In Keith Fiander and Samantha Brower V HMRC [2020] TC7676, the First Tier Tribunal (FTT) decided that an annexe was not a separate dwelling for Stamp Duty Land Tax (SDLT) Multiple Dwellings Relief (MDR). There was no door separating the house from its annexe.
SME Tax News
In Fish Homes Ltd V HMRC [2020] TC7666, the First Tier Tribunal (FTT) held that the purchase of a non-commercially lettable flat was a dwelling for the purposes of Stamp Duty Land Tax (SDLT).
In Bostan Khan v HMRC [2020] UKUT 0168, the Upper Tribunal (UT) rejected a taxpayer’s argument that a company purchase of his shares was not a distribution as it was part of his wider agreement to purchase a controlling interest in the company.
In HMRC v Vermilion Holdings Limited v [2020] UKUT162, the Upper Tribunal (UT) held that share options granted to a director were Employment-Related Securities. The employment did not have to be the sole reason for the grant of the options, it was enough that it was one of the reasons.
The government has opened a new consultation ‘Taxation of Coronavirus (COVID-19) support payments’ on draft legislation which includes measures to tax the grants available, recover payments from businesses not entitled to them and penalise deliberate non-compliance.
Missed our SME Tax Web-updates in May? Here is a summary of the month.
The Chancellor has announced that he is extending the Self-Employment Income Support Scheme (SEISS) by a further, and final, three months at a reduced rate of 70% of average monthly trading profits.
COVID-19: the Chancellor announced changes to the Coronavirus Job Retention Scheme (CJRS) on 29 May 2020. The scheme currently extends until the end of October 2020. Under taper provisions, furloughed employees will be able to work part-time and employers will begin to contribute to Employers' National Insurance (ERs NI).
Hello,
We are covering quite a variety of topics featuring 'the home' this week and we continue to update the COVID-19 support tracker.
In Fowler v HMRC [2020] UKSC22, the Supreme Court found that a diver was an employee for the purposes of a double tax treaty and so subject to UK tax on his income.