HMRC have launched a consultation: 'Reforms to the taxation of non-domiciles: further consultation'. This provides updates on the changes to the non-dom regime which were originally announced last year together with some draft legislation.
SME Tax News
In Rupert Grint V HMRC [2016] TC05286 the Harry Potter star fell foul of the rules for change of accounting date for tax.
HMRC have issued a consultation 'Company car tax for low emission cars' in order to seek views on the design of new ultra-low emission vehicle (ULEVs) bands for company car tax.
HMRC have published their Employer Bulletin for August 2016. We summarise the key content for you, with links to our detailed guidance on the topics covered.
HMRC have launched a consultation 'Strengthening Tax Avoidance Sanctions and Deterrents: A discussion document.' This proposes new penalties for ‘enablers’ of failed tax avoidance arrangements together with a change in the way penalties are applied to users.
HMRC have launched a technical consultation: ‘Gift Aid and Intermediaries’ which proposes how the extended involvement of intermediaries should be regulated.
In Cyclops Electronics Limited and Graceland Fixing Limited V HMRC [2016] TC05234 tax planning involving an award of loan notes to directors as bonuses failed. The loan instruments were held not to be forfeitable restricted securities and were taxable as if they were cash bonuses.
- HMRC late payment interest rate dropped
- Making Tax Digital: Transforming the system through the better use of information
- Making Tax Digital: Voluntary pay as you go
- Making Tax Digital: The Roadmap
- Consultation response: Gift Aid Small Donations Scheme
- Consultation: tax & NICs on termination payments