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This is a Practical Tax Database that is designed to act as your online tax partner. It can assist in answering your tax FAQs, and is packed full of useful and practical tax and business guidance.
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Indemnity was not a guarantee
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 qualifies 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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