Saffery

A new court judgment suggests that HMRC will succeed in rejecting claims for business property relief (BPR) on holiday let businesses, Edinburgh-based Saffrey Champness LLP has said. The case, Executors of the Late Sheriff Graham Loudon Cox vs HMRC, concerned the executors’ claim for BPR regar

Saffery Champness is advising its rural clients on the latest position regarding the various support schemes in place for those businesses and the self-employed adversely affected by the coronavirus outbreak, including impending closure of certain schemes. The second round of support under the Self-

HMRC has recently updated its Making Tax Digital (MTD) guidance to reflect that, from 1 April 2022, all businesses registered for VAT in the UK will need to comply with MTD and file their VAT returns through functionally compatible software that links to HMRC’s API platform, according to chart

The VAT team at Saffery Champness has produced responses to a series of FAQs that will help many businesses get it right when it comes to adjusting to the VAT changes announced by chancellor Rishi Sunak in his recent summer statement. In that statement, the chancellor announced a temporary reduction

Following the reopening of construction sites in Scotland, Sean McGinness believes the picture should start to become clearer for rural landowners who are in discussions with housebuilders and developers regarding potential new developments and land sales. Many individuals will have spent time durin

Saffery Champness is reminding rural businesses that the VAT payment holiday, which ran from March 21 because of the COVID-19 crisis, ends on June 30. No further extension to the scheme, which has allowed VAT payments to be deferred until March 31, is expected.However, it is expected that there will

HMRC has kept its promise to adopt a light-touch approach on the imposition of fines for businesses who have failed to file on time with the shift to the new Making Tax Digital (MTD) system for VAT, according to Saffery Champness LLP. HMRC had not issued any fines for the 120,000 businesse

Susie Swift The First Tier Tax Tribunal recently determined in the case of Vigne vs HMRC that the estate of the late Maureen Vigne was entitled to Inheritance Tax Business Property Relief that had been disputed by HMRC. The Tribunal found however that Agricultural Property Relief was not available i