In Ardeshir Naghshineh v HMRC [2022] EWCA Civ 19, the Court of Appeal dismissed a farmer’s sideways loss relief claims. The case should have failed for lack of evidence but in any event, based on the evidence which was available, the reasonable expectation of profit test was not met.
SME Tax News
The government has published its response to the 2018 consultation ‘Business rates treatment of self-catering accommodation’ which considered options to strengthen the criteria for holiday lets to be liable for Business Rates.
In Coyles Millar v HMRC [2021] TC08355, the First Tier Tribunal (FTT) found that a four-year time limit applies to repayments of overpaid Machine Games Duty (MGD).
HMRC have announced that changes to the VAT penalty and interest rules due to come into force from April 2022 are to be delayed to 1 January 2023.
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In Dorothy Johnson v HMRC [2021] TC08346, the First Tier Tribunal (FTT) dismissed a claim that a nurse’s salary paid during a university training period was non-taxable scholarship income. The individual had remained employed throughout and the payments were taxable earnings.
A new report by MPs on the Public Accounts Committee on 'Challenges in implementing digital change' packs some hard punches. It concludes that there's a chronic lack of digital skills and capability among the government’s senior non-specialist leadership which means there is a lack of understanding of the scope of its vast IT programmes. Many of these have embedded ‘legacy’ systems dating as far back as the 1970s.
HMRC have updated their guidance on what constitutes a 'reasonable' excuse as grounds for appealing a tax penalty.
The Public Accounts Committee (PAC) has released a report covering DEFRA's proposals to replace farming subsidies following Brexit. The PACs says Defra itself concedes “its confidence in the scheme looks like blind optimism”, noting that Defra has given no detail about how either the necessary productivity increases or environmental benefits will be brought about, nor how these will offset the new Environmental Land Management Scheme’s dramatic effect on English farmers, who will see their income from direct payments reduce by more than half by 2024-25.
Following changes to the excepted estates rules from 1 January 2022, certain Inheritance Tax (IHT) forms can no longer be used for deaths after 31 December 2021 where the estate is non-taxpaying. A different process must be followed.