In Gary Quillan v HMRC [2025] TC09487, the First Tier Tribunal (FTT) found that no Income Tax charge arose on an overdrawn director's loan from a company in insolvency, as the loan had not been formally released or written off.
SME Tax News
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There is something of a VAT theme this week, as we explore the latest decision on mobile app ride-hailing and the Tour Operators Margin Scheme (TOMS), the ongoing saga of the VAT treatment of Mega Marshmallows, and the new VAT road fuel scale charges which apply from 1 May 2025.
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This week we examine the newly published 2024-25 tax return, provide an important reminder for some Furnished Holiday Let owners and report HMRC's security concerns surrounding Self Assessment repayments.
In Jonathan Paul Padbury v The Welsh Revenue Authority [2025] TC09470, the First Tier Tribunal (FTT) found that a taxpayer was not entitled to a refund of the higher rate of Land Transaction Tax (LTT). The impact of Coronavirus, which had delayed the sale of the taxpayer's previous primary residence, could not be considered.
In George Mantides v HMRC [2025] UKUT00124, the Upper Tribunal (UT) found that a hospital locum who operated through a Personal Service Company was subject to the IR35 rules. The hypothetical contract was one of employment.
As we're now counting down to Making Tax Digital (MTD) for Income Tax, HMRC’s MTD Team held an event for tax agents at Canary Wharf this week. We look at the practical suggestions arising from that session.
HMRC have stopped issuing Self Assessment repayments over the telephone, webchat and the Agent Dedicated Line (ADL). According to the Institute of Chartered Accountants in England and Wales (ICAEW), HMRC have quoted 'security concerns' for the suspension.
Following the abolition of the Furnished Holiday Letting (FHL) regime on 6 April 2025, action may be needed by some joint FHL owners, who are married or in a civil partnership, to ensure that they continue to be taxed on the correct share of profits in the future.
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This week we cover a variety of topics including an increase in HMRC’s late payment interest rates and the launch of the Personal Tax Query Resolution Service for Agents. We also have more toolkits and guides to help navigate the 2025-26 tax year.
HMRC's Personal Tax Query Resolution Service for Agents is now live. It is intended to provide an escalation route for Self Assessment and PAYE queries for individuals that HMRC’s Agent Dedicated Line or Agent Webchat have not resolved.
