In Richard Steven Ward v HMRC [2017] TC05919 HMRC incorrectly disallowed a negligible value claim: it was sent by email and poorly worded.
SME Tax News
In Ball UK Holdings Limited v HMRC [2018] TC05920 the First Tier Tax Tribunal (FTT) considered whether changes in a group's functional currency met compliance with UK GAAP and corporation tax.
The Supreme Court has issued its judgement in RFC 2012 Plc (in liquidation) (formerly The Rangers Football Club Plc) v Advocate General for Scotland [2017] UKSC 45 and has agreed with HMRC that loans made to employees under the club's EBT loan scheme were in fact remuneration and so subject to tax and NIC.
The Pensions Regulator have published a case relating to Johnsons Shoe Company and a £40,000 fine for failing to comply with their auto-enrolment duties.
Inheritance Tax has been called an ‘optional tax’ by some, though latest figures revealed that £5.1bn of IHT was collected in the year ended 31 May 2017.
Hello
There is a lot of interesting news this week, but no news of Making Tax Digital (for business). We do know that we will have a Summer Finance Bill and a new NICs bill.
HMRC have issued their Agent Update for June / July 2017. We have summarised the key content for you with links to our detailed guidance on the topics covered.