Here is a summary of the top topical stories on tax avoidance that have hit the headlines, all from the viewpoint of an SME tax adviser.
Eclipse 35 film scheme: victory for HMRC
HMRC can clock up another victory in tax avoidance litigation. The Court of Appeal has dismissed an appeal by the Eclipse Film Partners No 35 LLP (Eclipse 35), upholding the earlier findings of the FTT, that it was not carrying on a trade.
IHT returns penalties for careless and deliberate errors
In Hutchings v HMRC [2015] TC04421, the main beneficiary of a deceased taxpayer received a tax penalty for failing to disclose for Inheritance Tax purposes a gift made from his dead parent’s undisclosed Swiss bank account. This is the first case under this legislation.
Company car online updater
HMRC have launched a new trial online facility that allows employees to update their own company car details.
Where is HMRC's What's New?
This is a freeview 'At a glance' guide to locating HMRC's 'What's New' page.
How to reclaim s.455 tax paid on loans to participators
How do I reclaim s.455 tax on loans to participators? Which form do I use? Where can I find the link?
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