The government’s ‘Kickstart’ job creation scheme aims to help young unemployed people. It closed for applications on 17 December 2021.
SME Tax News
HMRC's latest Trusts and Estates newsletter contains some useful information. Here is our enhanced version.
In Guy Holland Bosworth v HMRC [2020] TC7811, the First Tier Tribunal (FTT) refused a claim of Entrepreneurs' Relief where the B shares sold did not meet the personal company conditions. The company articles clearly stated that the shares did not have voting rights.
In Thierry Lucas V HMRC [2020] TC07809, a salary bonus, forming part of a compromise agreement, was not found to be part of any termination payment.
HMRC have doubled the levy on single-use plastic bags to 10p following the results of the consultation 'Single-use carrier bags: extending and increasing the charge'. It will apply to all retailers who have over 250 employees.
HMRC have now upgraded the system to enable reports of second and additional disposals of UK residential property to be made online. Previously, only the first disposal in a tax year could be reported online.
Missed our SME Tax Web-updates in August? Here is a summary of the month.
Hello
This week we have a mixed bag with a new guide for brewers, microbrewers and gin makers, updates to several of our capital allowance guides, some interesting cases and latest Coronavirus tax news.
It has been reported that employers and agents who have submitted forms P11D and P11D(b) on time are receiving penalty warning letters from HMRC.
HMRC have started the next phase of compliance activity on the Coronavirus Job Retention Scheme (CJRS). It has written to around 3,000 employers it believes may have been overpaid. A penalty and tax liability could arise if any overpayment is not repaid in time and there is a failure to notify HMRC about it.