RPC Tax Take
For tax professionals on the move
Tax tribunal criticises HMRC's guidance in Catherine Rawcliffe v HMRC
This case1 is of interest not so much for the underlying legal issue which was determined but rather for the unusually strong criticism from the First-tier Tribunal ('FTT') of HMRC's published guidance on approved company securities option plans.
The taxpayer, who was employed by ACI Ltd, wa...
Goldman Sachs – the plot thickens!
Retired but not gone away
Readers of our blog will be familiar with the controversy surrounding the now retired Dave Hartnett, former Permanent Secretary for Tax at HMRC (see postings of 19 December 2011 and 21 December 2011). Readers will recall that the Public Accounts Committee ('PAC') issued a ...
Termination payments: don't forget the breakdown
In an encouraging win for taxpayers, the First-tier Tribunal ('FTT') in Johnson v HMRC1 allowed an appeal relating to a termination payment under a compromise agreement. It did so notwithstanding its decision in Reid v HMRC2, a case with similar facts (indeed even involving another director of the s...
Tribunal allows VAT appeal and accepts that letter was sent to HMRC
The First-tier Tribunal ('FTT') has allowed the taxpayer's appeal in Exeter Estates Ltd v HMRC1 against a decision of HMRC that it had opted to tax all the land and buildings on one of its sites.
In 2007, the taxpayer purchased a site consisting of land and buildings (the 'Site'). On 18 ...
Tribunal rejects purposive interpretation and allows taxpayer's appeal
The First-tier Tribunal ('FTT') has held in Fidex Ltd v HMRC,1 that a loan relationship debit should not be disallowed under paragraph 13, Schedule 9, Finance Act 1996 ('Paragraph 13'),2 even though one of the main purposes of entering into the arrangement was tax avoidance.
SDLT mitigation arrangement fails before the Tax Tribunal
The First-tier Tribunal ('FTT') has dismissed the taxpayer's appeal in Edward Allchin v HMRC. Mr Allchin utilised a stamp duty land tax ('SDLT') mitigation arrangement which was intended to engage section 45 Finance Act 2003, and thereby provide sub-sale relief. HMRC did not accept that the ar...
About this blog
Albert Einstein once remarked, on trying to complete his tax return: "This is too difficult for a mathematician. It takes a philosopher!". As tax practitioners are only too well aware, tax legislation continues to increase in length and complexity with the passing of each Finance Act. There is also a steady stream of new case law. Our hope is that, against this background, RPC Tax Take will be a useful source of current information and comment to busy practitioners. It features regular postings on the latest news and developments in UK tax law, together with a number of practical Practice Notes written by specialist lawyers at RPC.
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