In James Fera v HMRC [2023] TC08986, the First Tier Tribunal (FTT) found that High-Income Child Benefit Charge (HICBC) discovery assessments raised by HMRC were retrospectively protected under Finance Act 2022. The assessments were not valid and the appeal was allowed.
SME Tax News
In Mark Alan Smith & Robert Andrew Corbett v HMRC [2023] TC8977, the First Tier Tribunal (FTT) found that a company did not own the goodwill associated with the business it carried on. HMRC's Income Tax assessment on the purported distribution of the goodwill, by the company, failed. The goodwill was not the company's asset to distribute.
The UK, along with 48 other countries, have agreed to the 'Crypto-Asset Reporting Framework' to help combat criminals using cryptoassets to evade and avoid billions in missing tax.
Hello,
It has been another quiet week from a tax perspective. Tuesday saw the State Opening of Parliament in which the King’s Speech outlined the government’s intent to reduce inflation, ease the cost of living, and assist businesses to fund new jobs and investments. There was little mention of tax measures.
The Chancellor announced the following measures on employment taxes in his 2023 Autumn Statement.
The Chancellor announced the following measures on large corporates in his 2023 Autumn Statement.
The Chancellor announced the following measures on Corporation Tax in his 2023 Autumn Statement.
The Chancellor announced the following measures on VAT in his 2023 Autumn Statement.