HMRC have published new advisory fuel rates for company car drivers which will apply from 1 September 2019.
SME Tax News
In HMRC v NCL Investments Limited, Smith & Williamson Corporate Services Limited v HMRC [2019] UKUTT0111 the Upper Tribunal confirmed that the grant of share options by an employee benefit trust was deductible as a trading expenses under IFRS2.
In Richard Lee & Nigel Bunter v HMRC [2019] TC07269 the First-Tier tribunal confirmed that time apportionment is a just and reasonable basis to apportion a capital gain between business and non-business assets.
In Bruce Cawdron v HMRC [2019] TC07295 the FTT held payments to a GP were his remuneration and not compensation to his personal company for the time he spent working elsewhere.
Hello
We have another fun-packed web-update this week. Some good cases: capital allowances, company cars and EBT discovery. There is also the Employer and Agent update and our ideas for tax simplification.
We are looking for tax writers and advisers who are keen on a great work/life balance, are reliable and have practical experience in working in SME tax.
HMRC have published their Employer Bulletin for August 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Cheshire Cavity Storage 1 Limited -and- EDF Energy (Gas Storage Hole House) Limited v HMRC [2019] TC07301 the FTT dismissed claims to capital allowances on underground gas storage cavities. They were not plant and machinery.
- Car leased to chauffeur was a taxable benefit for director
- Discovery on disclosed EBT loans is valid
- Agent update August/September 2019
- CIS VAT reverse charge: is the software ready for the change?
- Ten easy wins for the new chancellor...on tax simplification
- Nichola's SME Tax W-update 16 August 2019