SME Tax News

In Ryden Contractors Limited v HMRC [2020] TC07937, the First Tier Tribunal (FTT) rejected an appeal against Corporation Tax late filing penalties. Whilst there had been reasonable excuse, this did not explain the still outstanding return.

In Waterside Escapes Ltd v HMRC [2020] TC7881, Stamp Duty Land Tax (SDLT) relief was clawed back on the purchase of a high-value residential property from a partnership due to its occupation by a director. It proved a challenge in determining how to attribute the control tests and calculate the Sum of the Lower Proportions.

In Hans Solvkjaer v HMRC [2020] TC07933, the First Tier Tribunal (FTT) dismissed the taxpayer’s application for permission to make a late penalty appeal: there was no compelling evidence to justify one.

In Forest Commercial Services Ltd v HMRC [2020] TC7944 a company narrowly escaped a £20k tax penalty when it inaccurately claimed relief from the Stamp Duty Land Tax (SDLT) 15% higher rate charge on a dwelling it developed that was subsequently occupied by its owners.

Prime Minister Boris Johnson has announced a one-off £1,000 grant for ‘wet-led pubs’ within Tiers 2 and 3 in lieu of Christmas trade.

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Following a week of insolvencies, we review a couple of cases where the directors of failed companies have found themselves under attack by insolvency professionals. We have also made a handy summary of HMRC's Covid-19 compliance concessions.