SME Tax News

HMRC has published 'Preventing abuse of the R&D tax relief for SMEs' a new consultation. It considers how the new cap on R & D relief may apply to loss making SMEs.

In Harrison Solway Logistics Ltd v HMRC [2019] TC06956 the First Tier Tribunal allowed appeals against Benefit in Kind charges for company cars where the directors repaid the leasing costs of those cars to the company.

In Kevin Fearon v HMRC [2018] TC6818 the FTT found rejected an appeal against four years of tax assessments and penalties for incorrectly claimed subsistence expenses. The errors were deliberate and 56% penalties applied.

In Adrian Omar v HMRC [2018] TC6962, the first tier tribunal (FTT) held that a taxpayer had not been careless in claiming excessive tax relief for pension contributions.

In Ian Coll v HMRC [2019] TC 6971 the first tier tribunal (FTT) held that a taxpayer had a reasonable excuse for late filing because of failures by previously reliable accountants.

In Richard Villar v HMRC [2018] TC 6983 the FTT held that the sale of the business of an orthopaedic surgeon was a disposal of capital and not merely of a right to income.