Bear in mind...
The inconsistencies of HMRC’s unified system of fines
M Hunt (TC4183)
Abbey Forwarding Ltd (in liquidation) (TC4190)
The Corporation Tax (Northern Ireland) Bill provides for the devolution of tax powers to the Assembly and should allow Ulster to set its own rate of corporation tax from April 2017. Non-trading profits such as income from property are excluded, and power over the corporation tax base will remain with the UK parliament. The Wales Bill has received royal assent. It devolves a range of tax-raising powers to Wales.
HMRC have extended the registration deadline of their contractor loan settlement opportunity.
Taxpayers now have until 30 June to notify the department that they wish to take part in the tax disclosure facility that was originally scheduled to close on 9 January.
A contractor loan scheme settlement is an arrangement in which a non-UK employer pays a worker untaxed income or a loan, instead of all or part of a salary. Individuals who take part in such a scheme may still have to pay income tax.
Employers are set to receive the first quarterly notices under real-time information’s late-filing penalties regime, which began in October for businesses with 50 or more members of staff.
Firms that have incurred fines can expect the HMRC messages from the beginning of February, according to the department. Advisers will not be sent a copy, but each notice will instruct employers with agents to pass on the correspondence immediately.
ELJ McMorris (TC4204)
E Hope v Ireland and others, Chancery Division
Tasks to kick off the new year
How to help clients who struggle to settle their self assessment bills
Key dates for your 2015 calendar