Concerns were raised in February that a change in HMRC’s guidance appeared to suggest that HMRC had quietly changed its practice regarding the deductibility of business expenses incurred by partners, as distinct from the partnership itself. HMRC has since helpfully clarified its position to a volunteer on the CIOT’s OMB technical sub-committee and we are pleased to be able to share this information with members.
We understand that there was a delay in pre-populating Class 2 NICs in 2018/19 Self-Assessment returns, and that returns filed on or before 8 April 2019 may not show Class 2 NICs within the return.
HMRC has provided us with an article which is to be published in the April 2019 Employer Bulletin on 10 April 2019, which members carrying out payroll and PAYE reporting may like to read.
Notes have been prepared by committee members of STEP, ICAEW, the CIOT and the Law Society to highlight practical issues and uncertainties raised by Finance Act 2018 Schedule 10 (Settlements: Anti –avoidance etc.)
