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.
SME Tax News
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.
At a glance
What is the optimal monthly or weekly salary that can be paid by an employer without incurring a liability for employer or employee National Insurance Contributions (NICs)?
HMRC have published new advisory fuel rates for company car drivers which will apply from 1 March 2017.
HMRC have introduced a new online service for appealing against late filing penalties for 2015/16 tax returns.
From 24 April 2017 the existing Scottish Tax Tribunals have been reorganised.
HMRC have issued their Agent Update for February / March 2017: we have summarised the key content for you with links to our detailed guidance on the topics covered.
Extra-statutory concessions (ESCs) covering input VAT prior to insolvency, non-resident trusts and inheritance tax on woodlands will be enacted into legislation from 6 April 2017.
The ICAEW have published Tax Representation 15/17 ‘Workers’ Services provided to public sector through intermediaries’. It highlights a number of concerns with the proposed changes for Personal Service Companies (PSCs) working in the public sector, and suggests that they be postponed until 2018.