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SME Tax News
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We are focusing mainly on Corporation Tax this week. We have created a topical update that takes you on a whistlestop tour of all the changes that apply from 1 April 2023, along with new guides that will assist you in completing your CT600 returns.
In M Group Holdings Limited v HMRC [2023] UKUT 213, the Upper Tribunal (UT) confirmed that the Substantial Shareholding Exemption (SSE) legislation could not be interpreted to allow looking through the ownership of a trade back to a time when there was not a group when assessing the 12-month holding period requirement.
In Sunil Joseph v HMRC [2023] TC08895, the First Tier Tribunal (FTT) found that an employee, whose agent had claimed around £27,500 of expenses annually without factual basis, had not taken reasonable care. The inaccuracy penalties charged by HMRC were upheld.
The County Councils Network (CCN) has called on government to give councils greater powers over apprenticeships and adult learning. Data compiled by CCN showed a decline in almost 200,000 people taking part in adult education.
In a further step in HMRC's ongoing campaign targeting offshore company owners, HMRC is sending out nudge letters with a 'Certificate of tax position' to overseas companies who hold UK commercial property.
Missed our SME Tax Web-updates in August? Here is a summary of the month.
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In this week's web-update we investigate a couple of intriguing issues. Can you obtain Research & Development (R&D) Relief if you create a sensory garden? And, is tax relief on the business cost of London's Ultra Low Emission Zone (ULEZ) charge allowable? Employer Advisory fuel rates also change from tomorrow.
According to HMRC some Nursing and Care Homes are stretching the bounds of belief with their claims for Research & Development (R&D) Relief and is asking claimants to watch out for rogue tax agents.
Self-employed and employed drivers are entitled to claim tax relief on clean air charges in all UK cities, including the newly expanded Ultra Low Emission Zone charge (ULEZ) in London, provided that they are undertaking qualifying business travel when the charges are incurred.