In Anthony and Tracy Lee Hancock v HMRC [2017] EWCA Civ 198 the Court of Appeal found that the conversion of QCBs and a non-QCBs into a single new QCB should be treated as two separate conversions: tax was due on redemption.
SME Tax News
In New Way Cleaning Ltd v HMRC [2017] UKFTT TC5769 the First-Tier Tribunal (FTT) considered what statutory documentation is reasonably required under a Schedule 36 Notice relating to PAYE.
The Welsh Land Transaction Tax (LTT) received Royal Assent on 24 May 2017.
The Ministry of Justice is beta testing a new online tax appeals service and it is looking for taxpayers and representatives to test it.
In The Brain Disorders Research Limited Partnership & Neil Hockin v HMRC [2017] UKUT 0176 the Upper Tribunal (UT) found that a tax avoidance scheme was a sham and the partnership involved was not trading.
In R&J Birkett T/A The Orchards Residential Home & Others v HMRC [2017] UK UT 0089 the Upper Tribunal upheld daily penalties for failure to comply with information notices where initial fixed penalties were under appeal.
In F Anstock v HMRC [2017] TC05784 HMRC issued the taxpayer with an Information Notice that was so poorly drafted that the FTT declared it invalid and so quashed penalties relating to the notice.
In Sir Keith Mills, Team Origin LLP v HMRC [2017] TC05844 the First Tier Tribunal (FTT) disallowed sideways loss relief for a LLP formed to compete in the prestigious America’s Cup yacht race: there was little hope of any realisation of profits.
In Lee & Bunter vs Commissioners for HMRC [2017] TC05757, the First Tier tribunal (FTT) found that a tax scheme which aimed to avoid capital gains tax (CGT) for an offshore trust by taking advantage of the double tax treaties failed: the trust was effectively managed in the UK and so resident here.
HMRC have released new and updated guidance for those who use HMRC as their supervisory body under the Money Laundering Regulations.