Had accounts been prepared in accordance with GAAP?
Agent or principal?
In his inaugural Mansion House speech on Tuesday, Philip Hammond pledged that: ‘The government will remain committed to keeping taxes as low as possible.’
HMRC has updated its non-statutory clearance service guidance, which now specifies that HMRC won’t give clearances in respect of the settlements legislation in ITTOIA 2005 Pt 5, or the tax consequences of executing non-charitable trust deeds or settlements.
The Welsh Government has published its tax policy framework, setting out a broad set of principles through which to develop its policies. From April 2018, stamp duty land tax and landfill tax will be devolved to Wales as land transaction tax and landfill disposals tax respectively.
The Association of Taxation Technicians has responded to HMRC’s consultation on the ‘making tax digital’ penalty regime, which closed on 11 June, calling for a ‘soft landing’ approach. The ATT would like to see HMRC:
HMRC has updated its guidance for taxpayers wishing to use the new worldwide disclosure facility for UK tax liabilities relating to offshore matters.
HMRC has published the following:
Is contract bridge a sport?
Valuing shares for gift relief