Missed our SME Tax Updates in January? Here is a summary of the month.
SME Tax News
Hello,
Now that the 2024-25 Self Assessment deadline has passed, many advisers are starting to look ahead to the next few months when several significant changes in the world of tax will be introduced, not least Making Tax Digital for Income Tax, about which HMRC are currently contacting some affected taxpayers.
With the introduction of Making Tax Digital (MTD) for Income Tax (IT) around two months away, HMRC are now writing to more taxpayers who will be mandated into the regime from 6 April 2026.
HMRC have released Employment-Related Securities (ERS) Bulletin 63, which contains important information on changes to the net settlement reporting requirements for Employment-Related Securities (ERS).
In BTR Core Fund JPUT v HMRC [2026] UKUT 00027, the Upper Tribunal (UT) found that a Stamp Duty Land Tax (SDLT) Overpayment Relief claim was valid. The SDLT overpayment was not by reason of a mistake in a claim or election, but by reason of the wrong choice of SDLT rate.
In Victor Michael v HMRC [2026] TC09751, the First Tier Tribunal (FTT) found that a nurse was not entitled to a deduction for travel expenses. While his attendance at Southport Hospital was for less than 24 months, it was his permanent workplace, and as such, his travel was ordinary commuting.
Hello,
It will come as no surprise that the 2024-25 Self Assessment deadline is now just around the corner. What may be a little more of a shock is that HMRC’s telephone helplines were going to be closed on 31 January, albeit with ‘enhanced’ webchat support available.
HMRC have advised that from April 2026, they will remove employment expenses and higher rate Gift Aid relief from PAYE tax codes where they believe a taxpayer's circumstances have changed.
In Gary Elden v HMRC [2026] TC09742, the First Tier Tribunal (FTT) found that significant procedural failings, exacerbated by the unverified use of Artificial Intelligence (AI) by Mr Elden's accountants, posed serious risks to the fairness of proceedings. Nevertheless, it refused HMRC's strike-out application.
Following HMRC's recent announcement that their telephone helplines would be closed on Self Assessment deadline day, 31 January 2026, with only enhanced webchat support available, they have since announced a U-turn and telephone support will be provided for a limited period.
