In Skatteverket v David Hedqvist (C-264/14) [2015], the CJEU has decided that bitcoin exchange services are exempt from VAT.
No (sideways) loss relief for farming
In Peter Silvester v HMRC [2015] TC04682 a farmer was denied sideways loss relief, despite changing his business model. HMRC was entitled to make a discovery assessment on losses, even though losses were reported every year.
BEPS & Diverted Profits Tax (for SME owners)
What is Base Erosion and Profit Shifting? What is the Multilateral Instrument? When did it come into force? What are the Pillar 1 and 2 projects? What is the Undertaxed Profits Rule? What is the Income Inclusion Rule? What is the Domestic Minimum Tax? Will either of these affect me or my SME clients?
Restitution interest to be taxed at 45%
A new clause has been added to the Finance Bill 2015-16. It allows HMRC to deduct a 45% rate of corporation tax on compound interest which has been awarded to a company in respect of a restitution claim.
HMRC scrap business record checks
In a move described by the Chartered Institute of Taxation (CIOT) as a "victory for common sense" HMRC have announced that they are phasing out business records checks (BRCs).
Home office to work travel disallowed again
In David Jones V HMRC [2015] TC04643 a self employed consultant anaesthetist with an established private practice at his home was denied tax relief for travel to two of the hospitals at which he visited for work: the number of his visits made his attendance "regular and predictable". Travel to and from home to other hospitals was allowed.
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