SME Tax News

HMRC have issued their latest Making tax Digital for Agents update. We have summarised the key content for you with links to our detailed guidance on the topics covered.

In Golamreza Qolaminejite aka Anthony Cooper v HMRC [2019] TC4277, “Cooper” a business tax investigation covered many years. It was the First Tier Tribunal's (FTT's) role to consider the burden of proof from two different angles, from the burden of displacing an assessment and that of demonstrating culpability in order to allow a late assesssment.

The Financial Reporting Council (FRC) has issued a major revision of audit and ethical rules in its new Revised Ethical Standards 2019 with the aim of strengthening auditor independence and to prevent conflicts of interest.

We are celebrating this festive time of year with a Christmas Selection Box of different tax reliefs and exemptions. As it is the time for giving and sharing, we hope that our "Box" will save you pounds rather than adding them!

In Lady Lloyd-Webber and Lord Lloyd-Webber v HMRC [2019] TC7488, the First Tier Tribunal allowed relief for payments on a failed off-plan villa purchase. There was a disposal of contractual rights and the capital losses were allowable.

We are celebrating this festive time of year with a Christmas Selection Box of different tax reliefs and exemptions. As it is the time for giving and sharing, we hope that our "Box" will save you pounds rather than adding them!