SME Tax News

Happy New Tax Year!

The start of the new tax year often provides the impetus for new business start-ups. This year, it may be more a case of re-starting if you have been forced into COVID-19-induced hibernation. If you are re-starting or just planning, the government has just published details of its new range of restart grants and recovery loan funding.

The government intends to have large businesses notify HMRC when uncertain tax treatments have been adopted within a tax return. The consultation is now closed and a summary of the responses has been published.

US President Joe Biden's new tax administration has shown its hand on the future of the taxation of multinational companies: a minimum international corporate tax rate in exchange for a national sales tax.

In HMRC v Comtek Network Systems (UK) Ltd [2021] UT 008, the Upper Tribunal (UT) allowed HMRC’s appeal against the First Tier Tribunal (FTT) decision allowing an appeal against Follower Notice (FN) penalties.

In Build-A-Bear Workshop UK Holdings Limited v HMRC [2021] UKUT 0067, the Upper Tribunal (UT) heard both the appeal and cross-appeal, finding that the First Tier Tribunal (FTT) erred in law when applying Customs Duty classification rules.

Hello 

The Easter weekend is typically the time when a lot of properties are newly listed on the market. To this end we have been updating our Stamp Duty Land Tax (SDLT) guides for potential buyers as we try to answer your latest, most frequently asked questions (FAQs).

 

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