The GAAR Advisory Panel has published an opinion on a number of schemes aiming at extraction of cash/value from a company by its directors/shareholders using Employee Shareholder shares and they conclude that the planning is unreasonable and therefore inconsistent with government tax policy.
Employment Related Securities: What’s New? October 2019
HMRC's latest Employment Related Securities Bulletin contains some handy tips. Here is our enhanced version.
Nichola's SME Tax W-update 4 October 2019
Hello
We have a new guide to company start-ups, a company update and lots more this time.
Were loan fees VAT exempt supplies?
In Newmafruit Farms Ltd v HMRC [2019] TC 7254, the First Tier Tribunal (FTT) decided that a farm could not claim back input tax on professional fees relating to a loan. The fees related to an exempt supply of lending money and not to the farming trade.
IHT: Receipts up, reliefs down but paid by just 5% of estates
Recent figures released by HMRC about Inheritance tax in the UK show an increase in the value of estates and a drop in business and charitable relief claims. This resulted in increases in 2018/19 tax receipts to £5.4billion.
EU state aid: Starbucks succeeds, Fiat fails, Apple awaited
If EU Member States give certain multinational companies tax advantages not available to rivals in other countries, it is seen as harming fair competition in the EU. The state aid rules aim to prevent this whilst allowing Member States to retain exclusive competence in determining their own tax laws.
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