The Chartered Institute of Taxation (CIOT) have written an open letter to Phillip Hammond asking him to reform the way tax policy is made in the UK.
SME Tax News
A group of landlords have lost their High Court attempt to force a judicial review of legislation to reduce tax relief on buy-to-let interest payments from April 2017.
HMRC have launched a consultation ‘Penalty for participating in VAT fraud’. This proposes a new penalty for those that knew or should have known their transactions were connected with fraud.
HMRC's draft guidance on the new Northern Ireland Corporation Tax regime paves the way for a lower rate of Corporation Tax than the rest of the UK.
In Andrew Chappell v HMRC [2016] EWCA Civ 809 HMRC recorded their 10th successive victory on tax avoidance schemes promoted by NT Advisors, bringing the total tax protected to over £900m.
In Peter Browne v HMRC [2016] TC05331 a careless delay in transferring funds between pension plans led to an unauthorised payment charge for the taxpayer.
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Following Royal Assent of Finance Act 2016 we summarise the most important recent developments for SMEs and OMBs.
For our latest OMB update see Company Tax: What's new Aug/Sep 2017
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The Government has launched a consultation ‘Introducing a Pensions Advice Allowance: consultation’. This looks at allowing tax free draw down from pension schemes to cover the cost of financial advice.
HMRC have opened a consultation “Museums and galleries tax relief consultation” aiming to support museums and galleries and help them develop and display new exhibitions and collections.