HMRC's challenge to a restaurant's claim for support payments under the Eat Out to Help Out Scheme (EOHOS) failed at the First Tier Tribunal (FTT). This is the first FTT case considering the EOHOS.
SME Tax News
An attempt to claim Entrepreneurs' Relief (ER) on liquidation distributions was denied by the First Tier Tribunal (FTT). It was found that the company in liquidation had never commenced trading. Simply attempting to enhance the value of land acquired before its disposal is not sufficient to amount to trade.
HMRC have published the quarterly statistics for Tax-free Childcare for the period ending 31 December 2023. There is reduced usage for the scheme but a greater overall spend.
Missed our SME Tax Web-updates in February? Here is a summary of the month.
Hello,
February has been an extremely busy month and this is reflected in the content of this week's Web-update. We are taking a look at HMRC's latest Agent Update and Employer Bulletin, having a speed-read-refresher on the key measures in the new Finance Act, there are a couple of new consultations from HMRC on administration and powers and, of course, we have reviewed some interesting cases, including two from the Upper Tribunal (UT).
Another umbrella company’s pay model has not survived the hard scrutiny of the tax tribunal. A lack of evidence of sufficient 'mutuality of obligation' during downtimes meant no overarching contract of employment and therefore all worker travel costs were ordinary commuting.
The Court of Appeal ended a couple's attempt to claim stamp duty land tax under a deceptively simple sub-sale relief scheme. The scheme just did not work. A company incorporated to purchase a property and then transfer it to its individual owners by way of a capital reduction did not avoid any tax as the subscription price of their shares formed consideration for the property.
New research shows that 40% of HMRC's list of deliberate tax defaulters are involved in engineering and construction. Gross Payment Status (GPS) is conditional on tax compliance, new Construction Industry Scheme (CIS) registration tests apply from 6 April 2024.