Hello,
This week we examine the newly published 2024-25 tax return, provide an important reminder for some Furnished Holiday Let owners and report HMRC's security concerns surrounding Self Assessment repayments.
Now that 5 April is behind us, we have published our guide to the 2024-25 Self Assessment tax return. This includes our top tips on completing returns and an overview of HMRC's modifications to the format of the tax return forms.
One notable change for 2024-25, announced at the 2023 Spring Budget, is the need to separately identify cryptoasset transactions on the Capital Gains pages. Do remember that we have a useful ‘Tax Return questionnaire’ to assist in gathering Self Assessment information from clients.
HMRC have published their latest Trusts and Estates Newsletter for April 2025. We have compiled an enhanced version detailing what’s new for trusts and estates in 2025-26, including the latest case law.
In other news, HMRC have stopped issuing Self Assessment repayments over the telephone and webchat due to security concerns. We don't know when HMRC will begin accepting new repayment claims via those routes.
Our case summaries this week include the latest success in a string of wins for HMRC on IR35 and a decision of the First Tier Tribunal in the context of Welsh Land Transaction Tax.
More news and updates below.
The Ross Martin Tax Team
Your Virtual Tax Partner®: online PRACTICAL support for accountants, tax advisers BY accountants and tax advisers.
Quick News
FHLs and Form 17 reminder
Following the abolition of the Furnished Holiday Letting (FHL) regime from 6 April 2025, action may be needed by some joint FHL owners, where they are married or in a civil partnership, to ensure that they continue to be taxed on the correct share of profits going forward.
Security concerns halt HMRC phone repayments for SA
HMRC have stopped issuing Self Assessment repayments over the telephone, webchat and the Agent Dedicated Line (ADL). According to the Institute of Chartered Accountants in England and Wales (ICAEW), HMRC have quoted 'security concerns' for the suspension.
Online filing exclusions for 2024-25 tax returns
Some taxpayers will be unable to file their Self Assessment returns online for the year ended 5 April 2025, due to software specification issues from HMRC. Lists of filing exclusions for individuals, partnerships, trusts and estates have recently been published by HMRC.
Tax Cases
UT dismisses IR35 challenge
In George Mantides v HMRC [2025] UKUT00124, the Upper Tribunal (UT) found that a hospital locum who operated through a Personal Service Company was subject to the IR35 rules. The hypothetical contract was one of employment.
Coronavirus prevented LTT refund
In Jonathan Paul Padbury v The Welsh Revenue Authority [2025] TC09470, the First Tier Tribunal (FTT) found that a taxpayer was not entitled to a refund of the higher rate of Land Transaction Tax (LTT). The impact of Coronavirus, which had delayed the sale of the taxpayer's previous primary residence, could not be considered.
Editor's Choice
Self Assessment Return 2024/25: What's new?
NEW: 2025 Self Assessment toolkit: top tips for completing tax returns for the year ending 5 April 2025.
Tax Return questionnaire
What information is needed to complete a Self Assessment Tax Return? This questionnaire will help you gather the documents and information required.
Trusts & Estates: What’s New 2025/26
NEW: HMRC's latest Trusts and Estates newsletter contains some useful information. Here is our enhanced version for subscribers, including reminders of recent and upcoming changes.
Guides & Updates
Self-employed
Compare software for Making Tax Digital for Income Tax
UPDATE: What software is available for MTD for Income Tax? What's the most suitable software I can use? Which software does HMRC list as working for MTD for Income Tax? What to consider before choosing software?
Travel (self-employed)
What journeys qualify for tax relief? Where is the base of operations? What is business travel? Can a home be a workplace? What case law is there?
Making Tax Digital: 2025/26 Action plan
As we're now counting down to Making Tax Digital (MTD) for Income Tax, HMRC’s MTD Team held an event for tax agents at Canary Wharf this week. We look at the practical suggestions arising from that session.
Directors & Companies
Salary 2025/26 (interaction with NICs)
Is it still tax-efficient to pay a very low salary? Is it beneficial to pay a slightly higher salary to claim the Employment Allowance? What if the Employment Allowance is not available?
