Advisers may need to drop clients in the aftermath of the Mehjoo case
Aeroassistance Logistics Ltd (TC2628)
A company has issued shares to external investors under the enterprise investment scheme (EIS), but loans from directors have been repaid
A husband and wife are the directors of a limited company that has been set up to trade as a Lloyd’s underwriter. The husband has borrowed money to lend to the company as collateral, but this has been invested in National Savings in his wife’s name. What effect will this have on a claim for relief for loan interest paid?
The cash basis may not be as simple as its name suggests
HMRC’s approach to goodwill and trade-related properties is a misinterpretation of regulations
Employers using products from one particular software provider have received penalty warning notices from HMRC because they sent their end-of-year information on the wrong type of submission.
The problem affects businesses that:
Hott Joint Carvery (TC2644)
Accelerate deductions by claiming first-year allowances for technology that saves water or energy
Charles Atkinson (TC2606)
Taxpayers making their first return and payment under the new machine games duty are finding it difficult to understand, according to HMRC.
The taxman has also encountered system issues that have confused some taxpayers and made it harder for them to comply.
As a result, the Revenue has decided not to apply penalties for the late submission of first returns. The concession will not apply to any other area.
The department states that taxpayers should ignore the fine if it shows up on their accounts; sanctions for late filing of first returns will be cancelled.
HMRC wish to have a subcontractor’s accounts adjusted so that the income and expenditure exactly matches the construction industry scheme returns