SME Tax News

HMRC have published their response to the 2015 consultation 'Simplification of the tax and National Insurance treatment of termination payments' together with draft legislation for consultation, to implement their proposed changes.

HMRC have launched a consultation ‘Tackling disguised remuneration’ which includes more details on the changes to be introduced in Finance Bill 2017 together with some draft legislation.

As part of its program in Making Tax Digital (MTD), HMRC has published ‘Making Tax Digital: Bringing business tax into the digital age’, a consultation that considers reporting timings, software requirements and what businesses and their accountants will need to do.

As part of its program in Making Tax Digital (MTD), HMRC has published ‘Making Tax Digital: Tax administration’,  this consultation proposes changes to tax administration, i.e. HMRC's powers and penalties, required in Finance Bill 2017 to deliver MTD. 

HMRC have launched a consultation 'Simplified cash basis for unincorporated property businesses', part of the Making Tax Digital package of consultations.

HMRC have launched a consultation 'Simplifying tax for unincorporated businesses', part of the Making Tax Digital (MTD) package of consultations. 

HMRC have launched a consultation Stamp duty land tax: changes to the filing and payment process.  This includes a reduction in the filing and payment window from 30 days to 14 days from 2017-18 onwards.

HMRC have launched a ‘Consultation on salary sacrifice for the provision of benefits in kind’.  This proposes to limit the tax and NIC advantages for certain benefits in kind (BIKs) provided under salary sacrifice and similar arrangements.

HMRC have launched a consultation Alignment of dates for ‘making good’ on benefits-in-kind.  This proposes a simpler set of deadlines for employees to make good the cost of benefits in kind (BIKs).