Another umbrella company’s pay model has not survived the hard scrutiny of the tax tribunal. A lack of evidence of sufficient 'mutuality of obligation' during downtimes meant no overarching contract of employment and therefore all worker travel costs were ordinary commuting.
The Court of Appeal ended a couple's attempt to claim stamp duty land tax under a deceptively simple sub-sale relief scheme. The scheme just did not work. A company incorporated to purchase a property and then transfer it to its individual owners by way of a capital reduction did not avoid any tax as the subscription price of their shares formed consideration for the property.
HMRC have issued their Agent Update for February 2024. We have summarised the key content for you with links to our detailed guidance on the topics covered.
HMRC have launched a new call for evidence ‘The Tax Administration Framework Review: enquiry and assessment powers, penalties, safeguards’. This explores wide-ranging possibilities for reform, with an emphasis on simplification and modernisation.
HMRC has published a response to its consultation ‘Simplifying and modernising HMRC's Income Tax services through the tax administration framework’. Several improvements and legislative changes are planned to promote a 'digital by default' approach and improve systems around tax codes.
HMRC have published new advisory fuel rates for company car drivers which apply from 1 March 2024.
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They say that a week is a long time in politics; the same is sometimes true in tax! HMRC’s plan to change the classification of double cab pick-ups for employment benefit and Capital Allowance purposes back-fired over the weekend, due to pressure from industry lobby groups. This led to a reversal in policy (a U-turn!). The result is that double cab pick-ups remain vans and are not cars.
Annual Investment Allowance (AIA) claims within groups and between companies under common control can be complicated. HMRC are writing to corporate groups and related companies that may have exceeded the AIA limit.
Companies House has given notices of a rise in its fees and the costs of Registration of an Overseas Entity have increased by 134%. Who realised that there is a cost to remove an Entity from the ROE?
In 2015, a senior Deutsche Bank employee sacked in the fallout of the 2012 Libor rigging scandal, received £6m in compensation for unfair dismissal. The Upper Tribunal (UT) confirmed that the amount was taxable under PAYE and rejected the taxpayer's claim that the payment was received as a result of discrimination and was outside employment income.