SME Tax News

The Scottish Budget was originally scheduled for election day, 12 December 2019. It has therefore been delayed and no new date has yet been set.

Doctors may have done other high earning UK taxpayers a favour by pushing the issue of the Annual Allowance Taper up the political agenda. What are the issues? Are doctors really being treated badly?


We have a mixed bag of updates and case reports this week, but funnily enough, the capital taxes are the ones that always catch our eyes.

In Margaret Vincent v HMRC [2019] TC7432, the First Tier Tribunal found that a valid interest in possession had been created in a family home so it had to be included in the beneficiary’s death estate.

In William Charnley & Maxwell Hodgkinson as Executors of the Estate of Thomas Gill (deceased) v HMRC [2019] TC7425 the First Tier Tribunal allowed claims to APR and BPR. It was a working farm so the house was a farmhouse and the business was not an investment business.

In Stephen Reneaux and Lynne Reneaux-Smith v HMRC [2019] TC7441, a claim for Entrepreneur’s Relief under the associated disposal rules failed. There had been a partnership, however it was not engaged in any trade.