HMRC have published their Stamp Taxes news for August 2021. Here is our enhanced version with links to our guides and SDLT tools.
SME Tax News
In The How Development 1 Ltd v HMRC [2021] TC8194, the First Tier Tribunal (FTT) determined that the purchase of a substantial property and grounds consisted entirely of residential property and was subject to higher residential rates of Stamp Duty Land Tax (SDLT).
In Vermilion Holdings Limited v HMRC [2021] CSIH 45, the Inner House of the Court of Session found that replacement share options issued to a director were not made available by reason of his employment. The share options had originally been given to a consultant company in lieu of fees for advisory services.
The case was appealed to the Supreme Court in 2023, their judgment is anticipated in October 2023.
HMRC have published new advisory fuel rates for company car drivers which apply from 1 September 2021. Petrol and diesel rates have increased from the rates applicable for the previous three months.
HM Courts and Tribunals Service (HMCTS) has announced a three-week transition period to enable a smoother conversion to online divorce filing when it becomes mandatory on 13 September 2021.
In Wind Energy Renewables LLP v Revenue Scotland [2021] FTSTC 2, Revenue Scotland's seemingly altruistic application to have the appellant awarded expenses was really an attempt to pay only a nominal sum. The Tribunal agreed with the appellant's opposition and decided in their favour.
In the run-up to our first Virtual Tax Partner Practical Tax conference (held on 12/13 October 2021), we are holding a series of short 'tax workouts' to get you tax-fit for conference time. Each workout will take place online and each session will last 20-25 minutes. Places on each session are limited given on a first-come-first-served basis.
HMRC are now starting the process for issuing penalty notices for disclosures made under the Worldwide Disclosure Facility (WDF) where HMRC issued protective assessments prior to 5 April 2021.
In John Mason v HMRC [2021] TC08216, the First Tier Tribunal (FTT) concluded that a main house and annexe represented a single dwelling. It dismissed the appellants claim for Multiple Dwellings Relief (MDR) as the annexe did not have kitchen facilities and was only accessible with close proximity to the main house.
HMRC have released official statistics covering the creative industries tax reliefs. For the year ending March 2021, a total of £1.31 billion was paid out across the segment with nearly 76% paid out to the film and TV sectors.