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Tax Take

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An arresting development

Published on 07 November 2011. By Adam Craggs, Partner

HMRC officers have arrested a tax advisor on the very day that he was due to give evidence before the Tax Tribunal on a capital gains tax issue.

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High Risk Avoidance Schemes – is another new regime really the way forward?

31 October 2011

HMRC's consultation on "High Risk Tax Avoidance Schemes", which closed at the end of August, has attracted some heavyweight responses it seems.

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Gaines-Cooper – the end of the road for the taxpayer

Published on 25 October 2011. By Adam Craggs, Partner

The Supreme Court, by a majority of four to one, has dismissed both appeals in the jointly heard judicial review cases of R (Davies and another) v HMRC; R (Gaines-Cooper) v HMRC [2011] UKSC 47 on 19 October 2011.

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Is the net really closing on Swiss bank accounts?

Published on 21 October 2011. By Daniel Hemming, Senior Associate

HMRC announced last week that they will shortly be writing to UK resident individuals and organisations holding bank accounts with HSBC in Geneva, using information obtained under a tax treaty last year.

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There is no escape - collecting cross border tax

17 October 2011

On 16 March 2010 the EU introduced Council Directive 2010/24/EU which deals with the mutual assistance across EU member states for the recovery of tax claims.

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Personal liability for directors – No escape from the taxman

Published on 07 October 2011. By Adam Craggs, Partner

One of the criticisms that is often made of the UK's complex insolvency legislation is that it is too easy for the directors of a company to put it into liquidation or administration, 'dump' the company's debts and then effectively start the same business again under the guise of a new company.

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Blog

The Taxman vs. the Treasury Select Committee: round 2

Published on 03 October 2011. By Daniel Hemming, Senior Associate

Following his first outing before the House of Commons' Treasury Select Committee in March, and the publication of the Committee's report in July (see my previous post), Dave Hartnett, the Permanent Secretary for Tax, returned on 12 September to answer further questions from MPs.

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Blog

When is a penalty unfair?

Published on 23 September 2011. By Adam Craggs, Partner

A recent tribunal case, Hok Limited v Revenue and Customs Commissioners (TC 1286) has found that HMRC did not act fairly and in good conscience where it had deliberately delayed sending out a penalty for the late filing of an employer's end of year returns until four months after the deadline had expired.

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Blog

HMRC opens its books to mortgage lenders

Published on 16 September 2011. By Daniel Hemming, Senior Associate

Having been first announced in the March 2010 Budget and following a pilot, the mortgage verification scheme, a joint venture between HMRC, the Council of Mortgage Lenders and the Building Societies Association, was finally launched at the start of the month.

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Blog

SFO to request tax records

Published on 12 September 2011. By Daniel Hemming, Senior Associate

The SFO warned last week that companies suspected of paying bribes to win work overseas may be forced to hand over their tax records, in the hope that these may yield evidence of such bribes.

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Blog

Is the tide turning? HMRC lose discovery assessment appeal

Published on 02 September 2011. By Daniel Hemming, Senior Associate

Concern has been building for some time amongst taxpayers and their advisers about HMRC's apparently unfettered use of discovery assessments.

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Too easy? The UK's recent deal with the Swiss banks

Published on 26 August 2011. By Adam Craggs, Partner

The Swiss banking sector contributes 6.7% of the country's gross domestic product, almost 10% of tax revenues and provides the country with 142,000 skilled jobs.

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"Unacceptable" HMRC under fire from Treasury Select Committee

Published on 16 August 2011. By Daniel Hemming, Senior Associate

The House of Commons' Treasury Select Committee (the "Committee") recently released its report entitled "Administration and effectiveness of HM Revenue and Customs" (the "Report").

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Going backwards? Retrospective legislation can bite!

Published on 10 August 2011. By Daniel Hemming, Senior Associate

Retrospective legislation is a particularly hot topic at the moment.

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Blog

Above board, or backroom deals?

04 August 2011

The National Audit Office ('NAO') has recently recommended (see HM Revenue & Customs 2010-11 Accounts) that HMRC should ensure that a clear separation should exist between the negotiation and approval of large tax settlements in order to maintain public confidence in the appropriateness of all such settlements.

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Blog

COP that! HMRC propose a new contractual disclosure facility

Published on 28 July 2011. By Daniel Hemming, Senior Associate

On 20 July 2011, HMRC published a discussion document entitled: Civil Investigation of Fraud – Contractual Disclosure Facility.

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HMRC 'refresh' their litigation and settlement strategy

Published on 21 July 2011. By Adam Craggs, Partner

As tax practitioners will be aware, HMRC's Litigation and Settlement Strategy ('LSS') is the framework within which HMRC seeks to resolve tax disputes through civil procedures.

