Losses
The second Finance Bill for 2017 is due to be published tomorrow: 8 September. We expect it to contain provisions to radically change the way corporation tax losses can be relieved when they are carried forward.
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September News
Welcome to our monthly news page. We hope you enjoy reading this newsletter and find it useful.
September Tax News
Welcome to our monthly news update. We hope you enjoy reading this newsletter and find it useful.
What HMRC Won’t Provide
Employment details
In our newsletter on 20 April 2017 we advised that from May 2017 HMRC would no longer provide details of taxpayers’ pay and tax deducted to tax agents, when requested by phone. The information would be sent by post to the taxpayer concerned.
PAYE Late Filing Penalties
We summarised the position for late filing PAYE penalties in our newsletter on 20 April 2017. This information related to the 2016/17 tax year, but we now have a further statement from HMRC regarding how they will assess PAYE penalties for 2017/18.
R&D Claims and Disclosure
The enhanced tax relief for expenditure on research and development (R&D) projects is very attractive for small companies. Unfortunately, the rules are not that simple and HMRC keeps changing its guidance, which is contained in the Corporate Intangibles Research and Development manual (CIRD) and a simpler version on gov.uk.