We are celebrating this festive time of year with a Christmas Selection Box of different tax reliefs and exemptions. As it is the time for giving and sharing, we hope that our "Box" will save you pounds rather than adding them!
SME Tax News
In Teksolutions-Inc v HMRC [2019] TC7456 a company's Research & Development claim was rejected in full: the company failed to prove that it had incurred any of the expenses claimed.
In RALC Consulting v HMRC [2019] TC7474 the First Tier Tribunal found that IR35 did not apply to an IT contractor; there was no mutuality of obligation, or real control.
In Spring Capital Ltd v HMRC [2019] TC7471 the First Tier Tribunal (FTT) dismissed a claim for the carry forward of corporation tax losses on the transfer of a trade; liabilities not transferred exceeded the corresponding level of assets.
HMRC have published their Employer Bulletin for December 2019. We summarise the key content for you, with links to our detailed guidance on the topics covered.
In Cornelia Simpson v HMRC [2019] TC7576, the First Tier Tribunal (FTT) found that the failure to report a capital gain on the disposal of a London flat resulted in a £14k penalty. A claim for Private Residence relief was dismissed by the FTT. The taxpayer failed to provide any evidence to show that she had ever occupied the property.
Staff Christmas parties: how to claim tax relief on your Office Christmas Party. Must all staff attend? Is there tax relief for an owner manager or personal service company owner? Are there any reliefs? How do you avoid a hangover?
This is part of our Tax & Accounting at Christmas Special, as we analyse the tax and accounting treatments of Christmas and count down each working day until the Christmas holidays in the UK.
Hello
HMRC have just updated their Check Employment Status for Tax tool (CEST). They seem to be quite tight lipped about the exact nature of the changes. Is that unhelpful or just careless?
HMRC has recently updated its Check Employment Status for Tax (CEST) tool although it seems unwilling to provide a concise list of the changes. Instead, it merely tells us that on 25 November 2019, the CEST tool "has been updated so if you do not know the worker, the tool will not ask questions about their circumstances".
In Foojit Ltd v HMRC [2019] TC7467, the First Tier Tribunal dismissed a claim for EIS relief on shares with preferential dividend rights. Someone had to decide when the dividends would be paid and this made them excluded shares for the relief.