SME Tax News

HMRC have issued the Agent Update for June/July 2019. We have summarised the key content for you with links to our detailed guidance on the topics covered.

When is the date of disposal for Capital Gains tax purposes? When do special rules apply? Why does it matter?

In David Briggs & Others v HMRC [2019] TC07166 the FTT held that a change in a right to earnout consideration from loan notes to cash was a disposal of that right and triggered the gain deferred on the original disposal.

HMRC have completed their review of cases where a failure to notify penalty was issued to taxpayers who did not register for the High Income Child Benefit Charge, repaying £1.8m in penalties.

Hello

This week we have some amazing announcements to make. We also have free CPD in the form of our Company Tax update and worrying news about loan charge settlements.

In HMRC v Total E&P North Sea UK Limited and another [2019] UKUT TC133 the Upper Tribunal overruled the FTT; the method used by the taxpayers to apportion their company profits went beyond what was just and reasonable.