Tax-efficient extraction of profits: toolkit (2025/26)
This is a general guide and refresher which aims to help a company and its owner decide how company profits are to be extracted based on current tax, rates, reliefs and allowances.
Employers
Off-Payroll Working: PSCs & Private Sector Engagers
UPDATE: What is Off-Payroll Working? Who does it apply to? What are the rules?
Private Client & Estate Planning
Cryptoassets: How are Bitcoin, cryptocurrencies or cryptoassets taxed in the UK?
How do you tax Bitcoin? Are cryptocurrency or cryptoasset gains or profits, taxable? Can you obtain tax relief if you make losses on Bitcoin? Gains on transactions in cryptoassets are potentially taxable in the same way as other investments.
IHT: Main Residence Nil-Rate Band (RNRB)
What is the Main Residence Nil-Rate band? When was it introduced? How does it work? Who can claim it?
Devolved taxes
Welsh Land Transaction Tax (LTT)
What is Land Transaction Tax? How does it operate? What reliefs are available?
Scottish Income Tax: Am I a Scottish taxpayer?
Who does Scottish Income Tax apply to? Am I resident in Scotland? What constitutes a residence and the 'main' residence?
Penalties & Compliance
Notice to file a tax return: section 8(1) TMA 1970
A guide to explain the implications of a notice sent to an individual under s.8(1) TMA 1970 to file a tax return.
Appeals: Grounds for Appeal Toolkit
What grounds are there to appeal a tax penalty? How should you word a tax appeal? Can you appeal HMRC errors? What is a reasonable excuse?
VAT
Discounts, Reward Schemes & Vouchers: VAT
Loyalty and reward schemes and vouchers come in various shapes and sizes and the VAT implications may vary depending on the type of scheme offered. This guide reviews the treatment of some typical schemes and case law.
Tax Tools & Calculators
Tax tools & calculators
We have a suite of useful tax tools that help agents, business owners and sole traders calculate their taxes.
Calendar of tax deadlines and new tax measures
UPDATE: This is a freeview 'At a glance' rolling calendar of common recurring tax deadlines, new tax measures and other tax-significant events.
CPD
Recent webinars include:
- Practice Insight - April 2025 (free)
- Making Tax Digital for Income Tax - Roadmap to April 2026
- Monthly Tax Update - Spring Statement Special
- Practice Insight - March 2025 (free)
- Family Investment Companies - Succession Planning
Tax Queries?
UK Agent for registration of Overseas Entities
Do you require assistance in the registration and verification of an overseas entity that owns UK land or property?
Virtual Tax Partner© Support
Have a tax query? Need a second option? Open a ticket and ask a question. A team of tax experts with a wide range of expertise: covering direct and indirect tax, as well as accounting, R&D claims, reorganisations and much more.
Missed the Last Tax Update?
Ross Martin Tax: SME Tax News 3 April 2025
- Personal Tax Query Resolution Service for Agents goes live
- HMRC's late payment interest rate increases
- Anti-money laundering supervision report 2023-24
- Employment-Related Securities (ERS) What's new? March 2025
- Spotlight 68: Prepaid cards used for profit extraction
- UK-born Rabbi deemed UK domiciled
- Property being converted was residential for SDLT
- Compare software for Making Tax Digital for Income Tax UPDATE
- Property profits and losses: Toolkit 2025-26 NEW
- Land & Property: an Adviser's Tax Update 2025-26 NEW
- Non-Domicile: Rules from 6 April 2025 UPDATE
- Named tax avoidance schemes, promoters, enablers UPDATE ...More
Subscribe for news, guides, tools & CPDs
Subscribe now and unlock the site. Subscriptions begin at £53 (+ VAT) per month. All subscriptions are for a 12-month term.
What do you get?
- A comprehensive practical tax database of guides, checklists, briefings and practice notes, and access to all our time-saving calculators and tax tools.
- A library of on-demand verified CPD.
- 25% discount on Virtual Tax Partner services.
- Read everything in our comprehensive weekly SME tax news summary. We do the reading then summarise legislation, HMRC guidance, analyse official reports and cherry-pick the best of the press and the rest.
- Commission guides and checklists for your own practice.
