What liabilities arise and what values should be allocated on an asset transfer?
Latest revisions of the NI regime for employees and employers
Should a VAT-registered farmer charge VAT on unrelated consultancy work?
Issue 48 of Agent Update, HMRC’s bi-monthly news roundup for tax advisers, is now available.
Items include confirmation that the Revenue has updated 15 out of its 20 toolkits, with the remaining five to be revamped over the next few months. The toolkits cover the 400 most common errors that HMRC see in returns filed by tax advisers.
M Holmes & T Holmes (TC4467)
Peninsular & Oriental Steam Navigation Company v CRC, Upper Tribunal
Dividend waivers in a holding company and subsidiary and tax liabilities
New entrepreneurs’ relief rules and associated disposals
Issue 54 of HMRC’s Employer Bulletin is summarised below.
The Revenue’s understanding used to be that employers could not provide parts 1A, 2 and 3 of form P45 to a departing employee electronically.
The department has now received legal advice confirming that the relevant PAYE regulation governs the electronic transmission of information to and from HMRC, not between the employer and employee.
M Joyce (TC4453)
Barking Brickwork Contractors Ltd (TC4454)
AG Flutter (TC4443)