Hello,
This week’s highlights include the May 2025 Agent Update, HMRC issuing Stop Notices to an individual for the first time, and a report from the National Audit Office (NAO) on collecting the right tax from wealthy individuals.
Ross Martin Tax: SME Tax Update 15 May 2025
Hello,
In what has been a relatively quiet week for tax news, we explore the latest cases on trading loss relief, the novation of directors' loans, and the VAT treatment of assessments within an online maths learning product. We also look at HMRC’s most recent one-to-many letters.
Ross Martin Tax: SME Tax Update 8 May 2025
Hello,
We cover a vast array of topics this week, hopefully meaning there is something for everyone! Between them, our mix of cases explore the gift with reservation rules for Inheritance Tax, the UK tax treatment of distributions by a Jersey company from its share premium and the VAT treatment of providing and fitting telematics devices.
Ross Martin Tax: SME Tax Update 1 May 2025
Hello,
It is a bumper week for tax news. On Monday, HMRC published a ‘tax update’ for Spring 2025, making several important announcements, focusing on simplification, administration and reform. A number of consultations were also launched.
HMRC's Spring 2025 tax update
On 28 April 2025, the Government made several tax policy announcements. These included a delay to the introduction of mandatory payrolling of Benefits In Kind until April 2027, simplifications to the VAT Capital Goods Scheme and revisions to the Check Employment Status for Tax (CEST) tool.
Ross Martin Tax: SME Tax Update 24 April 2025
Hello,
This week, we look at HMRC’s latest Employer Bulletin, which provides various updates for the 2025-26 tax year and guidance on reporting 2024-25 expenses and benefits. In addition, we examine two First Tier Tribunal (FTT) decisions, with one being in the context of an overdrawn director’s loan account.
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