In The Trustees of the Peter Buckley Settlement v HMRC [2024] TC09022, the First Tier Tribunal (FTT) found that Capital Gains Tax (CGT) Entrepreneurs’ Relief was not available on a trust’s share disposal. The company was not the qualifying beneficiary’s 'personal company' for the required period.
Walkers ‘Sensations Poppadoms’ were standard rated for VAT
In Walkers Snack Foods Limited v HMRC [2024] TC09024, the First Tier Tribunal (FTT) found that Walkers ‘Sensations Poppadoms’ are standard rated for VAT. They are made from potato and potato starch, and were similar to potato crisps.
Salary in lieu of dividends did not qualify for CJRS
In Bandstream Media and Corporate Communications Limited v HMRC [2024] TC09016, the First Tier Tribunal (FTT) found that an employer could not base its Coronavirus Job Retention Scheme (CJRS) claims on a salary which was increased after 19 March 2020, and in lieu of dividends.
Nichola's SME Tax W-update 11 January 2024
Hello
The ITV drama 'Mr Bates v the Post Office' has been gripping the nation and causing more than a stir in the press. More details will emerge on the Post Office's and Fujitsu's failed accounting and computer systems as the government’s inquiry re-opens. We have every sympathy for victims of the Post Office and its Horizon computer system.
Side-Hustles & Tax
There has been a lot of confusion online about 'side-hustle' tax.
Money Saving Expert Martin Lewis, accidentally overcomplicated the rules and then tried to correct himself by oversimplifying them.
You will need to register for tax if your side-hustle amounts to running a business or trade and you are making a profit. We explain what that means.
Welsh visitor accommodation registration and licensing scheme
The Welsh government has announced that a statutory registration and licensing scheme for all visitor accommodation in Wales will be introduced.
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