In Richard Hurst v HMRC [2014] TC0403 a taxpayer successfully claimed that he was a "disguised" employee in order to claim CGT Entrepreneurs' Relief. His claim to be a de facto director failed.
SME Tax News
Two cases on Capital Gains Tax Private Residence Relief (PRR): one where the timely use of a main residence election would have saved the day, and the other where a property did not qualify as a "residence".
In Exec of Mr Jeffrey Leadley v HMRC TC04007 the tribunal examined who could make negligible value claims in respect of share losses on death.
Hello
This time we have a new guide on Employee (share) Ownership Trusts; these may be an interesting idea for some client companies and also an alternative mechanism for succession planning.
Silly VAT facts: Snowballs are cakes, Flapjacks are cakes, Morrison's Blue Berry Muffin, Banana Bread, Ginger Bread and Lemon Drizzle Nak'd bars are confectionary, and not cakes.
HMRC's RTI reporting for PAYE appears to have massive teething problems according to a leaked document. Millions of taxpayers on PAYE have had their taxes calculated incorrectly by HMRC for 2013/14.
Hello
This time: HMRC is consulting a new quarterly reporting requirement for agencies in its efforts to clamp down on "false self-employment". With this comes yet another harsh penalty regime with fines of up to £3,000 for failing to retain records. This all follows HMRC's changes to the agency rules back in April.
In Richard Anthony Moxton v. Litchfield & Ors [2013] the court confirmed a company's bad leaver provisions and constitution when there were conflicts in drafting between the Shareholders' Agreement and Articles of Association and questions as to the legal enforceability of other agreements which might also affect the Articles.