HMRC has issued new guidance 'Help to comply with the reformed Off-Payroll Working rules (IR35) and avoid common mistakes'. The title of the guidance may be confusing for some.
SME Tax News
In HMRC v E.ON UK Plc [2023] EWCA Civ 1383, the Court of Appeal (CoA) found that a payment made to an employee as part of a package of changes, which included adverse changes to pension rights, was earnings from employment. It was subject to Income Tax and National Insurance.
HMRC have published responses to their earlier consultation ‘Construction Industry Scheme reform’. The consultation focused on three areas within the Construction Industry Scheme (CIS): compliance, administrative easements and simplification. As a result of the consultation, several changes have been announced.
Missed our SME Tax Web-updates in November? Here is a summary of the month.
In Acorn Venture Ltd v HMRC [2023] TC09006, the First Tier Tribunal (FTT) found that basic camping pods provided to school children for residential adventure holidays qualified for plant and machinery capital allowances. Pods with greater facilities, for teachers, did not qualify for Capital Allowances.
Hello,
This week we have more details from last week's Autumn Statement and we note that the latest Finance Bill has now been published covering the proposed changes. As this bill is well over three hundred pages long it might take us a minute to go through it all!
As part of the Autumn Statement, the Chancellor announced more generous reliefs for Audio-Visual expenditure and published a Call for Evidence to consult on the policy design.
HMRC have published the outcome of their review into how Making Tax Digital (MTD) for Income Tax will address the needs of small businesses. This has resulted in some proposed changes to how it will be introduced in 2026.
As announced as part of the Autumn Statement, the government has published a technical consultation on changes to the capital allowances system, with the aim of simplifying the tax system.
HMRC have published responses to the consultation ‘Expanding the cash basis’ which asked for taxpayer views on various options to extend and simplify the Self-employed Cash Basis, a simplified way of calculating taxable profits for Income Tax purposes.