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.
Nichola's SME tax W-update 31 October 2019
Hello
This week, a case on trade tariffs; even more crazy than ‘VAT on milk shakes’ it transpires that the final tariff tie-breaker uses a process not unlike 'paper, scissors, stone'.
Trust gets 5 years interest free credit on CGT charges
In Trustees of the Panayi A&M Trusts Nos 1-4 v HMRC [2019] TC7406 the First Tier Tribunal interpreted UK law to conform with EU law and allowed Capital Gains Tax exit charges on the migration of a trust to be paid over a five year period.
BBC presenter loses second IR35 appeal
In Christa Ackroyd Media v HMRC UKUT0326 the Upper Tribunal dismissed a TV presenters appeal against IR35 applying to her personal service company; the BBC did exercise sufficient control over her work for an employment relationship to exist.
HM Treasury initiatives support female entrepreneurs
HM Treasury has launched an 'Investing in Women' code to promote female entrepreneurship among organisations that offer finance. The code follows the launch of a 'Women In Finance Charter', already supported by over 330 firms.
Nichola's SME Tax W-update 24 October 2019
Hello
We have quite a lot to say this week. HMRC's latest Agent Update is horribly long but it duplicates much in the earlier Employer Update. We have weeded out the highlights for you.
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