Missed our SME Tax Updates in August? Here is a summary of the month.
SME Tax News
The Chancellor, Rachel Reeves, has announced that the 2025 Autumn Budget will be presented on Wednesday, 26 November 2025.
Hello,
There are several important updates for employers this week, as HMRC publish their latest Employer Bulletin. We also have the August Agent Update, a First Tier Tribunal decision considering the meaning of 'life', and revised company car advisory fuel rates from 1 September.
In Darren Locke v HMRC [2025] TC09604, the First Tier Tribunal (FTT) found that a taxpayer had deliberately failed to notify HMRC of his chargeability to Income Tax. The obligation to notify applied to all taxable income and did not rest solely on whether a profit had been made in the taxpayer’s rental business.
In Craig William Burley v HMRC [2025] TC09613, the First Tier Tribunal (FTT) found that a taxpayer remained entitled to, and therefore subject to Income Tax on, partnership profits. This was despite an assignment of his partnership interest to a Limited Liability Partnership in which he had no profit share.
HMRC have lowered the threshold for requesting supporting evidence for additional and higher-rate taxpayers who claim relief on their personal pension via their PAYE tax code. In addition, claims can no longer be made by telephone. HMRC's guidance has now been updated, detailing the new rules.
HMRC have published new advisory fuel rates for company car drivers that apply from 1 September 2025. The rate for fully electric cars will now depend on whether the car is charged at an employee's home address or using a public charger.
HMRC have published their Agent Update for August 2025. We have summarised the key content with links to our detailed guidance on the topics covered, including advice on preparing your agent services account for Making Tax Digital (MTD) for Income Tax.
HMRC have published their Employer Bulletin for August 2025. We have summarised the key content for you, which links to our detailed guidance on the topics covered.
In Lexgreen Services Limited v HMRC [2025] TC09618, the First Tier Tribunal (FTT) found that a company had a ‘life’ for Inheritance Tax (IHT) purposes. This meant that the company was liable to pay IHT arising on a non-resident trust’s ten-year anniversary, as the trust's settlor.
