In Centrica Overseas Holdings Limited v HMRC [2024] UKSC 25, the Supreme Court (SC) confirmed that professional fees incurred in relation to the disposal of a subsidiary were management expenses. However, the SC agreed with the Court of Appeal (CoA) that these expenses were capital in nature and should therefore be disallowed.
HMRC have issued the latest round of one-to-many letters, focusing on Construction Industry Scheme Insurance Sector Registrations.
Hello,
Now that the election period has concluded, we wait to see what changes in the tax world will be announced.
HMRC have published their Employer Bulletin for July 2024. We have summarised the key content for you, with links to our detailed guidance on the topics covered.
In Martin Laker v HMRC [2024] TC09224, the First Tier Tribunal (FTT) found that for pensions Fixed Protection 2012 purposes, a ‘year’ was not 12 consecutive months.
On 31 July 2024, second payments on account of 2023-24 Income Tax and Class 4 National Insurance liabilities fall due. This year, there’s potentially more to consider than usual.
Subcontractors operating under the Construction Industry Scheme (CIS) will no longer be able to request payment deduction statements from HMRC's CIS helpline. From 1 July 2024, the request must be made by post.
HMRC have recently released several sets of statistics. We summarise some of the key points relating to non-doms, company cars and employee share schemes.
In Roger William Morgan & Anor v HMRC [2024] TC09221, the First Tier Tribunal (FTT) found that the beneficial ownership of land was transferred to a development company under a constructive trust, a year before legal ownership changed.
Missed our SME Tax Web-updates in June? Here is a summary of the month.