In Eynsham Cricket Club v HMRC [2019] UKUT 0286, the Upper Tribunal (UT) found that although it was registered as a Community Amateur Sports Club (CASC) it was not a charity and so its sports pavilion could not be zero-rated.
Corporation tax rates won't change
The prime minister has announced to the Confederation of British Industry (CBI) that if re-elected, the Conservative Party will back down from its pre-election pledge to reduce corporation tax. This means that the 19% rate is likely to remain for 2020.
Nichola's SME Tax W-update 14 November 2019
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We are celebrating the lack of a budget (the budget being postponed until after the general election) by revisiting some of our most popular guides including company cars, vans and employee benefits.
Nichola's SME Tax W-update 7 November 2019
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We have updated several key guides for landlords and property owners this time and there are a couple of Private Residence relief (PRR) cases to report which may be of interest to advisers and potential property buyers.
General election delays loan charge review
The Financial Secretary to the Treasury, Jesse Norman, has written to Sir Amyas Morse asking him to send his report on the loan charge review to the new government after the general election.
PRR date of acquisition is completion, not exchange of contracts
In Desmond Higgins v HMRC [2019] EWCA Civ 1860, the Court of Appeal (CoA) has decided that the date of acquisition of an off-plan property for the purpose of Capital Gains Tax (CGT) Private Residence Relief was the date of completion, and not at exchange of contracts.
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