In Bryan Scambler & Rebecca Scambler v HMRC [2017] UKUT 001 the Upper Tribunal (UT) denied sideways loss relief for dairy farmers who had made losses for over five years.
SME Tax News
The House of Commons Treasury Committee have published a report recommending that HMRC change their approach to Making Tax Digital (MTD).
HMRC have published a response to their consultation earlier this year on ‘Museums and galleries tax relief’.
HMRC have published a response to their further consultation published in August 2016 on ‘Reforms to the taxation of non-domiciles’.
In Abingdon Health Limited v HMRC [2016] TC 05525, EIS relief was denied as shares acquired preferential rights on the issue of a new class of growth shares.
In Gordon Anthony Yablon v HMRC [2016] TC 05539 a late application for enhanced protection was denied as the taxpayer did not have a reasonable excuse for missing the deadline.
In Mark Danvers v HMRC [2016] UKUT 0569 the Upper Tribunal (UT) upheld the earlier decision of the First Tier Tribunal (FTT) that a third party loan to a pension scheme member was an unauthorised payment.
HMRC have published a response to their consultation earlier this year on ‘Tackling offshore tax evasion: Requirement to Correct’.
In Richard White v HMRC [2016] TC05527 the First Tier Tribunal (FTT) found that a loan from a third party to a pension scheme member was an unauthorised payment.