SME Tax News

In Julian Blackwell v HMRC [2017] EWCA the Court of Appeal upheld the decision of the the Upper Tier Tribunal (UTT) in concluding that a payment of £17.5 million claimed as a deduction from consideration received on a disposal of shares was not enhancement expenditure.

The decision in David Alexander Keyl v HMRC [2015] FTC/97/2014, in which The Upper Tier Tribunal (UTT) upheld the decision of the First Tier Tribunal to deny the appellant's Annual Investment Allowance claim for the final period of trade. It highlights the importance of planning ahead when ceasing or incorporating your business.  

In JR Scott v HMRC [2015] TC04597 the First Tier Tribunal (FTT) allowed a special relief claim on the basis that HMRC had not addressed the appellant’s argument that determinations raised were unreasonably excessive.

HMRC says that they are concerned by the number of cases in which a company has registered a share scheme for the tax year 2014/15 but has not submitted an annual return online.

Hello again,

I am interested in (amongst other things) a proposal to introduce fees to the tax tribunals. Will a £250 court fee deter you from appealing a £100 penalty?

The Chancellor will make his Autumn Statement on Wednesday 25 November 2015, and will also publish an Office for Budget Responsibility forecast and Spending Review.


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