Business

HMRC have published further guidance on eligibility for the employment allowance.

It includes clarification of “functions either wholly or mainly of a public nature”. Where more than 50% of the work of a business falls into the category, the allowance cannot be claimed. For example, a doctor’s surgery for NHS patients comprising 90% of a GP’s work.

Other areas include:

The majority shareholder of a trading company sold his shares for cash, shares and qualifying corporate bonds in a new holding company

A limited liability partnership (LLP) consists of the taxpayer and a limited company. The company has taken the largest profit share but this is undrawn, while the taxpayer has an overdrawn account

The first complete tax year under real-time information (RTI) for the majority of employers worked well, with only one major problem, according to the taxman.

HMRC have been conducting weekly end-of-year teleconferences with employer representatives since 31 March, at the request of Payroll Alliance, the LexisNexis service.

The department says information for 2014/2014 flowed through to its systems as expected, with the only significant obstacle being the Government Gateway server crash on 11 April.

Rogate Services Ltd (TC3449)

N White (TC3354)

J R Swanston (TC3350)

Changes to the annual investment allowance made in this year’s Finance Bill

The Court of Justice of the European Union (CJEU) has dismissed the UK’s challenge of plans by Brussels for a financial transaction tax (FTT).

The country asked the court to annul a council decision that authorised 11 EU member states to use the enhanced cooperation procedure to set up the tax – which the UK believed would impose costs on non-participating member states.

A new company has constructed and installed a wind turbine for a considerable sum on land that is rented from a farmer for a share of profits

Does the employment allowance pass the vital simplicity test?