Following representations from the CIOT and ATT, HMRC have amended their guidance with regards to the new online trust registration service requirements in respect of beneficiaries.
SME Tax News
HMRC have published the results of recently conducted research into Entrepreneurs relief (ER) to see whether it acts as a motivating factor in individuals’ business, investment, retirement, and tax planning decisions.
In Aozora GMAC Investment Limited v HMRC [2017] EWHC 2881 (Admin) the High Court considered whether the taxpayer had a legitimate expectation that it could rely on HMRC’s published guidance.
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The latest Finance Bill was published today, following the budget.
In Robert Wright v HMRC [2017] TC06211 Mr Wright was found to have made a disposal when he was granted a lease in a leasehold property he already owned; creating a new lease resulted in a part disposal of the original lease.
In HMRC v Tottenham Hotspur Limited [2017] UKUT 0453 (TCC), the Upper Tribunal (UT) considered whether termination payments to two football players (Peter Crouch and Wilson Palacios on their transfer to Stoke) should be subject to tax and NIC as earnings “from an employment” rather than under the special rules.
The Government asked the Low Pay Commission to make recommendations for the National Minimum Wage rates such that they are set as high as possible without causing unemployment effects.
Following the Autumn Budget 2017, HMRC have published ‘Taxing gains made by non-residents on UK immovable property - consultation’. This follows the chancellor's announcement that non-resident capital gains tax will be extended to include all UK property.