The government issued a call for evidence on possible integration of the operation of the income tax and NIC systems, with a view to building ‘a strong evidence base on the burdens to employers of having to operate two different systems’.
Robert King examines the tax traps SMEs fall into and how to avoid them
HMRC have released their twentieth and final ‘toolkit’, dealing with business profits. The toolkits are designed to help tax agents and their clients reduce errors in completion of tax returns.
HMRC are seeking views on how to ensure that genuine losses incurred in business or employment are relieved against income or gains while deterring taxpayers from entering into tax avoidance arrangements intended to exploit the reliefs.
More than 46,000 phishing emails have been reported by customers since the first tax credits renewals forms were sent out to claimants in April, HMRC said.
Tax professionals have welcomed two government consultations on reforms designed to support innovation and productivity in the UK.
HMRC have published draft, updated guidance, together with minutes of the 4 April meeting of the Research & Development Consultative Committee.