The Office of Tax Simplification (OTS) have published “Tecnhology Review: a vision for tax simplicity”, to consider how to use technology to achieve a simpler and better “user experience” without taking away taxpayer understanding and responsibility for their tax affairs.
SME Tax News
HMRC have announced the opening of a new Profit Diversion Compliance facility to allow large international groups using arrangements targeted by Diverted Profits Tax (DPT) to bring their UK tax affairs up to date.
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This time: new facts and figures on the loan charge. Fluctuating income is no excuse for being late in paying your Self Assessment bill and check out our new TAAR tool.
In UBI Ltd v HMRC [2018] TC06771, the FTT agreed that a company with a poor compliance record was reasonably required to provide HMRC with security for PAYE liabilities. It failed to keep to a time to pay agreement.
HMRC have released more facts and figures about those taxpayers who will be affected by the Disguised Remuneration loan charge, including a pictorial factsheet which makes interesting reading.
The Department for Business, Energy and Industrial Strategy (BEIS) has launched a National Minimum Wage: consultation on salaried workers and salary sacrifice schemes.
In Munro Sawmills Limited v HMRC [2018] TC 6645, the tribunal held that a company had reasonable excuse in its belief that it had filed its P11D(b) return on time.
In Ernold Ltd v Revenue Scotland [2018] FTSTC insufficiency of funds was held not be a reasonable excuse for a failure to file a Scottish land and buildings transaction tax return.
- Distributions on winding up: have your checked the TAAR?
- Online marketplace liability notices raise over £200m
- Nichola's SME tax W-update 11 January 2019
- Barrister should have taken reasonable steps to save for tax bill
- 20% penalty for failure to report capital gain
- The loan charge: settlement with HMRC is still an option