In Maersk Oil North Sea UK Limited and Maersk Oil UK Limited v HMRC [2018] TC06295, the First Tier Tax Tribunal (FTT) held that an allocation of profits within a period had simply to be made on a just and reasonable basis: the existence of a better method was not sufficient reason to displace it.
SME Tax News
HMRC have agreed new fraud prevention measures with the tax bodies in order to verify a caller's ID when an HMRC employee contacts a tax agent.
Scottish Income Tax Rates for 2018-19 were announced during the Scottish Budget on 15 December 2017 but have already been increased.
Andrew Griffiths , the Parliamentary Under Secretary of State for Business, Energy and Industrial Strategy (BEIS) has confirmed that the government will establish a public register of beneficial owners of non-UK entities that own or buy UK property, or which participate in UK Government procurement.
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As a change from income tax self assessment, we have various cases and updates on the VAT side for you this week together with analysis of a long awaited Upper Tribunal decision on MSC providers, and we are also looking at year end tax planning.
The Chancellor has written to the Office for Tax Simplification (OTS) requesting they carry out a review into the Inheritance Tax (IHT) regime. This follows HMRCs published report on IHT reliefs.
In Hadee Engineering Co Ltd v HMRC [2017] TC06272, the First Tier Tribunal (FTT) ordered a closure notice issued where the taxpayer had provided all the information available in respect of its claim for Research and Development tax credits.
This is our year-end and new tax year tax checklist and toolkit for individual Private Clients, it can be used in conjunction with our checklists for Directors, Employers and Self-employed individuals.
In Christianuyi Limited & Others v HMRC [2018] UKUT10 the Upper Tribunal agreed that a Managed Service Company (MSC) Provider was ‘involved’ with the taxpayers' personal service companies and was subject to the MSC rules.
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HMRC say that a third of self assessment returns (that is something approaching 3 million returns) are still outstanding this year. Given that there are more self employed people than there have ever been before, and that HMRC also appear to require some taxpayers who do not need to file, to file, I wonder how many are really outstanding.