SME Tax News

Hello

Welcome to the start of another tax year. 

Non-UK-resident companies: from April 2019 Capital Gains Tax (CGT) moves to Corporation Tax (CT). One year later in 2020, the same companies cease also to be in self assessment in respect of their property income. Companies will need to register with HMRC for CT.

In William Richie & Hazel Richie v HMRC [2019] UKUT 0071 the Upper Tribunal found that HMRC was not entitled to make a discovery assessment outside of normal time limits as it had not actually established carelessness.

In William Richie & Hazel Richie v HMRC [2019] UKUT 0071 the Upper Tribunal found that HMRC was not entitled to make a discovery assessment outside of normal time limits as it had not actually established carelessness.

Hello

On the day that was supposed to be Brexit: we count down on the last chance to plan for old contractor/EBT loans, we look at tax and the family, we consider lots of deadlines, a bit of R & D and there is more news on Making VAT Digital.

HMRC has published details of the digital records it expects business who are mandated into Making Tax Digital for VAT 'MVD' to keep. This new guidance is probably sufficient (on the basics) for tax agents and bookkeepers but may be slightly baffling for un-represented taxpayers.