUT 0111 the Upper Tribunal (UT) overturned the original decision of the First-Tier Tribunal (FTT) and found that Executors were not entitled to make a negligible value claim.
SME Tax News
HMRC have published a call for evidence: ‘Taxation of employee expenses call for evidence’ in respect of the use of income tax relief for employee business expenses, including those not reimbursed by employers.
William G Anderson v Revenue Scotland [2016] TTFT 1 and Classical Land and Property Limited v Revenue Scotland [2016] TTFT 2 are the first two decisions of the First-Tier Tax Tribunal for Scotland: both concerning penalties for late filing of Land and Buildings Transaction Tax (LBTT) returns.
If you are about to become deemed UK domiciled under the new rules, applicable from 6 April 2017, consider carrying out some pre-year end tax planning.
The Low Income Tax Reform Group (LITRG) is urging self-employed workers with very low profits to check their National Insurance record and make up any deficiencies before voluntary contributions become more expensive for them after April 2019.
UPDATED: Don’t file your 2016/17 tax return online: you may overpay your tax. HMRC has made a specification error which is affecting many Self Assessment taxpayers. The error applies to HMRC's own product or third party software.
What tax returns and claims are due before the end of the tax year?
The government has published a White Paper 'Legislating for the United Kingdom’s withdrawal from the European Union' this explains how the Great Repeal Bill will convert the body of EU legislation into UK law and then considers options, such as imposing restraints on delegated power.
In Schotten & Hansen (UK) Limited v HMRC [2017] TC05679 a taxpayer escaped a £28k penalty. Ignorance of the CIS rules was a reasonable excuse in relation to the use of foreign sub-contractors.
In William Reeves v HMRC [2017] TC05679, a US citizen’s claim for CGT hold-over relief on transfering his partnership interest to his own UK company was denied when applying wide-ranging tests for control in s416 ICTA 1988: his shareholding was attributed to his non-resident wife or children.