Latest by Keziah Mastin
Follower notice penalties cancelled as failure to take 'corrective action' was reasonable in all the circumstances
Allowing an appeal by Mr Andreae, the First-tier Tribunal cancelled penalties HMRC had issued for failure to take corrective action following receipt of follower notices. It was held that this failure was reasonable in all the circumstances where Mr Andreae had relied on the advice of a scheme promotor and later sought further advice from an independent advisor.
Read moreAppeal against discovery assessment allowed as SATR was filed by unauthorised agent
Allowing an appeal by Mr McCumiskey, the First-tier Tribunal held that HMRC's discovery assessment was invalid on the basis that the purported tax-return had been fraudulently filed and had included an unauthorised and unsubstantiated claim for SEIS relief.
Read moreAccounting rules prevail following HMRC loss in the Supreme Court
Dismissing an appeal by HMRC, the Supreme Court in HMRC v NCL Investments Ltd and another [2022] UKSC 9, held that deductions for corporation tax purposes are allowable for grants of employee share options.
Read moreTaxpayer successfully appeals information notices as information requested not reasonably required
Allowing an appeal against HMRC's information notices, the First-tier Tribunal in Yerou and another v HMRC [2022] UKFTT 79 (TC), found that the information was not reasonably required.
Read moreNo tax due on transfer of business to connected company
The First-tier Tribunal in Conran and another v HMRC [2022] UKFTT 39 (TC), concluded that the transfer of a business between connected parties resulted in no capital gains tax liability for the seller, having reduced the stated £8.25m valuation of the business to £1 for tax purposes.
Read moreNo power for HMRC to issue partial closure notice without assessment of tax due
The Court of Appeal has confirmed that HMRC cannot issue a partial closure notice without assessment of tax due.
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