In Viscount Hood, executor of the estate of Lady Diana Hood v HMRC [2016] T04858 an IHT avoidance scheme in granting a reversionary lease failed: the lease was a gift with reservation of benefit (GWR).
SME Tax News
In Julian Nott v HMRC [2015] TC04897 the First Tier Tribunal (FTT) decided that the letting of holiday units was different to operating a B & B or a hotel and so did not amount to a trade for the purposes of NICs or sideways loss relief.
New companies are being duped into paying for an online directory listing by a webservice that displays a coat of arms that is not unlike that of Companies House.
The Ministry of Justice (MoJ) has launched a consultation “Fee proposals for grant of probate”. Its proposes a new banding structure.
The Low Incomes Tax Reform Group (LITRG) has urged the government to delay the proposed changes to self-employed NIC contributions which could be introduced as early as April 2017.
In C Lucy v HMRC [2016] UKFTT TC04878 the First Tier Tribunal (FTT) found that the taxpayer was not conducting any trade and disallowed a claim to set off losses against general income.
Hello
Just a short update this week. My highlights: don't forget to pay remaining SA tax by 1 March and HMRC's Agent update is out.
HMRC have opened a consultation, Simplifying the Gift Aid donor benefits rules, following a call for evidence about how and why charities provide benefits, and the use of the extra statutory concessions and admission disregards.