In Jonathan Beacon v HMRC [2018] TC6362 a NHS consultant’s claim for side-ways loss relief on the costs of running his Tuscan Villa as a business were allowed by the FTT. Whilst HMRC tried to argue that there was no business, it was shown that the letting business did operate commerically, it had just been badly affected by the 2008 financial crisis
SME Tax News
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The Chancellor kept to his word this week and did not turn his Spring Statement into a mini-budget.
HMRC's latest Employment-Related Securities Bulletin contains some handy tips. Here is our enhanced version.
In Conegate Limited v HMRC [2018] TC06340 the FTT denied a claim for capital loss relief: market value should have been applied to the disposal and one of the main purposes for entering into the transaction was to secure a tax advantage.
Following the introduction of tax-free childcare for all from February 2018 the childcare voucher scheme was due to close to new entrants in April 2018; this has now been extended by six months.
HMRC have issued the Agent Update for February/March 2018. We have summarised the key content for you with links to our detailed guidance on the topics covered.
In City Shoes Wholesale Ltd & Ors v HMRC [2018] EWCA Civ 315 the Court of Appeal agreed there was no conspicuous unfairness leading to an abuse of power by HMRC in denying the Liechtenstein Disclosure Facility (LDF) to users of EBT schemes.
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In this web-update we look at HMRC's powers when it comes to issuing third party information notices to accountants, we feature our all new toolkits for non-residents with offshore property, non-UK domiciled taxpayers and much, much more.
Ex parte A Taxpayer v HMRC [2018] TC6330 considered HMRC's options in serving a third party information notice in respect of a PAYE/NIC enquiry on the accountant of a company that had gone into liquidation. The answer was to treat the company director as the taxpayer.
HMRC have confirmed that the current Annual Tax on Enveloped Dwellings (ATED) Relief Declaration Return (RDR) forms will be withdrawn on 31 March 2018.