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New approaches to funding tax litigation

Published on 12 July 2011. By Adam Craggs, Partner

There are times when, however hard an advisor tries, a settlement with HMRC is simply not possible.

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Estate 4 Limited v HMRC – proactivity can achieve results!

Published on 04 July 2011. By Adam Craggs, Partner

We are often asked by advisors to assist them in closing down long-running enquiries by HMRC.

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RPC Practice Notes: guidance for the busy practitioner

Published on 04 July 2011. By Adam Craggs, Partner

In addition to regular updates on the latest tax news and case law developments, RPC Tax Take features Practice Notes written by specialist lawyers at RPC.

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Blog

Partnership residence – a rallying cry!

Published on 29 June 2011. By Daniel Hemming, Senior Associate

An important decision of the First-tier Tribunal has been released in the case of Mark Higgins Rallying (a firm) v. Revenue & Customs [2011] UK FTT 340 (TC).

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HMRC steps up the pace with new taskforces

Published on 08 June 2011. By Adam Craggs, Partner

We have already had the offshore disclosure facility, the new disclosure opportunity, the Liechtenstein disclosure facility and the new regime for offshore penalties.

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Christopher Lunn – the saga continues!

Published on 24 May 2011. By Adam Craggs, Partner

Readers may be familiar with the ongoing saga of Christopher Lunn & Co and HMRC.

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The Tribunal considers the meaning of 'power' over documents

13 May 2011

An interesting case has just been heard by the First-tier Tribunal ('FTT'). The FTT held that a taxpayer had documents in its 'power', for the purposes of Section 20 Taxes Management Act 1970 (now repealed), despite not holding them or having a legally enforceable right to them.

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Blog

UK close to Swiss tax deal

13 May 2011

There has been much comment and speculation in the media recently on the landmark tax agreement between the UK and Switzerland which is close to signing (finalisation of the agreement is expected before the end of June 2011).

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Blog

Supreme Court decision in Tower MCashback

Published on 13 May 2011. By Daniel Hemming, Senior Associate

The Supreme Court's eagerly awaited decision in Tower MCashback has now been released (the importance of the case is reflected in the fact that it was considered by seven Supreme Court Justices).

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Blog

Receipt of shares not emolument from employment

Published on 20 April 2011. By Adam Craggs, Partner

The First-tier Tribunal has decided that a transfer of shares to an employee was not an emolument from the individuals' employment for the purposes of section 19 ICTA 1988 because the office or employment was not the "active cause" of the transfer.

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Blog

New light on the Ramsay doctrine

Published on 20 April 2011. By Adam Craggs, Partner

In HMRC v Mayes [2011] EWCA Civ 407,the Court of Appeal was asked to decide whether a taxpayer was entitled to corresponding deficiency relief and/or capital gains tax loss relief under a tax avoidance structure known as "Ships 2".

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OTS publishes final report on review of tax reliefs

Published on 15 April 2011. By Adam Craggs, Partner

On 3 March 2011, the Office of Tax Simplification (OTS) published its final report on its tax reliefs review.

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Tribunal finds for taxpayer in SDLT sub-sale partnership avoidance case

Published on 15 April 2011. By Adam Craggs, Partner

The First-tier Tribunal ('FTT') has ruled in favour of the taxpayer in relation to an SDLT avoidance arrangement that relied on the transfer of rights provisions in section 45 of the Finance Act 2003 and the partnership provisions in paragraph 10 of Schedule 15 to the Finance Act 2003 - DVS3 RS Ltd v HMRC [2011] UKFTT 138.

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Court of Appeal rules no UK relief for US tax paid by parent of tick-the-box company

Published on 15 April 2011. By Adam Craggs, Partner

The Court of Appeal has upheld HMRC's appeal in Bayfine against the decision of the High Court concerning the availability of treaty relief or unilateral relief in the UK – Bayfine v HMRC [2011] EWCA Civ 304.

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Berry gilt strips tax avoidance arrangement fails on appeal to the Upper Tribunal

Published on 15 April 2011. By Adam Craggs, Partner

The Upper Tribunal (Lewison J) ('UT') has dismissed the taxpayer's appeal against the First-tier Tribunal's ('FTT') decision that he was not entitled to relief for losses suffered as a result of a gilt strip tax planning arrangement – Berry v HMRC [2011] UKUT 81.

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A victory for the taxpayer and common sense!

20 February 0212

There has been a lot of discussion and consultation recently about the possible introduction of a General Anti-Avoidance Rule ('GAAR') in the UK, but of course several parts of the tax code already contain their own anti-avoidance provisions.

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