Changes to simplify the dividend tax process for HMRC could cost small businesses in the long run

Steve Collings HMRC Leave a Comment

Small business owners making the most of the tax-free dividend allowance in the UK have already seen an impact on their savings and the cash available to them, due to a significant reduction that saw the allowance shift from £5,000 to £2,000 in April 2018. And now, family owned companies, small business owners and individuals could be faced with a …

HMRC Enquiries: meeting up?

Mark McLaughlin HMRC Leave a Comment

A tax return enquiry by HMRC is a possibility for virtually any person who files a return. A common feature of tax return enquiries (especially for business owners) is that HMRC often request a meeting with the taxpayer, particularly at an early point in the enquiry. The prospect of a meeting with HMRC is generally not relished by taxpayers (or …

VAT news and cases roundup: June 2018

Andrew Needham VAT and Customs Duties Leave a Comment

Loan administration services fell within the definition of debt collection services Target Group Limited v Commissioners for Revenue and Customs [2018] UKFTT 226 (TC) was an appeal against a decision by HMRC that loan administration services supplied by the appellant to a UK bank, Shawbrook Bank Limited, were standard-rated supplies for VAT purposes, rather than exempt ones as claimed by the …

Status quo?

Kate Upcraft General Taxation Leave a Comment

Kate, Upcraft, one of the contributors to our Payroll Management Manual takes a look at the recent rash of employment status cases and what the future might hold From the perspective of court rulings, it does seem as if the issue of employment status is on a repeating loop at the moment. But the subject of employment status is anything …

One Month in a Minute: June 2018

Lee Sharpe General Taxation Leave a Comment

Draft legislation for Finance (No 3) Bill The government announced on 11 June that it will publish draft clauses for Finance (No 3) Bill on 6 July 2018, along with accompanying explanatory notes, tax information and impact notes, responses to consultations and other supporting documents. All publications will be available on the gov.uk website. Making Tax Digital: even represented businesses will need …