In Geoffrey Hawarth, Ian Lenagan and SG Kleinwort Hambros Trust Company Ltd v HMRC [2025] EWCA Civ 822, the Court of Appeal (CoA) found that a trust's 'place of effective management' was located in the UK where general management of the trust was undertaken, and not in the overseas jurisdiction where the trustees had been appointed.
In a written statement to Parliament, James Murray, Exchequer Secretary to the Treasury, has announced that 'Legislation Day' (L-Day) will be on Monday, 21 July 2025.
Hello,
Transactions in Securities, Entrepreneurs' Relief (now Business Asset Disposal Relief) and disguised remuneration are among the hot topics in the courts and tribunals this week. We also examine several other current issues, including beneficial loans, as well as the reformed Overseas Workday Relief rules.
In Andrew & Charlotte Moffat v HMRC [2025] TC09546, the First Tier Tribunal (FTT) found that a disposal of shares in the holding company of a group did not qualify for Entrepreneurs' Relief (ER) due to the level of the group's non-trading activities. The taxpayers had taken reasonable care, however, meaning that HMRC's penalties were quashed.
In Amarjeet and Tajinder Mudan v HMRC [2025] EWCA Civ 799, the Court of Appeal (CoA) agreed with an earlier Upper Tribunal (UT) decision that, despite a property being dilapidated and vandalised at the time of purchase, it remained 'residential' for Stamp Duty Land Tax (SDLT).
HMRC have regularly updated ‘List 3’, its list of approved professional organisations and learned societies. Several new organisations have been added over the last six months.
In Stephen White, Gary Laws & Others v HMRC [2025] EWHC 1600, the High Court (HC) found that HMRC were right to exercise 'the 7A power', removing the requirement for the 'end user' in a disguised remuneration scheme to comply with PAYE Regulations.
In Hugh Edward Mark Osmond & Anor v HMRC [2025] UKUT 00183, the Upper Tribunal (UT) found that the First Tier Tribunal (FTT) made an error in law. A main purpose of crystallising Enterprise Investment Scheme (EIS) relief was not automatically, as a matter of law, the obtaining of an Income Tax advantage, even though this may have been its effect.
Missed our SME Tax Updates in June? Here is a summary of the month.
Hello,
There’s a lot to catch up on this week, with a new Agent Update, Employer Bulletin, two Revenue & Customs Briefs, estimated tax gap figures for 2023-24, and much more, including several decisions from the tax tribunals.
