The Association of Taxation Technicians (ATT) has expressed serious concerns about the £5,000 dividend allowance, announced in the Summer Budget.
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After over a month of confusion following the Summer Budget as to how the government's new proposals for dividend taxation from 2016/17 will work, HMRC has now published a Dividend Allowance Factsheet with more detail and illustrative examples.
In Malcolm Scott v HMRC (2015) TC04455 the FTT considered whether gifts of paintings by parents which then remained in their home were effective for Inheritance Tax (IHT) purposes.
In Mark Holmes & Trudie Holmes v HMRC (2015) TC04467 the failure to prohibit the private use of company vehicles led to a director being assessed for employee benefits for five company cars.
In James Smith v HMRC (2015) TC04592, the First Tier Tribunal (FTT) agreed that personal bank statements could be included in a Schedule 36 information notice because they contained transactions pertaining to a property business.
In Poole Leisure Ltd v HMRC (2015) TC04315 the first tier tribunal (FTT) upheld an assessment made against an employer who had undercharged income tax to an employee due to a processing error.
In Rowe, Worrall and others v HMRC [2015] EWHC 2293, members of a large film partnership have been unsuccessful in their application for judical review of Accelerated Payment Notices.
In Anthony Hardy v HMRC (2015) TC04444, a taxpayer failed to claim Capital Gains Tax (CGT) loss relief on a lost property deposit. This decision has since been confirmed by the Upper Tribunal.
The government have published a consultation on employee termination payments: Simplification of the Tax and National Insurance Treatment of Termination Payments. It follows a review by the Office of Tax Simplification (OTS).