In Marie Guerlain-Desai v HMRC [2023] TC8795, the First Tier Tribunal (FTT) allowed a late appeal against a SDLT assessment. While the delay due to human error was considered significant and serious, the tax at stake was significant and HMRC’s remit was to collect the right amount of tax.
SME Tax News
In Shafique Uddin & Kazitula Limited v HMRC [2023] UKUT99, the Upper Tribunal (UT) confirmed denial of a late appeal against VAT and Corporation Tax assessments. It agreed that the taxpayer had been misled by his advisors however he had not acted reasonably and should have been more proactive in dealing with the appeals.
HMRC have issued their Agent Update for April 2023. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Hello,
We have something of an 'Employers' Special' this week, with a new Employer Bulletin from HMRC and an Employers What's new 2023-24 guide. There is something for everyone though, as we also have several new season guides for Landlords, Company Directors and other taxpayers.
HMRC have published their Employer Bulletin for April 2023. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
In Morgan Lloyd Trustees Limited & Others v HMRC [2023] TC08779, seven companies were hit with pensions unauthorised payment charges and their financial adviser was fined when a scheme to release employers' pension funds as loans back to the companies secured on their overvalued intellectual property backfired.
Figures published by the Insolvency Service reveal that nearly half of the 932 director disqualifications obtained by the Insolvency Service in 2022-23 were as a result of COVID-19-related misconduct. The length of the period of a director's disqualification have also increased.
In James Charles Pride as Trustee of the Estate of the Late Geraldine Jill Pride v HMRC [2022] TC08776, the First Tier Tribunal (FTT) found that loan notes issued by a trust of which the deceased was life tenant, were a liability of her death estate. Their value was reduced to nil as she had provided the consideration for the note so there was no reduction in the Inheritance Tax due.
In John Buckingham v HMRC [2023] TC08782, the First Tier Tribunal (FTT) found that a Special Dividend paid as part of a merger was taxable partly as income and partly as capital. In making its decision, the FTT was highly critical of HMRC and noted that a statutory review decision was given out of time.
In NWM Solutions Ltd v HMRC [2023] TC8788, the First Tier Tribunal (FTT) found that as an employer met all the conditions imposed according to a PAYE dispensation covering subsistence expenses, HMRC was bound by that agreement and could not seek to change its view later.