Instead of requesting a cash repayment of overpaid tax credits HMRC will where circumstances permit now reduce current tax credits awards in order to repay outstanding debts from previous claims. Depending on a person's circumstances, outstanding overpayment(s) may be from one or more previous awards.
SME Tax News
The Pensions Regulator has already fined employers for failing to comply with the Workplace Pensions rules in the quarter to September 2014. It warns that some employers are not aware that the new rules apply to them.
In Exec of Mr Jeffrey Leadley v HMRC TC04007 the tribunal examined who could make negligible value claims in respect of share losses on death.
On 1st October 2014 changes were made by the Inheritance and Trustees' Powers Act 2014 that affected the intestacy rules as well as the definitions of chattels for probate. From February 2020 further changes were introduced.
In Richard Hurst v HMRC [2014] TC0403 a taxpayer successfully claimed that he was a "disguised" employee in order to claim CGT Entrepreneurs' Relief. His claim to be a de facto director failed.
Two cases on Capital Gains Tax Private Residence Relief (PRR): one where the timely use of a main residence election would have saved the day, and the other where a property did not qualify as a "residence".
Silly VAT facts: Snowballs are cakes, Flapjacks are cakes, Morrison's Blue Berry Muffin, Banana Bread, Ginger Bread and Lemon Drizzle Nak'd bars are confectionary, and not cakes.
HMRC's RTI reporting for PAYE appears to have massive teething problems according to a leaked document. Millions of taxpayers on PAYE have had their taxes calculated incorrectly by HMRC for 2013/14.
In Richard Anthony Moxton v. Litchfield & Ors [2013] the court confirmed a company's bad leaver provisions and constitution when there were conflicts in drafting between the Shareholders' Agreement and Articles of Association and questions as to the legal enforceability of other agreements which might also affect the Articles.
In its continuing efforts to clamp down on the practice of “disguised self-employment” HMRC is proposing the introduction of a new quarterly reporting regime for agencies and intermediaries who supply self-employed workers.