HMRC have announced that from 1 November 2017 they will no longer be accepting forms CT600 where the attached accounts or tax computations are not in iXBRL format.
SME Tax News
In Big Bad Wolff Limited v HMRC [2017] TC06143, the First Tier Tribunal (FTT) considered the interaction of IR35 and the special rules for actors prior to 6 April 2014.
In Patsy-Anne Saunders v HMRC [2017] TC6173: an appeal against penalties for late filing of a Non-Resident's CGT return upheld on the basis that ignorance of this piece of tax law is a reasonable excuse.
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The top story this week has to be that the Supreme Court has saved the taxpayer £17billion. The other exciting thing is that we have a Directors' Tax Update special for you.
Government statistics have revealed the number of companies and amount of funding raised under EIS, SEIS and through Social Investment Tax Relief.
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We are rather top heavy on cases this time, however they are all freeview, so read on. One that really caught my eye is Power Adhesives. The High Court applied 'the Hastings Bass principle' (that allows the correction of a fiduciary's mistake) to a company's board's decision to allow a director's loan to be converted into shares.
HMRC have published their Employer Bulletin for October 2017. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Alan Twaite v HMRC TC06033, the First Tier Tribunal (FTT) considered whether reliance on an adviser was a reasonable excuse for late notification of enhanced protection for a pension scheme.