HMRC can clock up another victory in tax avoidance litigation. The Court of Appeal has dismissed an appeal by the Eclipse Film Partners No 35 LLP (Eclipse 35), upholding the earlier findings of the FTT, that it was not carrying on a trade.
IHT returns penalties for careless and deliberate errors
In Hutchings v HMRC [2015] TC04421, the main beneficiary of a deceased taxpayer received a tax penalty for failing to disclose for Inheritance Tax purposes a gift made from his dead parent’s undisclosed Swiss bank account. This is the first case under this legislation.
Company car online updater
HMRC have launched a new trial online facility that allows employees to update their own company car details.
Where is HMRC's What's New?
This is a freeview 'At a glance' guide to locating HMRC's 'What's New' page.
How to reclaim s.455 tax paid on loans to participators
How do I reclaim s.455 tax on loans to participators? Which form do I use? Where can I find the link?
Lawfully voted dividends incapable of being reclassified as earnings
In Richard and Julie Jones v HMRC [2014] TC04171, the First Tier Tribunal (FTT) decided that interim dividends, once lawfully declared, could not be reclassified as remuneration subject to Pay As You Earn (PAYE) prior to the insolvent liquidation of a company.
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