HMRC have successfully appealed the 2012 decision of the First Tier Tribunal (FTT) that would have allowed F1 racing team McLaren tax relief on a £32 million fine imposed for cheating.
HMRC have successfully appealed the 2012 decision of the First Tier Tribunal (FTT) that would have allowed F1 racing team McLaren tax relief on a £32 million fine imposed for cheating.
In 2014, HMRC's personal tax contentious issues panel conceded that in certain cases it will allow taxpayers' claims for Mansworth v Jelley loss relief. This will bring to an end many long-running disputes over share losses
HMRC's definition of 'reasonable excuse' makes for a waste of time and resources: it is "too narrow" according to First Tier Tribunal Judge Ann Redston. As a result cases come to the Tribunal when they could be resolved by HMRC.
HMRC has been sending out around 1,000 'nudge' letters to individuals paying tax at a lower-than-expected effective tax rates. This is a trial and not publicised campaign.
The government department, Business Innovation & Skills (BIS) has published a response to a consultation document relating to greater transparency and trust in UK business and included a proposal to prohibit corporate membership of LLPs.
The case of Graham Michael Wildin v HMRC [2014] TC03586, involved a dispute on the correct method for valuing goodwill in an accountancy practice. HMRC favoured an assets-basis and the accountant, the appellant, a multiple of Gross Recurring Fees (GRF).
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