SME Tax News

In John Leonard McNeill Shelford as Trustee of the Herbert Life Interest Trust Settlement & Ors v HMRC [2019] TC7549, the First Tier Tribunal found that a home loan scheme was not effective IHT planning. The transactions were void and the assets remained in the estate on death.

HMRC have announced a change to the extension of the off-payroll rules (IR35) to the private sector which will now only apply to payments made for services provided on or after 6 April 2020.

The statutory legacy amount due to a surviving spouse or civil partner when an individual has died intestate has been increased for the first time in over 5 years.

The Law Commission has published a new report about the use and validity of electronic signatures on documents.

In Nicholas Walewski v HMRC [2020] TC7554, the First Tier Tribunal dismissed an appeal against a reallocation of the profits of mixed-member LLPs to an individual partner. There was no evidence the profit allocations were for any reason other than the individual’s power to enjoy them.


Last week, the government published draft legislation detailing the 6 April 2020 changes to National Insurance thresholds. Disappointingly, they have decided to diverge the thresholds at which employee and employer make contributions. We see the divergence of the thresholds as an added and unwelcome complication and something that is really annoying if you are programming software and tools.