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
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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.
Nichola's SME tax W-update 29 March 2019
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On the day that was supposed to be Brexit: we count down on the last chance to plan for old contractor/EBT loans, we look at tax and the family, we consider lots of deadlines, a bit of R & D and there is more news on Making VAT Digital.
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