SME Tax News

In Peter Andrew v HMRC [2015] TC04672 the First Tier Tribunal (FTT) concluded that although a termination payment was made due to redundancy it was still fully taxable as it constituted a contractual payment in lieu of notice.

In a move described by the Chartered Institute of Taxation (CIOT) as a "victory for common sense" HMRC have announced that they are phasing out business records checks (BRCs).

HMRC have issued their Agent Update for October 2015: we have summarised all of the key content for you here.

In David Jones V HMRC [2015] TC04643 a self employed consultant anaesthetist with an established private practice at his home was denied tax relief for travel to two of the hospitals at which he visited for work: the number of his visits made his attendance "regular and predictable". Travel to and from home to other hospitals was allowed.

People reaching State Pension age before 5 April 2016 have the chance to top up their state pension by up to £25 per year by making class 3A voluntary contributions before 5 April 2017.

In Mary Walker v HMRC [2015] TC04646 the First Tier Tribunal reduced the penalties for late filing of a P35 on the grounds of reasonable excuse as HMRC had advised the appellant that they would accept the information submitted on paper.  

In James Dutton-Forshaw v HMRC [2015] TC04644 the First Tier Tribunal (FTT) accepted that a property occupied for only seven weeks was a taxpayer's only or main private residence for Capital Gains Tax.

In James H Donald (Darvel) Ltd and others v HMRC [2015] UKUT 0514 (TCC) two schemes to avoid PAYE and NICs using dividends and partnership profits failed.

Two items from HMRC's Employment Related Securities team.