SME Tax News

The government has announced plans to resurrect the new probate fee banding structure proposed in 2017.

In Vasco Properties Ltd v HMRC [2018] TC06801 the First Tier tribunal allowed an appeal against RTI late filing penalties; HMRC failed to show that the returns were late.

HMRC have published ‘Corporate Capital Loss Restriction: Consultation on delivery’ looking at proposals to restrict the use of carried forward capital losses for companies.

HMRC have published ‘Review of the corporate Intangible Fixed Assets regime: summary of responses’, which contains detailed proposals for partial reinstatement of relief for goodwill acquisitions.

HMRC have published ‘Tax abuse and insolvency: A discussion document – summary of responses’ confirming that legislation will be introduced to protect against loss of revenue for HMRC in insolvency cases.

HMRC have published ‘Digital services tax: consultation’, regarding the design and implementation of the new tax.