HMRC has published a consultation, ‘Financing growth in innovative firms: allowing Entrepreneurs’ Relief on gains made before dilution’, which looks to protect ER claims for shareholders whose holding is diluted due to fundraising.
SME Tax News
In William Tinkler v HMRC [2018] UKUT 0073 the Upper Tribunal (UT) decided that a copy of notice of an enquiry under section 9A TMA 1970 sent to a tax agent was validly served on a taxpayer.
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This time we have a very handy new guide to Double Tax treaties and completing the Foreign pages of the Self Assessment return.
HMRC have published another consultation related to Patient Capital, 'Financing growth in innovative firms: Enterprise Investment Scheme knowledge-intensive fund'.
HMRC have published a new consultation, ‘Taxation of self-funded work-related training: Consultation on the extension of tax relief for training by employees and the self-employed’.
The government have published a call for evidence, ‘ VAT, Air Passenger Duty and Tourism in Northern Ireland’, which is seeking evidence on the impact of VAT and Air Passenger Duty (APD) on tourism in Northern Ireland.
A note for subscribers.
In Jonathan Beacon v HMRC [2018] TC6362 a NHS consultant’s claim for side-ways loss relief on the costs of running his Tuscan Villa as a business were allowed by the FTT. Whilst HMRC tried to argue that there was no business, it was shown that the letting business did operate commerically, it had just been badly affected by the 2008 financial crisis
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The Chancellor kept to his word this week and did not turn his Spring Statement into a mini-budget.
HMRC's latest Employment-Related Securities Bulletin contains some handy tips. Here is our enhanced version.