Weekly Tax Update 27 November 2018

In this week's tax update:

General

• TAX3 releases draft report on tax avoidance and evasion

Private client

• Insolvency of a personal company found to be a reasonable excuse for late payment
• Appeal against closure notice denied where no amendment is made
• Discovery assessment found to be stale and invalid

Trusts, estates and IHT

• OTS recommends simplification of the IHT tax procedures

PAYE and employment

• Lifetime Allowance protection not revocable because of mistaken contributions

VAT

• Lords Select Committee urges HMRC to delay Making Tax Digital for VAT until 2020
• Taxpayer had legitimate expectation to be taxed in accordance with guidance

Tax publications and webinars

• Webinars

And finally

• Faith in humanity

DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.