HMRC are implementing new evidence requirements from 14 October 2024 for standalone claims for employment expenses. HMRC have identified a growing tax risk from ineligible claims.
SME Tax News
In Amarjeet and Tajinder Mudan v HMRC [2024] UT307, the Upper Tribunal rejected a claim that a property was too dilapidated and vandalised to make it suitable for use as a dwelling. Despite its poor condition, it remained 'residential' at the time of purchase for Stamp Duty Land Tax (SDLT).
In HMRC v Peter Gould [2024] UKUT 00285, the Upper Tribunal (UT) found that an interim dividend paid to two shareholders on different dates was taxable in different tax years.
On 4 October 2024, HMRC e-mailed tax agents to request that they provide details of their agent codes for Self Assessment, VAT and Corporation Tax by 8 November 2024. This deadline has now been extended to 6 December 2024.
HMRC's latest one-to-many letter campaigns focus on agents who have submitted provisional returns for clients without subsequent amendment, and Gas Safe Engineers who may need to register for self-assessment.
In the run-up to the 31 October 2024 paper tax return filing deadline, HMRC have announced that printed copies of the tax return from GOV.UK will be accepted.
Hello
The leading tax bodies are mid-way through a pilot on HMRC service standards, but almost pre-empting their conclusions, HMRC has announced that it has already made changes to its agent helplines. Apparently, agents are responsible for clogging up the technical lines so HMRC has created a new option for chasing refunds.
In Putney Power Limited and Piston Heating Services Limited v HMRC [2024] TC09300, the First Tier Tribunal (FTT) denied EIS relief as neither company was found to be ready to trade by the required deadline.
From 7 October 2024 HMRC is introducing changes to its telephone and online service for agents handling Self Assessment (SA) and PAYE queries including a new option for chasing tax repayments.
In Strictly Money Ltd v HMRC [2024] TC09296, SME R&D relief for subcontractor expenditure was denied because the expenditure was not wholly and exclusively incurred for the company’s trade.
