Tax professionals’ views of the industry’s hottest topics
Liability of income from assets owned jointly by spouses or civil partners
Is there a relatively easy way to include hassle-free claims for protective clothing?
Inheritance of a Manx company
HMRC have backtracked on their ambition to temporarily withhold details of PAYE code changes from workers.
D Patel (TC4225)
Is interest still eligible for tax relief after the asset has been scrapped?
HMRC have taken the latest step in their review of the use of overarching contracts (OACs) in the temporary labour market to take advantage of rules for travel expenses.
Revenue officials believe the use of OACs by some employment businesses and umbrella companies allows temporary workers to benefit from tax and National Insurance relief on home-to-work travel expenses
HS Patel (TC4189)
I Branagan (TC4188)
Abbey Forwarding Ltd (in liquidation) (TC4190)
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.