In Development Securities (No 9) Ltd & others v HMRC [2017] TC06007 a Jersey company was held to be UK resident: it undertook transactions (part of a capital loss scheme) that were engineered by its UK parent.
SME Tax News
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This time we feature another IHT Business Property relief case. Although only a FTT decision, this one features an interest in a partnership that ran multiple holiday cottages, and certainly builds on previous decisions in this area.
If you use Microsoft Word’s highlighter to redact documents, you need to read this.
In Pradipkumar Hindocha v HMRC [2017] TC05838, the taxpayer's ongoing illness provided a reasonable excuse for an inability to file a tax return on time.
In D Lyth v HMRC [2017] TC05994 the First Tier Tribunal (FTT) held that failure to declare a capital gain on the taxpayer’s Return was careless rather than deliberate.
In Anne Christine Curtis Green v HMRC [2015] TC04519 the letting of five self-contained holiday units did not qualify for IHT Business Property relief: the business was mainly one of investment.
HMRC has launched a help forum and webchat service: the 'Small Business Online Forum' is aimed at small business.
In Executors of The Estate Of Marjorie Ross (Deceased) v HMRC [2017] TC05959 the letting of eight holiday cottages did not qualify for IHT Business Property relief: it was mainly an investment activity.