In CooperVision Lens Care Limited v HMRC [2026] TC09808, the First Tier Tribunal (FTT) found that sums received on the sale of shares were taxable as employment income as the shares fell within the Employment-Related Securities regime.
SME Tax News
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We have a varied update for you this week. We delve into Stamp Duty Land Tax in the context of a towpath beside a dwelling, the meaning of ‘deliberate’ behaviour, pre-registration input VAT and its interaction with the partial exemption rules, the future of Income Tax devolution in Wales and much more.
The first company to be listed on the new PISCES market for private companies has been announced as QPlay, a board game maker. JP Jenkins pipped the London Stock Exchange (LSE) to list the first company under the new scheme aimed at boosting the UK's capital markets.
The Welsh government has published 'Future options for Income Tax devolution in Wales'. The independent report, commissioned by the government, compares keeping the current partially devolved system with moving to full devolution. The authors conclude that while full devolution would provide greater control, it would also carry greater financial risk.
In Alan Wood & Anor v HMRC [2026] TC09791, the First Tier Tribunal (FTT) found that the lower mixed-use rates of Stamp Duty Land Tax (SDLT) applied to the purchase of a riverside property with a public towpath running alongside it. The towpath did not form part of the grounds of the house, meaning the acquisition did not consist entirely of residential property.
In Anthony Outram & Ross Outram v HMRC [2026] TC09784, the First Tier Tribunal (FTT) found that two taxpayers who had participated in an ineffective tax avoidance scheme had not deliberately brought about a loss of tax as they believed their tax returns were correct. This meant that the extended period for HMRC to raise a discovery assessment did not apply.
HMRC have launched a consultation on ‘Modernising the agency work regulatory framework’. Proposals include simplifying, modernising, and clarifying the Conduct of Employment Agencies and Employment Business Regulations 2003 and examining aspects of the Agency Workers Regulations 2010.
The government has launched a new campaign to assist people with their everyday tax affairs. It is designed to build knowledge in areas such as tax basics, working life, small businesses and retirement. This comes in the same week as the first 'Tax Awareness Week', which is led by the Association of Taxation Technicians (ATT) and the Chartered Institute of Taxation (CIOT).
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In Tuesday’s Spring Forecast, the Chancellor kept her promise of making no major tax or spending policy announcements, in line with the government’s commitment to hold only one significant fiscal event a year, at the Budget.
HMRC have released Employment-Related Securities (ERS) Bulletin 64, which contains details of changes to the Enterprise Management Incentives (EMI) scheme thresholds, end-of-year reporting requirements and the mandatory tax adviser registration.
