HMRC employee expenses consultation
Due to the general election being called early, HMRC has extended the deadline for responses to its consultation on the taxation of employee expenses. The deadline is now 10 July this year.
Due to the general election being called early, HMRC has extended the deadline for responses to its consultation on the taxation of employee expenses. The deadline is now 10 July this year.
The parliamentary briefing paper “Tax Avoidance: recent developments” provides an introduction to the issue of tax avoidance, the development of legislation to combat avoidance and more recent developments, including an overview of the provisions removed from the Finance Act 2017 before enactment due to the calling of the general election.
One good thing that has come out of the snap election announcement is the dropping of proposals to increase probate fees.
HMRC’s ‘Making Tax Digital’ plans, which include the start of quarterly reporting and the production of subsequent year end reconciliation tax report, come into effect at different points based on a company’s or partnership’s size and turnover.
The National Audit Office (NAO) has given a scathing response to HMRC’s efforts to tackle the issue of tax lost to online VAT fraud and error, which could be up to £1.5bn annually.
HMRC has recently updated its corporation tax guidance on end of company life in relation to the requirement to file a tax return at the point of closure.
HMRC have recently updated their guidance on compliance checks for unannounced inspection visits.
As part of the 2016 Autumn Statement HMRC proposed major changes to the VAT Flat Rate Scheme, these came into effect on 1 April 2017 and are likely to hit limited cost traders.
The Bedrock office will be closed from 5.15pm Thursday 13 April reopening the following week at 9am on Tuesday 18 April. We hope you have a good break over Easter but do remember it is possible to eat too much chocolate!
HMRC has published guidance on the new rules which came into force this month relating to claims for an additional inheritance tax (IHT) threshold when the family home is left to direct descendants.