In X-Wind Power Limited v HMRC [2017] UKUT 0290, the Upper Tribunal (UT) considered whether relief under the Seed Enterprise Investment Scheme (SEIS) was blocked because the company filed an Enterprise Investment Scheme (EIS) (rather than SEIS) compliance statement in error. It was.
SME Tax News
In R (Hely-Hutchinson) v HMRC [2017] EWCA Civ 1075 the Court of Appeal found in favour of HMRC: the taxpayer did not have a legitimate expectation that his Mansworth v Jelley loss relief claims would be allowed on the basis of incorrect HMRC guidance.
In Development Securities (No 9) Ltd & others v HMRC [2017] TC06007 a Jersey company was held to be UK resident: it undertook transactions (part of a capital loss scheme) that were engineered by its UK parent.
If you use Microsoft Word’s highlighter to redact documents, you need to read this.
In Pradipkumar Hindocha v HMRC [2017] TC05838, the taxpayer's ongoing illness provided a reasonable excuse for an inability to file a tax return on time.
In D Lyth v HMRC [2017] TC05994 the First Tier Tribunal (FTT) held that failure to declare a capital gain on the taxpayer’s Return was careless rather than deliberate.
In Nahajec v Fowle [2017] EW Misc 11 (CC), an estranged child successfully claimed £30,000 from her father’s estate despite his letter of wishes explicitly disinheriting all of his children.
In Anne Christine Curtis Green v HMRC [2015] TC04519 the letting of five self-contained holiday units did not qualify for IHT Business Property relief: the business was mainly one of investment.
In Executors of The Estate Of Marjorie Ross (Deceased) v HMRC [2017] TC05959 the letting of eight holiday cottages did not qualify for IHT Business Property relief: it was mainly an investment activity.
HMRC has launched a help forum and webchat service: the 'Small Business Online Forum' is aimed at small business.