HMRC has published ‘Non-resident companies chargeable to Income Tax and non-resident CGT: summary of responses’. This explores whether non-resident companies with UK sourced property income or gains should pay corporation tax. It concludes that these companies should move into corporation tax.
SME Tax News
In Whittaker v Concept Fiduciaries Ltd, Guernsey Judgment 15/2017, Guernsey’s Royal Court considered the UK rules on rectification of advisers' errors in setting up a trust.
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This week's highlights: the employment status of Ryanair pilots has once more hit the news and HMRC have opened a self-reporting hotline for businesses who are facilitating criminal tax evasion. The two are not linked.
Pilots working for Ryanair have been under tax enquiries from both the UK and German tax authorities.
As part of HMRC’s approach to dealing with the new offence of Criminal Facilitation of Tax Evasion, it has given details of how an organisation can self-report any such offence discovered.
The Office of Tax Simplification (OTS) has issued a ‘future work programme’ identifying areas that it will address in the short term, the next 12 months and in the medium term.
In Rachel McGreevy v HMRC [2017] TC06109 penalties for a late non-resident capital gains tax return were cancelled; no disposal was proved in the relevant tax year, the taxpayer had a reasonable excuse or special circumstances.
In M Watts v Revenue Scotland [2017] FTSTC 1 the Scottish tax tribunal upheld penalties of £890 for a late LBTT return despite no tax being due; ignorance of the law was no excuse for the self-represented tax payer.