In Jane Borton t/a Contract Build v HMRC [2016] UKFTT TC05224 the First Tier Tribunal (FTT) agreed that the input VAT paid on the purchase of a car by a sole trader could be reclaimed.
SME Tax News
In Spring Salmon & Seafood Limited v HMRC the Upper Tribunal (UT) held that HMRC were prevented from assessing PAYE and NICs due to a previous undertaking they had given to the company.
In GDR Food Technology Limited v HMRC [2016] TC05219 investors were denied SEIS relief after the company's advisors submitted an EIS compliance statement to HMRC instead of an SEIS one.
In Zipvit Ltd v HMRC the Upper Tribunal confirmed the First Tier Tribunal’s decision that Zipvit could not reclaim input VAT in respect of services received which were wrongly invoiced as exempt.
In R Stayton v HMRC [2016] TC05104 the First Tier Tribunal (FTT) found that a property developer’s wife who sold a house she never lived in was not trading.
In R King & Others v HMRC [2016] TC05163, the First Tier Tribunal (FTT) found that the members of an LLP could declare a different profit share in their personal returns if they believed that the figure in the partnership return was incorrect.
Hello
What a week! Quite apart from Brexit (and the football...), life for our totally digital business is always a bundle of laughs: we've had two days of power cuts, Windows 10 upgrade issues and DNS errors. The show goes on! We are back this time with some 'back-to-basics' guides, a look at what Brexit means for tax, HMRC's Agent update, a couple of cases and updates to our guides.
In Wholesale Clearance UK Ltd v HMRC [2016] UKFTT a company's failure to reconcile its VAT to its turnover resulted in a £17k VAT bill.