SME Tax News

In HMRC v Professional Game Match Officials [2021] EWCA Civ1370, the Court of Appeal concluded that the First Tier Tribunal (FTT) and Upper Tribunal (UT) had both erred in law when considering the control and mutuality tests in deciding whether football referees were employees. It refused to decide the employment status of the referees and instead remitted the case back to the FTT. 

Hello,

We have a good mix of cases this week, with yet another ‘wrong forms for SEIS’ case where this time the First Tier Tribunal (FTT) took a pragmatic approach and allowed shares to be issued under the Seed Enterprise Investment Scheme (SEIS) despite forms being incorrectly filed for Enterprise Investment Scheme (EIS) relief.

The temporary measures to support businesses from insolvency as a result of COVID-19 are being phased out from 1 October. New targeted measures are to be introduced to help smaller companies.

HMRC have issued their Agent Update for September 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.

The Office of Tax Simplification (OTS) has released a report entitled 'The UK tax year-end date: exploring the potential for change'. This report explores the benefits, costs and wider implications of a change to the UK's year-end tax date. 

In Kwik-Fit Group Limited v HMRC [2021] TC08226, the First Tier Tribunal (FTT) found that loans transferred between group companies following a reorganisation did not maintain their allowable purpose meaning the interest was disallowed.

 

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