SME Tax News

Coronavirus/COVID-19 July 2020 update. There are some new deadlines and dates for our diaries. This update highlights some of the key measures that may now need your urgent attention.

In HMRC v Kickabout Productions [2020] UKUT 0216, the Upper Tribunal (UT) allowed HMRC’s IR35 appeal finding that a radio presenter was an employee. TalkSPORT was obliged to provide work and this outweighed all other factors of employment status.

HMRC have published a response to their consultation ‘Fifth Money Laundering Directive and Trust Registration Service’ which includes a list of trusts which will now be exempted from registration and a concession relevant to non-UK trusts.

In Heather Jones v The Commissioners for HM Revenue and Customs: [2020] UKUT 0229, the Upper Tribunal allowed an appeal against a discovery assessment for higher rate tax on a severance payment. HMRC had not proved that the assessment was valid.

In Steadfast Manufacturing & Storage Limited v HMRC TC7770, HMRC were unsuccessful in attempting to disallow the costs of resurfacing a yard as capital. The First Tier Tribunal (FTT) found there was no improvement and allowed the costs as a revenue deduction for repairs.

In Fastklean Limited v HMRC [2020] TC2004, an employer who filed Employment Intermediaries Returns to please HMRC was successful in claiming reasonable excuse for late filing. Tax counsel had advised that no returns were due.