HMRC have issued draft legislation for consultation on the latest round of extra-statutory concessions to be enshrined in law. This covers concessions on directors fees, Professional remuneration, Financial loss allowance and Payments from medical committees to members.
SME Tax News
Draft legislation has been published which will give up to £25 per month to regular savers with a Help-to-save account.
HMRC have published a consultation ‘Large Business compliance – enhancing our risk assessment approach’.
Following complaint from HMRC, the Advertising Standards Authority (ASA) have ruled that the way in which a tax avoidance scheme was marketed was misleading and have ordered the advert be changed.
HMRC have released a policy paper and draft legislation clarifying the tax treatment of partnerships in particular situations, such as where bare trustees, or other partnerships are partners.
HMRC has engaged Microsoft's Corporate Vice President Jacky Wright to act as its new Chief Digital and Information officer as part of its Making Tax Digital transformation.
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This week we saw the publication of VAT guidance for Making Tax Digital (MTD) together with, not only secondary but also tertiary legislation, for Making Tax Digital for business.
A new HM Treasury consultation and review ‘Financing Growth in Innovative Firms’ considers the demand for ‘patient capital’ and options for a domestic replacement to the European Investment Fund (EIF), if following Brexit, that fund is no longer an active investor in UK business.