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SME Tax News

A share loss claim that sank

Last Updated: 15 April 2026

In Simon Widers v HMRC [2026] TC09836, the First Tier Tribunal (FTT) found that claimed share loss relief arising from an investment in a marine salvage venture was not allowable because the expenditure was not incurred wholly and exclusively for the acquisition of the shares, and in any event, one of the main purposes of the arrangements was to secure a tax advantage. 

Sunken_ship_bow_marine_salvage

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Welsh Tax Acts legislative proposals consultation outcome

Last Updated: 15 April 2026

The Welsh Revenue Authority (WRA) has published the outcome of its consultation 'Legislative Proposals Relating to the Welsh Tax Acts'. While there was general support for the proposals made, it will be for the next Welsh government to decide whether to take them forward.

Welsh flag

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New tool for loans to participators and other updates

Last Updated: 14 April 2026

A new loans to participators tool has been published that allows companies, participators and their agents to confirm to HMRC that a participator has fully repaid a loan declared on a company's tax return. HMRC have also advised that the Corporation Tax online service will not be updated to reflect the increased s.455 tax rates until 6 April 2027.

HMRC sign

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Ross Martin Tax: SME Tax Update 9 April 2026

Last Updated: 09 April 2026

Hello,

The taxation of stablecoins, online filing exclusions for 2025-26, tax relief for intangible asset amortisation and reasonable care when considering compliance with the Construction Industry Scheme (CIS) are among this week’s topical issues. 

SME tax news 15

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CoA denies amortisation deduction on intangible assets

Last Updated: 08 April 2026

In Muller UK and Ireland Group LLP & Ors v HMRC [2026] EWCA Civ 248, the Court of Appeal (CoA) found that the related party restriction on claiming deductions for intangible assets applied to the Limited Liability Partnership (LLP) and its corporate members. As a result, the taxpayer's amortisation deductions were denied tax relief.

Yogurt

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Call for evidence on tax treatment of stablecoins

Last Updated: 09 April 2026

HMRC has published a call for evidence on the 'Taxation of stablecoins', a type of cryptoasset. It seeks opinions on issues around the tax treatment of stablecoins for both individuals and companies. 

Cryptoassets

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Reasonable care not taken to comply with CIS

Last Updated: 08 April 2026

In Kalinga Holdings Limited v HMRC [2026] TC09812, the First Tier Tribunal (FTT) found that a company that purchased an old office building to convert into residential flats was liable to make deductions under the Construction Industry Scheme (CIS) and it had not taken reasonable care to comply with that obligation. 

Construction site

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HMRC win UT appeal on 'mixed use' SDLT claim

Last Updated: 15 April 2026

In HMRC v Christopher Brzezicki [2026] UKUT 00125, the Upper Tribunal (UT) allowed an appeal from HMRC, ruling that a property purchase that included a fishing stream and a separate island was residential for Stamp Duty Land Tax (SDLT)  purposes. 

Fly fishing

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Notifying HMRC that MTD income ceased before April 2026

Last Updated: 08 April 2026

HMRC have clarified the best routes to notify them when all of a sole trader or landlord's Making Tax Digital (MTD) relevant income has ceased before April 2026. This can be done via webchat or telephone by the taxpayer or their agent.

Making tax digital

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Ross Martin Tax: SME Tax Update 2 April 2026

Last Updated: 02 April 2026

Hello,

Headlines this week include HMRC’s latest Agent Update, Revenue Scotland’s digital by default proposals, research on attitudes towards e-invoicing amongst SMEs, HMRC’s new sanctionable conduct powers and the latest changes to the Construction Industry Scheme (CIS).

SME tax news 14

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Subcategories

Archived SME tax news Article Count:  336

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