Hello
We were off last week due to the Accountex Exhibition. It was exhausting, but on the other hand great to meet so many people, and thank you for your excellent feedback.
Hello
We were off last week due to the Accountex Exhibition. It was exhausting, but on the other hand great to meet so many people, and thank you for your excellent feedback.
In Sir Keith Mills, Team Origin LLP v HMRC [2017] TC05844 the First Tier Tribunal (FTT) disallowed sideways loss relief for a LLP formed to compete in the prestigious America’s Cup yacht race: there was little hope of any realisation of profits.
In Lee & Bunter vs Commissioners for HMRC [2017] TC05757, the First Tier tribunal (FTT) found that a tax scheme which aimed to avoid capital gains tax (CGT) for an offshore trust by taking advantage of the double tax treaties failed: the trust was effectively managed in the UK and so resident here.
HMRC have released new and updated guidance for those who use HMRC as their supervisory body under the Money Laundering Regulations.
HMRC will start to use the data is acquires under Real Time Information (RTI) for PAYE, this May. This will mean that it will be able to revise and issue more accurate PAYE coding notices during the year.
Hello
The Finance Act 2017 has received Royal Assent and now all is quiet due to the pre-election purdah. We do have some news and case write ups for you, together with more updated guides in our database.
In Champneys Tring Limited v HMRC [2017] TC 05685 the First-tier Tribunal (FTT) upheld a PAYE determination on an employer who operated an incorrect tax code.
In John Jackson v HMRC [2017] TC05818 the First-tier Tribunal allowed a late application for enhanced protection: the taxpayer had a reasonable excuse for his latenesss.