Weekly Tax Update 8 January 2019

The latest tax update and VAT round up for the week.

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Geoff Everett, Andrew Wilkes
Published: 08 Jan 2019 Updated: 26 May 2022

In this weeks update:

General

  • Knighthood for Jon Thompson in New Year’s Honours List
  • Jersey and Isle of Man tax agreements come into force
  • HMRC’s Agent Update 70

Private client

  • Government makes significant amendment to new Entrepreneurs’ Relief rules
  • HMRC guidance on tax on cryptoassets
  • Post-cessation trade relief denied on funds held in ‘trust’
  • NRCGT tax return late filing penalties
  • Payments were not under a guarantee and not relievable for CGT purposes
  • Revised HMRC position on self-assessment for directors

Trusts, estates and IHT

  • Trust Registration Service
  • House of Lords vote on probate fees

PAYE and employment

  • Deliveroo drivers found to be self-employed contractors, not workers
  • Government confirms intention to align employment status rules
  • Tax effect of judges’ pension scheme found to be discriminatory
  • Accelerated Payment Notices allowed after a promise to postpone payment

Business tax

  • EC orders Gibraltar to recover €100m in illegal state aid
  • EU Anti-Tax Avoidance Directive rules come into effect

VAT

  • VAT treatment of management services for Special Investment Funds
  • Making Tax Digital – Update for agents

Tax publications and webinars

  • Webinars

And finally

  • Cooking your own goose

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.

Disclaimer

This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.