In 2014, HMRC's personal tax contentious issues panel conceded that in certain cases it will allow taxpayers' claims for Mansworth v Jelley loss relief. This will bring to an end many long-running disputes over share losses
In 2014, HMRC's personal tax contentious issues panel conceded that in certain cases it will allow taxpayers' claims for Mansworth v Jelley loss relief. This will bring to an end many long-running disputes over share losses
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This week's tax update is a tax penalty and appeals special. No one in public practice can be surprised to note that late filing and late payment penalty appeals are taking up a substantial amount of the First Tier Tribunal's (FTT) time. They take up a substantial amount of everyone's time.
HMRC's definition of 'reasonable excuse' makes for a waste of time and resources: it is "too narrow" according to First Tier Tribunal Judge Ann Redston. As a result cases come to the Tribunal when they could be resolved by HMRC.
HMRC has been sending out around 1,000 'nudge' letters to individuals paying tax at a lower-than-expected effective tax rates. This is a trial and not publicised campaign.
The government department, Business Innovation & Skills (BIS) has published a response to a consultation document relating to greater transparency and trust in UK business and included a proposal to prohibit corporate membership of LLPs.
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A short Web-update this week, but there is a lot packed into it. Of great interest is the result in the Wildin case. This concerned a capital gains tax dispute over the method of valuing a small accountancy practice.
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