In Stephen Hoey v HMRC [2021] UT 0082, the Upper Tribunal confirmed that the First Tier Tribunal has no power to challenge HMRC's discretion to disapply the PAYE regulations and upheld an EBT discovery assessment.
SME Tax News
Hello,
We have another fun-packed edition this week as it's time for HMRC's new Agent and Employer Updates, we have news of new COVID-19 grant funding and we are featuring some practical new subscriber guides for 2021-22.
HMRC have issued their Agent Update for April 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.
HMRC have published their Employer Bulletin for April 2021. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Daarasp LLP & Betex LLP v HMRC [2021] UKUT 0087, the Upper Tribunal (UT) dismissed a claim for losses resulting from capital allowances. The conclusions in the closure notices issued by HMRC were not inconsistent with the losses being reduced to nil.
HMRC have updated their Self-Employment Income Support Scheme (SEISS) guidance to reflect the fourth grant which will become available later this month.
The SME Brexit Support Fund is now open. It offers up to £2,000 to help with training or professional advice to meet customs, excise, import VAT or safety and security declaration requirements following Brexit.
Guidance for Senior Accounting Officers (SAOs) has been updated by HMRC following the First Tier Tribunal's (FTT's) dismisal of an appeal in the Castlelaw case. The guidance has been relaxed in relation to reporting obligations for dormant companies and penalties for late certificate filing.
HM Treasury has issued a new call for evidence about the Enterprise Management Incentive (EMI) scheme.
Happy New Tax Year!
The start of the new tax year often provides the impetus for new business start-ups. This year, it may be more a case of re-starting if you have been forced into COVID-19-induced hibernation. If you are re-starting or just planning, the government has just published details of its new range of restart grants and recovery loan funding.