In August 2016 HMRC have publish their response to the six consultations on Making Tax Digital (MTD). We note that they underestimate the real impact costs of making the self-employed and landlords file five tax returns per year.
SME Tax News
In Lars Sjumarken v HMRC [2016] UKUT 0568 the Upper Tribunal (UT) held that the value of lost share options could not be used to reduce taxable income on termination of employment.
HMRC have published a response to their 2016 consultation on ‘Strengthening the Tax Avoidance Disclosure Regimes for Indirect Taxes and Inheritance Tax’.
HMRC have published a response to their 2016 consultation on ‘A penalty for participating in VAT fraud’.
In G Nonyane v HMRC [2017] UKFTT TC05577, the First-Tier Tribunal (FTT) found that the discovery assessment issued to a taxpayer claiming not to know about the new High-Income Child Benefit Charge (HICBC) was valid.
Ahead of the 31 January filling deadline HMRC have released a list of the most outlandish expense claims they saw in 2014/15.
HMRC's ATED online service is now open for registration ahead of the 30 April filing deadline.
In RS Dhillon and GP Dhillon Partnership v HMRC [2017] TC 05583 the First Tier Tribunal (FTT) found that lorry drivers were employees and not self-employed.
The government has published a response to the consultation ‘Limited Partnerships: Reform of Limited Partnership Law’. The consultation examined how to limit the risk of misuse of limited partnerships and ways in which laws could be updated.
HMRC have published a response to their consultation earlier this year on ‘Tax deductibility of corporate interest expense’.