In Wind Energy Renewables LLP v Revenue Scotland [2021] FTSTC 2, Revenue Scotland's seemingly altruistic application to have the appellant awarded expenses was really an attempt to pay only a nominal sum. The Tribunal agreed with the appellant's opposition and decided in their favour.
SME Tax News
In the run-up to our first Virtual Tax Partner Practical Tax conference (held on 12/13 October 2021), we are holding a series of short 'tax workouts' to get you tax-fit for conference time. Each workout will take place online and each session will last 20-25 minutes. Places on each session are limited given on a first-come-first-served basis.
HMRC are now starting the process for issuing penalty notices for disclosures made under the Worldwide Disclosure Facility (WDF) where HMRC issued protective assessments prior to 5 April 2021.
In John Mason v HMRC [2021] TC08216, the First Tier Tribunal (FTT) concluded that a main house and annexe represented a single dwelling. It dismissed the appellants claim for Multiple Dwellings Relief (MDR) as the annexe did not have kitchen facilities and was only accessible with close proximity to the main house.
HMRC have released official statistics covering the creative industries tax reliefs. For the year ending March 2021, a total of £1.31 billion was paid out across the segment with nearly 76% paid out to the film and TV sectors.
In Royal Commonwealth Society for the Blind v John Wayland Beasant and Benjamin How Davies (as personal representative of the Estate of Audrey Arkell deceased) [2021] EWHC 2315, the High Court interpreted a nil rate band clause in a will so as to cancel a gift to an individual and increase the amount left to charity.
HMRC have released guidance to accompany the draft legislation that they released which covers Uncertain Tax Treatment (UTT) for large businesses.
When you acquire two or more dwellings as part of the same transaction or as linked transactions a claim for Stamp Duty Land Tax (SDLT) Multiple Dwellings Relief (MDR) may well be possible. Our latest survey of unsuccessful claims for MDR by property buyers reveals that buyers and their advisers are getting the rules wrong.
The leading professional bodies have written to the Financial Secretary of the Treasury asking the government to reconsider the timing of proposals to change the tax basis periods and introduce Making Tax Digital (MTD) for Income Tax in April 2023.
HMRC has updated ‘List 3’ its list of approved professional organisations and learned societies. While there do not appear to be any newly added bodies for 2021, 2020 was something of a bumper year. 12 new organisations were added to the list, including, somewhat surprisingly, a Berlin-based German IT body.