In Desmond Higgins v HMRC [2017] TC 05724 the period of ownership of an off-plan apartment was found to have started for PRR purposes only once the property was complete.
SME Tax News
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This time we feature a couple of closure notice cases that also manage to link to some of our recent updates on domicile, tax relief on interest and partnership tax, as well as some of the more complex anti-avoidance rules.
In Stuart Gulliver v HMRC [2017] TC05712 an application for closure notice in order to block a sch 36 information notice failed. The fact that HMRC had agreed a taxpayer's change of domicile in the past did not mean that they could not revisit the issue in a later year and ask more questions.
In HMRC v Execs of Mr Jeffrey Leadley [2017] UKUT 0111 the Upper Tribunal (UT) overturned the original decision of the First-Tier Tribunal (FTT) and found that Executors were not entitled to make a negligible value claim.
HMRC have published a call for evidence: ‘Taxation of employee expenses call for evidence’ in respect of the use of income tax relief for employee business expenses, including those not reimbursed by employers.
William G Anderson v Revenue Scotland [2016] TTFT 1 and Classical Land and Property Limited v Revenue Scotland [2016] TTFT 2 are the first two decisions of the First-Tier Tax Tribunal for Scotland: both concerning penalties for late filing of Land and Buildings Transaction Tax (LBTT) returns.
If you are about to become deemed UK domiciled under the new rules, applicable from 6 April 2017, consider carrying out some pre-year end tax planning.
The Low Income Tax Reform Group (LITRG) is urging self-employed workers with very low profits to check their National Insurance record and make up any deficiencies before voluntary contributions become more expensive for them after April 2019.
- Nichola's SME Tax w-update 31 March 2017
- Software specification error affects 2016/17 Self Assessment
- Brexit: 'Legislating for the UK’s withdrawal from the EU
- Partnership taxation: consultation response
- Many (unhappy) Returns: to-do list before/after 5 April 2017
- CIS penalties: foreign sub-contractors