HMRC have regularly updated ‘List 3’, its list of approved professional organisations and learned societies. Several new organisations have been added over the last six months.
SME Tax News
In Stephen White, Gary Laws & Others v HMRC [2025] EWHC 1600, the High Court (HC) found that HMRC were right to exercise 'the 7A power', removing the requirement for the 'end user' in a disguised remuneration scheme to comply with PAYE Regulations.
In Hugh Edward Mark Osmond & Anor v HMRC [2025] UKUT 00183, the Upper Tribunal (UT) found that the First Tier Tribunal (FTT) made an error in law. A main purpose of crystallising Enterprise Investment Scheme (EIS) relief was not automatically, as a matter of law, the obtaining of an Income Tax advantage, even though this may have been its effect.
Missed our SME Tax Updates in June? Here is a summary of the month.
Hello,
There’s a lot to catch up on this week, with a new Agent Update, Employer Bulletin, two Revenue & Customs Briefs, estimated tax gap figures for 2023-24, and much more, including several decisions from the tax tribunals.
HMRC have published their Agent Update for June 2025. We have summarised the key content with links to our detailed guidance on the topics covered, including an update on fraudulent activity on HMRC's tax accounts, written-off directors' loans and changes in the reporting requirements for cryptoassets.
HMRC have published their Employer Bulletin for June 2025. We have summarised the key content for you, which links to our detailed guidance on the topics covered.
In Dennis Lucas v HMRC [2025] TC09550, the First Tier Tribunal (FTT) found that discovery assessments issued to a taxpayer who had been misled by a repayment claims company were valid.
HMRC have published 'Measuring Tax Gaps 2025', which says that small businesses failed to pay 40% of the corporation taxes that they owed in 2023-24. Overall, the tax gap estimate (the difference between what tax is expected to be paid and actually paid) was 5.3% for 2023-24.
In Conchri Investments Limited v HMRC [2025] TC09540, the First Tier Tribunal (FTT) found no reasonable excuse or special circumstances to justify reducing £15,700 of penalties charged for late Annual Tax on Enveloped Dwellings (ATED) return filings.
