In Praesto Consulting UK Limited v HMRC [2019] EWCA Civ 353 the Court of Appeal allowed an input VAT claim in respect of legal fees invoiced to the director and not to the company.
HMRC increase AML fees from 1 May 2019
From 1 May 2019 HMRC are increasing their fees for money laundering supervision. If your business turnover is less than £5,000 you can apply for a ‘small business’ reduction.
Indemnity was not a guarantee
In Ron Dennis v HMRC [2018] TC 6868, an indemnity clause in a shareholder’s agreement was held by the First Tier Tribunal not to be a guarantee that qualified for Loans to Trader Capital Gains Tax (CGT) relief.
Nichola's SME Tax W-update 12 April 2019
Hello
This week's web-update features some cases that continue to explore the dark world of ITEPA 2003 and the PAYE regulations. There is a new consultation on Private Residence Relief and an new VAT guide that might be more handy than you realise.
Consultation: Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs
HMRC has published a consultation, 'Capital Gains Tax: Private Residence Relief: changes to the ancillary reliefs'. This follows the Budget 2018 announcements.
Revenue & Customs Brief 2 (2019) Import VAT deducted as input tax by non-owners
HMRC has published Revenue and Customs Brief 2 (2019): VAT – import VAT deducted as input tax by non-owners. This explains correct treatment for the deduction of import VAT paid by a taxable person who is not the owner of the relevant goods. Earlier guidance was unclear.
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