When do the Managed Service Company rules apply to accountants? What exemption exists? What happens if you are a MSC provider?
MSC: Provider was 'involved'
In Christianuyi Limited & Others v HMRC [2016] TC05045 a Managed Service Company (MSC) Provider was found to be ‘involved’ with the taxpayers' personal service companies. This is the first time the MSC rules have been considered by the Courts since their introduction in 2007.
Tax experts urge people to use their P60s to reclaim tax
The Low Incomes Tax Reform Group (LITRG) is urging people to claim back tax deducted from savings income in past years now that they have received their P60s.
Grazing land qualifies as a business asset
In John Carlisle Allen v HMRC [2016] TC05100, the First Tier Tribunal (FTT) decided that grazing land qualified as a business asset as the taxpayer occupied and farmed the land
Input VAT: importance of a valid invoice
In Gradon Construction Limited v HMRC [2016] TC04935 input tax credits were refused as invoices were not valid for VAT and there was insufficient additional supporting evidence.
CIS: ignorance is bliss?
In Eric Donnithorne v HMRC [2016] TC05017 a liability under the Construction Industry Scheme (CIS) was discharged as it was reasonable that the taxpayer did not realise he had any obligation to make deductions.
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