SME Tax News

In Fish Homes Ltd V HMRC [2020] TC7666, the First Tier Tribunal (FTT) held that the purchase of a non-commercially lettable flat was a dwelling for the purposes of Stamp Duty Land Tax (SDLT).

In Bostan Khan v HMRC [2020] UKUT 0168, the Upper Tribunal (UT) rejected a taxpayer’s argument that a company purchase of his shares was not a distribution as it was part of his wider agreement to purchase a controlling interest in the company.

In HMRC v Vermilion Holdings Limited v [2020] UKUT162, the Upper Tribunal (UT) held that share options granted to a director were Employment-Related Securities. The employment did not have to be the sole reason for the grant of the options, it was enough that it was one of the reasons.

COVID-19: the Chancellor announced changes to the Coronavirus Job Retention Scheme (CJRS) on 29 May 2020. The scheme currently extends until the end of October 2020. Under taper provisions, furloughed employees will be able to work part-time and employers will begin to contribute to Employers' National Insurance (ERs NI).

The Chancellor has announced that he is extending the Self-Employment Income Support Scheme (SEISS) by a further, and final, three months at a reduced rate of 70% of average monthly trading profits.


We are covering quite a variety of topics featuring 'the home' this week and we continue to update the COVID-19 support tracker.