HMRC has regularly been updating ‘List 3’; its list of approved professional organisations and learned societies. Many new organisations have been added over the last six months.
SME Tax News
Over 30 countries have created and implemented so-called 'Fiscal Till Systems' to crack down on tax fraud by Electronic Suppression of Sales (ESS), but the UK shows no sign of following suit. Is the slow-burning rollout of Making Tax Digital into a direct tax to blame?
A consultation on ‘Simpler corporate reporting’ considers amending the scope of the company size definitions. This aims to benefit up to 43,000 medium-sized companies and 2,000 large companies. These are separate proposals to the Companies Act changes already announced for implementation in October 2024.
In Mr Benoit d’Angelin v HMRC [2024] TC09186, the First Tier Tribunal (FTT) dismissed the appeal on the grounds there was an extraction of value under the legislation on the Remittance Basis.
In HMRC v Basic Broadcasting Limited [2024] UKUT 00165, the Upper Tribunal (UT) decided that presenter Adrian Chiles' Personal Service Company, Basic Broadcasting Limited was within IR35. This leaves the presenter exposed to a combined Income Tax and National Insurance Contributions liability of over £1.7m.
Continuing their current campaign of one-to-many letters, HMRC have begun issuing another, this time concerned with Electronic Sales Suppression (ESS).
In Afzal Alimahomed v HMRC [2024] TC09178, the First Tier Tribunal (FTT) found that a taxpayer had accidentally converted 'clean capital' into mixed funds in terms of the remittance basis and then had accidentally remitted funds by using an offshore credit card in the UK by purchasing goods in the UK and paying for them from an offshore account.
In HMRC v Jonathan Hitchins & Ors [2024] UKUT 00114, the Upper Tribunal (UT) found that the First Tier Tribunal (FTT) was entitled to direct HMRC to issue closure notices. HMRC’s enquiries amounted to a ‘fishing expedition’.
HMRC have updated their list of free and paid-for recognised payroll software used to report PAYE online. HMRC emphasise that they do not recommend one product or service over another and they are not responsible for any problems you have with the software you’ve bought.
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This time we have a new Visitor Levy, leading tech-savvy CTAs have their say about AI and tax, cautionary tales on three Capital Gains Tax (CGT) reliefs and, are London cabbies right: is Whitehall turning a blind eye to money laundering in the capital?
