Technical News

 


HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

LATEST – HMRC have announced that this issue has now been fixed.  An update was posted on the Agent Forum on 28 January, which says the following:

“HMRC can confirm that a fix was implemented at the end of last week. The same info previously supplied regarding correction of accounts still applies. The accounts of anyone affected should be corrected and an amended SA302 issued, and for anyone filing after its implementation the issue should not arise. In the meantime, if an agent contacts the Agent Dedicated Line (ADL), HMRC will correct their account for them”. 

HMRC has provided us with the attached update in relation to its digital services.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

There has been a recent development regarding the trust protection rules and offshore income gains, which may be relevant for 2017/18 tax returns. 

HMRC has recently announced that the pilot for Making Tax Digital for VAT has now been opened to VAT Groups.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

HMRC have asked us to draw attention to their following notice about forthcoming Talking Points meetings.

On Budget Day, the Chancellor announced that two additional conditions would be introduced to the definition of “personal company” for the purposes of Entrepreneurs’ Relief (ER). The tests take effect from 29 October 2018, and are intended to ensure that an individual benefiting from ER on a sale of shares has a material stake in the company. The two new tests are included within paragraph 2, Schedule 15 of Finance (No. 3) Bill. They require the individual to have a 5% interest in both the distributable profits and net assets of the company through the one year (increasing to two year) period prior to disposal.