Business

New opportunities to form and extend VAT groups

Are HMRC seeking to influence the structure of business deals?

HMRC have published guidance to explain the changes to enterprise investment scheme (EIS) procedures announced in the Budget.

The new measures affect the processing of advance assurance requests and forms EIS1 compliance statements in respect of investments made on or after 6 April 2015. The Revenue will no longer process such requests in respect of companies that:

The Bunker Secure Hosting Ltd (TC4349)

CRC v Hamilton & Kinneil (Archerfield) Ltd & others, Upper Tribunal

The tax treatment of debits and credits for uncompleted car sales and purchases

Shareholdings in joint ventures and their new entrepreneurs’ relief rules

HMRC have published Employer Bulletin 53. Extracts follow.

Reminders for the new tax year

The van benefit charge exemption for zero-emission vans is being phased out between April 2015 and April 2020. From 6 April 2015 a special low rate of 20% of van benefit charge will apply for zero-emission vans. This will increase each year until 6 April 2020 when it becomes the same as the full van benefit charge.

Inside Track Productions LLP & others v CRC, Upper Tribunal (Tax and Chancery Chamber)

J Dyson (TC4336)

Can a director withdraw company funds and invest them as its agent?

Unqualified spouse as director of a professional company