In Amarjeet and Tajinder Mudan v HMRC [2023] TC8777, the First Tier Tribunal (FTT) found a house in a state of disrepair remained 'residential property' for Stamp Duty Land Tax (SDLT) purposes.
SME Tax News
The government is introducing a new short-term/holiday let registration scheme and is also consulting on making changes to the planning rules that could result in house owners requiring planning permission to operate a short-term or holiday let. The rapid rise in short-term letting has had a negative impact on the availability and affordability of local rental housing and has increased house prices, particularly in the South West and London.
In Thomas Merlin Ash v HMRC [2023] TC08749, the First Tier Tribunal (FTT) denied claims under the Self Employment Income Support Scheme (SEISS). Mr Ash, a sole trader who had incorporated his business, had no legitimate expectation of receiving the support just because HMRC had written to him suggesting that he might be eligible.
The Department for Work and Pensions (DWP) has published its report reviewing the State Pension age. This confirms that the increase to age 68 will not be brought forward at present.
Hello,
Happy New Tax Year. It's certainly set to be an exciting one. Manchester is celebrating with the introduction a new tourist tax, set at just £1 per night. It's very good value compared to the cost of parking and substantially cheaper than any of the tourist taxes already in force in many foreign cities.
The Public Accounts Committee (PAC) has published its report into the Digital Services Tax (DST). Whilst HMRC has raised 30% more tax revenues than expected, the tax still only accounts for one-twentieth of total tax revenues and was paid by only 18 taxpayers, with just five of these contributing 90% of the total.
HMRC are sending out further assessments to Income tax and National Insurance in respect of the Loan Charge to taxpayers with employment-related disguised remuneration loans. We also note that taxpayers looking to settle their cases are risking liability to significant and disproportionate IHT charges.
In Ramasamy Danapal v HMRC [2023] UKUT 00086, the Upper Tribunal (UT) found that the First Tier Tribunal (FTT) had made significant errors of law in concluding that a taxpayer and his accountant had acted carelessly and deliberately. This meant that HMRC’s discovery assessments were in fact out of time.
HMRC are currently undertaking checks to see if Income Tax is due on state pensions arrears that have been paid over the last couple of years to individuals who are in Self Assessment. Those affected should expect to receive a letter in the coming weeks.
In Red, White and Green v HMRC [2023] UKUT83, the Upper Tribunal (UT) concluded that the First Tier Tribunal (FTT) had acted properly in its approach to its decision that Eamonn Holmes was effectively employed by ITV. Without any error in law, the decision stood.