In HM Revenue & Customs v SSE Generation Ltd [2021] EWCA Civ 105, the Court of Appeal upheld the decision of the Upper Tribunal that disputed items of expenditure qualified for capital allowances but did not allow extended allowances on a procedural point.
SME Tax News
The Office of Tax Simplification (OTS)'s latest report, “Tax reporting and payment: Simplifying tax for self-employed people and residential landlords” recommends that HMRC make further use of digital systems to simplify how self-employed people and landlords report and pay their tax.
A government review of People with Significant Control (PSC) regulations in 2019 concluded that the PSC register 'is meeting its objectives'. The costs to business have been proportionate and in line with the original estimates.
Missed our SME Tax Web-updates in October? Here is a summary of the month.
In Andrew White and Melanie White v HMRC [2019] TC07434, the First Tier Tribunal (FTT) struck out an appeal concerning the application of Extra Statutory Concession (ESC) D49 regarding Capital Gains Tax (CGT) Private Residence relief (PRR). It did not have jurisdiction to consider it.
In Desmond Higgins v HMRC [2019] EWCA Civ 1860, the Court of Appeal (CoA) has decided that the date of acquisition of an off-plan property for the purpose of Capital Gains Tax (CGT) Private Residence Relief was the date of completion, and not at exchange of contracts.
The Financial Secretary to the Treasury, Jesse Norman, has written to Sir Amyas Morse asking him to send his report on the loan charge review to the new government after the general election.
In Claire Shenstone, Georgina White, Henry White v HMRC [2019] TC7378 the First Tier Tribunal allowed late penalty appeals; reliance on incorrect advice from HMRC was a reasonable excuse.
Hello
This week, a case on trade tariffs; even more crazy than ‘VAT on milk shakes’ it transpires that the final tariff tie-breaker uses a process not unlike 'paper, scissors, stone'.
In Tysim Holdings v HMRC [2019] TC7389 the First Tier Tribunal (FTT) upheld late filing and payment penalties for ATED; ignorance of the law was no excuse for a non-resident taxpayer with a UK legal background.