The Low Incomes Tax Reform Group (LITRG) is urging tax credit claimants who have submitted estimates of their 2015/16 income to confirm or update their estimates by 31 January 2017 to ensure they have received and continue to receive the right amount of support.
SME Tax News
In Mark Wickersham v HMRC [2016] EWHC 2956 the High Court held that no tax repayment was due as HMRC had given notice of their intention to enquire into a share loss relief claim.
In Knight and Knight v HMRC [2016] TC05544 incorrect calculation of foreign gains under the LDF led to a discovery assessment and enhanced tax penalties.
HMRC have published a response to their consultation earlier this year on ‘Corporate contributions to grassroots sports’.
What a year 2016 has been in the world of UK tax. Here is our run down of the top 10 developments and events.
The Chancellor will deliver the Spring Budget on Wednesday 8 March 2017.
The Office of Tax Simplification have published a paper ‘Focus on the ‘Gig’ economy: What does it mean in terms of tax.’
HMRC have published a response to their consultation earlier this year on ‘Part surrenders and part assignments of life insurance policies’.
The Office of Tax Simplification (OTS) have published terms of reference for their reviews ‘Stamp duty: review of remaining paper duty on shares etc.’ and ‘VAT General Simplification Review’.