SME Tax News

In Michael Anderson v HMRC [2021] TC8290, the First Tier Tribunal (FTT) allowed the taxpayer's appeal against failure to notify penalties. The taxpayer was not aware his partner was receiving child benefit and the FTT judged that this was a reasonable excuse.

The Treasury has released ‘Net Zero Review’ which warns that businesses and households will face new taxes and levies for Britain to achieve net-zero decarbonisation. The loss of petrol/diesel tax revenues would have a singularly significant impact on government finances.

In Alastair Graham Knights, Evergreen Trees and Shrubs Limited and Knights Investment Management Limited v Townsend Harrison Ltd, EWHC 2563, the High Court (HC) adjudged that an accounting firm neither had nor breached, a duty of care when providing introductions to providers of tax avoidance schemes.

In Grazer Learning Limited v HMRC [2021] TC08282, the First Tier Tribunal (FTT) rejected an appeal against HMRC's denial of an R&D expenditure claim. The appellant's evidence was ruled inadmissible by the court on the basis that it was filed late and not shared with HMRC.

In Martin Joseph Long v HMRC [2021] TC8272, the First Tier Tribunal (FTT) held that two employments could not be aggregated for the purposes of the National Insurance Contributions (NICs) lower earnings limit. The employers were not carrying on business in association with each other.

In HMRC v Peter, Stephen and Anne Fisher [2021] EWCA Civ 1438, the Court of Appeal (CoA) adjudged the transfer of assets abroad provisions applied to the transfer of a UK business to a Gibraltar company for two of the three shareholders. The profits of the company were subject to Income Tax. 


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