HMRC's List 3 which lists the professional bodies and learned societies with tax-deductible fees, has been updated.
See: Employers > Employee expenses > Fees and subscriptions to professional bodies.
SME Tax News
In HMRC v Smith & Williamson Corporate Services and Patrick Smiley UKUT [2015], a payment received by a new employee from a third party in respect of his client connections was held to be employment income and not a capital payment in respect of any transfer of goodwill.
The government has announced that it will now debate the petition "Scrap plans forcing self employed & small business to do 4 tax returns yearly". A debate is required as over 100,000 people have signed.
HMRC's chief executive, Lin Homer, has announced that she is leaving her post. She is two years off retirement.
This is our year-end and new tax year tax checklist for 'Private Clients', it can be used in conjunction with our checklists for Directors, Employers and self-employed individuals.
The government is to proceed with the introduction of fees in the Tax Chamber of the Tribunal Service despite the strong opposition to the proposals.
The government's plans to make all the self employed report to HMRC on a quarterly basis are proving to be deeply unpopular with taxpayers. A petition against the measure has attracted over 105,000 signatures in a matter of weeks.
The government has introduced new tax penalties, offences for tax evasion and new powers for data collection. All measures are included in the Finance Act 2016.
HMRC have issued their Employer Bulletin for December 2015, and we have summarised all of the key content for you, which includes a number of tips from HMRC to avoid mistakes in PAYE reporting and payment.
The Finance Secretary has delivered his budget statement to the Scottish Parliament this afternoon and announced that the Scottish Income Tax Rate will be set at 10% for 2016/17.
The effect of this is to ensure that Scottish Taxpayers will pay tax at the same rates as their counterparts in the rest of the UK, at 20%, 40% and 45%.