Hello,
The football is over, but if you think that you can relax a bit, not a chance! The first clauses for the new draft Finance Act for 2022 are due to be published on 20 July.
SME Tax News
In Keith Fiander and Samantha Brower v HMRC [2021] UKUT 0156, the Upper Tribunal (UT) confirmed that Multiple Dwelling Relief was not available for the purchase of a detached house with an annexe.
In HMRC v Christian Peter Candy UKUT 0170, the Upper Tribunal (UT) allowed HMRC's appeal, finding an SDLT return could not be amended outside the standard 12-month window. It denied a multi-million-pound Stamp Duty Land Tax (SDLT) repayment.
Following recent concerns around how it works in certain circumstances, HMRC have now issued a set of Frequently Asked Questions (FAQs) for the Capital Gains Tax (CGT) online property reporting service.
In Diana Cuffie v HMRC [2021] TC08191, the First Tier Tribunal (FTT) dismissed the taxpayer’s appeal against failure to notify penalties in respect of the High-Income Child Benefit Charge.
HM Treasury has published ‘UK Prospectus Regime: a consultation’. It overlaps with a similar paper from the Financial Conduct Authority (FCA), ‘Primary Markets Effectiveness Review, a consultation’ released on the same day.
In Neil McArthur & Thomas Bloxham v HMRC [2021] TC08186 the First Tier Tribunal (FTT) determined the market value of shares that had been gifted to charity after discounting the valuations offered by two conflicting expert witnesses.
The Ministry of Justice (MOJ) has launched a new consultation on probate fees which proposes a small increase to the current fees and a single flat rate fee regardless of who is making the application or the value of the estate.
Hello,
In this week’s web-update we note the end of the SDLT holiday, we look into the details of the newest COVID-19 grant, and look at cases on closing down tax enquiries as well as tax relief for repairs.
As we count down to the commencement of 'Making Tax Digital for Income tax' (MTD for IT) many of us are concerned over one aspect of quarterly reporting: how will we report income which is accounted for on different year-end dates?