Capital allowances: personal security
HMRC’s latest Agent Update highlights a key change to penalties for late filing of self assessment tax returns.
A tax relief for disincorporation of small businesses and a system of flat rate expenses allowances for the smallest businesses are among options for reform being suggested by the Office of Tax Simplification.
HMRC have released their twentieth and final ‘toolkit’, dealing with business profits. The toolkits are designed to help tax agents and their clients reduce errors in completion of tax returns.
HMRC are seeking views on how to ensure that genuine losses incurred in business or employment are relieved against income or gains while deterring taxpayers from entering into tax avoidance arrangements intended to exploit the reliefs.
HMRC have invited comments by 31 August 2011 on:
Chris Bates and Judy Harrison provide your detailed review of the Supreme Court decision. Plus further insight from Giles Goodfellow QC, Rupert Shiers, Bill Dodwell and Jason Collins