SME Tax News

In Archibald & Anor v Alexander [2020] EWHC 1621 (Ch), the High Court held that a property owned by one sibling was held on constructive trust for her brother and sister who were not on the title deeds. This was the family’s intention when the property was purchased.

Despite the COVID-19 lockdown continuing into July, it looks like being a busy month for businesses and their accountants with a long list of things to do before the end of the month.

HMRC have been contacting individuals with disguised remuneration loans to see if they wish to conclude settlement of their tax liabilities ahead of the loan charge deadline of 30 September 2020.

Missed our SME Tax Web-updates in June? Here is a summary of the month.

Hello

The week the House of Commons published its own FAQ on both the coronavirus Job Retention Scheme (JRS) and the Self Employment Income Support Scheme (SEISS), both of these are definitely worth reviewing.

In Aqeela Hashmi v HMRC [2020] TC7715, the First Tier Tribunal (FTT) dismissed claims for Private Residence Relief for three properties sold in three consecutive years. The occupation of the properties did not have sufficient permanence or continuity for relief to apply.