The Supreme Court has confirmed that Uber's drivers are workers and not self-employed. The taxi-tech business failed to persuade judges that it acted merely as an agent when it supplied enabling technology to the drivers via its App as it exerted such complete control over the way in which the driver worked.
SME Tax News
HMRC have announced that Self Assessment taxpayers will not be charged the usual 5% late payment penalty provided that they pay their tax or set up a payment plan by 1 April 2021.
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We have a great range of news and updates this week. Ignoring the Coronavirus for a minute, it is a time of big changes in tax.
HMRC have issued the Agent Update for February 2021. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Some of the following items have been duplicated in this month's Employer Bulletin and rather than reproduce these we have linked to those updates where appropriate, see: Employer Bulletin February 2021
A new 'SME Brexit Support Fund' is a grant of up to £2,000 towards training or professional advice. Unlike the new Irish Brexit voucher, the GB grant is only available to the largest of small business.
In HMRC v The Quentin Skinner 2005 Settlements [2021] UKUT 0029, the Upper Tribunal (UT) denied a claim for Entrepreneurs’ Relief on the sale of shares by a trust. The individual must have been a qualifying beneficiary throughout the one-year period when the personal company condition was met.
HMRC's policy briefing 'Supporting organisations to comply with changes to the Off-Payroll Working rules (IR35)' notes a one-year soft landing on penalties and contains some useful examples to illustrate how it expects to deal with PAYE compliance reviews.
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As you might have seen, HMRC has now published details of Income Tax and NICs rates and allowances for next year. We also have the details for calculating car and van benefits. These are free for all to view in the Tax Data section of our website.
In Simon Padfield, Satnam Bhogal, Allan Dunn & Conor McCloskeyv HMRC [2020] TC07983, the First Tier Tribunal (FTT) held that a tax avoidance scheme involving derivative trading to generate an allowable loss and a tax-free gain in separate transactions had to be viewed as a whole, with the gain cancelling out the loss. This is an extended analysis of the case for subscribers.
HMRC have published their Employer Bulletin for February 2021. We summarise the key content for you, with links to our detailed guidance on the topics covered.