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SME Tax News

Fourteen arrested for phishing attack

Last Updated: 10 July 2025

HMRC have reported that Romania's Police’s Economic Crimes Investigation Directorate have arrested thirteen people in connection with phishing attacks on its systems, with British police arresting one more in Preston. They have been detained on suspicion of computer fraud, money laundering and illegal access to a computer system.

Romanian_Police_Raid

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Ross Martin Tax: SME Tax Update 10 July 2025

Last Updated: 10 July 2025

Hello,

There is something of an international theme to this week’s SME Tax Update, as our case summaries include issues such as the ‘place of effective management' of a trust, Business Investment Relief (BIR), and the UK Income Tax chargeability of a non-UK resident partner in UK-based Limited Liability Partnerships (LLPs).

SME tax news 6

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Tourism tax approved for Wales

Last Updated: 10 July 2025

The Senedd, the Welsh Parliament, has voted to introduce the Visitor Accommodation (Register and Levy) Etc (Wales) Bill. This could see a family of four paying an extra £36.40 for a week's hotel or B&B stay.

Landscape

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Director's loan prevented Business Investment Relief

Last Updated: 10 July 2025

In Benoit d’Angelin v HMRC [2025] UKUT 00212, the Upper Tribunal (UT) found that the provision of a Director's Loan Account (DLA) was an extraction of value, such that Business Investment Relief (BIR) was not available. 

Pre-Paid_Charge_Card

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Legislation Day set for 21 July 2025

Last Updated: 08 July 2025

In a written statement to Parliament, James Murray, Exchequer Secretary to the Treasury, has announced that 'Legislation Day' (L-Day) will be on Monday, 21 July 2025. 

Lady of Justice

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CoA rules 'place of effective management' not jurisdiction where trustees appointed

Last Updated: 09 July 2025

In Geoffrey Hawarth, Ian Lenagan and SG Kleinwort Hambros Trust Company Ltd v HMRC [2025] EWCA Civ 822, the Court of Appeal (CoA) found that a trust's 'place of effective management' was located in the UK where general management of the trust was undertaken, and not in the overseas jurisdiction where the trustees had been appointed. 

Jersey with pound clouds

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Remuneration trust contributions not deductible for CT purposes

Last Updated: 10 July 2025

In Marlborough DP Ltd v HMRC [2025] EWCA Civ 796, the Court of Appeal (CoA) agreed with an earlier ruling made by the Upper Tribunal (UT), in which contributions made by a dentist to a Paul Baxendale-Walker remuneration trust were found to be 'in connection with' his employment. 

Offices and trees

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Ross Martin Tax: SME Tax Update 3 July 2025

Last Updated: 03 July 2025

Hello,

Transactions in Securities, Entrepreneurs' Relief (now Business Asset Disposal Relief) and disguised remuneration are among the hot topics in the courts and tribunals this week. We also examine several other current issues, including beneficial loans, as well as the reformed Overseas Workday Relief rules.

SME tax news 6

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Non-UK resident partner's profits taxable in UK

Last Updated: 10 July 2025

In Mark Wallace v HMRC [2025] TC09563, the First Tier Tribunal (FTT) found that a non-UK resident partner in UK-based Limited Liability Partnerships (LLPs) was liable to Income Tax on their share of profits derived from UK trading activities with non-UK counterparties.

Partnership agreement

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Updates to List 3, approved organisations and societies

Last Updated: 08 July 2025

HMRC have regularly updated ‘List 3’, its list of approved professional organisations and learned societies. Several new organisations have been added over the last six months.

Different trades

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  1. CoA rules vandalised property 'residential' for SDLT purposes
  2. HMRC right to exercise 'the 7A power' in disguised remuneration case
  3. Upper Tribunal reverses TiS block on EIS disposal
  4. SME Tax Monthly Summary June 2025
  5. Ross Martin Tax: SME Tax Update 26 June 2025
  6. Entrepreneurs' Relief denied due to substantial non-trading

Subcategories

Archived SME tax news Article Count:  336

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What's new?

  • Fourteen arrested for phishing attack
  • Ross Martin Tax: SME Tax Update 10 July 2025
  • Tourism tax approved for Wales
  • Director's loan prevented Business Investment Relief
  • Non-UK resident partner's profits taxable in UK
  • Remuneration trust contributions not deductible for CT purposes
  • CoA rules 'place of effective management' not jurisdiction where trustees appointed
  • Legislation Day set for 21 July 2025
  • Ross Martin Tax: SME Tax Update 3 July 2025
  • Entrepreneurs' Relief denied due to substantial non-trading
  • CoA rules vandalised property 'residential' for SDLT purposes
  • Updates to List 3, approved organisations and societies
  • Loans: Employment-related (beneficial loans)
  • Payments On Account (POAs): Self Assessment
  • HMRC right to exercise 'the 7A power' in disguised remuneration case
  • Upper Tribunal reverses TiS block on EIS disposal
  • SME Tax Monthly Summary June 2025
  • Ross Martin Tax: SME Tax Update 26 June 2025
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