In this week's tax update:
- TAX3 releases draft report on tax avoidance and evasion
- 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
- 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
- Faith in humanity
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.
This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.