HMRC have issued new guidance clarifying the corporation tax treatment for Personal Service Companies (PSCs) under the new public sector off-payroll working rules.
SME Tax News
A summary of the key new measures announced by the chancellor in his Spring 2017 budget.
HMRC have launched a new online form to apply for repayment of the higher SDLT rates for additional properties when you sell what was previously your main home.
In Promo International Limited [2017] UKFTT 0161, the First-Tier Tribunal (FTT) reduced the taxpayer’s penalty from deliberate to careless: a member of staff hid HMRC's correspondence from the Directors.
The live highlights as the chancellor Philip Hammond makes his first and last Spring Budget, keep refreshing to read more! MTD: postponed for small business by one year, NICs to increase for the self employed and dividend allowance decreases to £2k in 2018.
HMRC's CEST 'Check Employment Status for Tax'. This tool can be used by workers, agencies and engagers in order to determine whether a worker is employed or self-employed for tax purposes.
In Martin Clunes v HMRC [2017] TC05692 the tax tribunal decided that a well known actor did not have any special right to privacy in relation to an application made ahead of a potential tax appeal against the disallowance of cosmetic surgery as deduction from his trading profits.
In Simon Fry v HMRC [2017] UKFTT 0158 the First-Tier Tribunal (FTT) found, that in calculation of tax penalties for errors in a return, 'potential lost revenue' should be calculated with reference to the taxpayer’s future plans, such as becoming non-resident.
The Treasury have confirmed that Finance Bill 2017 will be published on Monday 20 March.
The CIOT have submitted comments to HMRC on the proposed new ‘limited cost trader’ category for the VAT Flat Rate Scheme: they recommend HMRC seek a different approach to tackling abuse of the scheme.