SME Tax News

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.

In the Official Receiver V Camila Batmanghelidjh & others [2020] EWHC 2839 (Ch), the Official Receiver (OR) has been barred from making certain allegations of impropriety against the board of the Kids Company and its trustees. The OR should have raised these matters sooner.

In Prime Aesthetics Limited v The Welsh Revenue Authority [2020] TC07948, the First Tier Tribunal (FTT) dismissed the penalty appeal on the grounds that there was no reasonable excuse attributable to COVID-19.

In Swanage Sea Rowing Club (SSRC) v HMRC [2020] (TC07904), the First Tier Tribunal (FTT) decided that a boathouse constructed by a charity was not intended for a ‘relevant charitable purpose’.

 

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