Hello
This time we have a bit of a mix for you. We are introducing the first of a set of new guides on different trade, professions and vocations. Today, we have the formal launch of our Disguised Remuneration Zone and updated guides for companies and their owners. Plus our pick of topical SME case law.
The Treasury Committee has launched a call for evidence in respect of four areas: VAT and the tax gap, VAT and Brexit, VAT and business and VAT and good tax policy.
Rajesh Gill v HMRC [2017] TC06477 the FTT decided that share dealing could be a commercial trade in respect of side-ways loss relief, it also considered a procedural point: could HMRC 'ambush' the tribunal with late evidence? The answer that was expensive for HMRC.
The Treasury Sub-Committee has recently opened an inquiry into the conduct of tax enquiries and the resolution of tax disputes.
An inquiry has been launched by the Treasury Sub-Committee into the progress made by HMRC in recent years in dealing with tax avoidance and evasion.
British Overseas Territories may be required to establish public registers of beneficial ownership in 2020. A new clause was added to the new Sanctions and Anti-Money Laundering Bill with cross-party support and was accepted by the Government and was added to the Bill without a vote.
Hello
Welcome to our bumper bank holiday weekend edition. We have a Private Client update which covers all the changes since 6 April with links to topical cases that cover just about everything that you have never thought about in tax.
In James Robertson v HMRC 2017 [TC6410], HMRC was unable assess penalties for failure to notify a High-Income Child Benefit Charge: the legislation does not contain the correct mechanisms to allow HMRC to make an out of time assessment (discovery) for something that is not 'income'.
A round-up for subscribers of the latest developments in tax for private clients, covering Income Tax, Capital Gains Tax (CGT), and Inheritance Tax (IHT).
In Hunters Property PLC v HMRC [2018] TC06354 shares issued failed to qualify for EIS as the company controlled a company limited by guarantee, it was a subsidiary but the lack of share capital meant it was non-qualifying under the EIS rules.