Tax Take
Tribunal dismisses HMRC's appeal and confirms notification under DOTAS is only required for the first occasion the scheme is implemented
HMRC lose appeal regarding DOTAS notification dates; UT holds that obligation of promoter to notify tax avoidance arrangements arises only at arrangement and first implementation stages.
Read moreAre you ready for the Economic Crime Levy?
On 28 February 2023, HM Treasury published draft regulations, together with an explanatory memorandum, that revise and make further provision for assessment, payment, collection, and enforcement of the Economic Crime Levy (ECL).
Read moreShifting the dial on ESG
For international women's day we have produced a special episode of our Taxing Matters podcast, in which we discuss macro trends in ESG and gender diversity at work, the meso-level changes within organisations and the micro changes on a personal level talking through trends in ESG. Did we lose momentum during Covid? Do we still have the emphasis in the right places? And what can each of us do to shift the dial?
Read moreExpenditure incurred on the construction of a nuclear deconversion facility did not qualify for capital allowances
Court of Appeal overturns the Upper Tribunal's decision to set aside the First-tier Tribunal’s decision that expenditure incurred on the construction of nuclear deconversion facility did not qualify for capital allowances.
Read moreTax Bites - March 2023
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreTax Tribunal allows appeal and confirms interim dividend was not "due and payable"
In Gould v HMRC, the First-tier Tribunal allowed the taxpayer's appeal and found that an interim dividend paid to the taxpayer was taxable on the date of payment, not the earlier date of declaration.
Read moreCorporate tax update – February 2023
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC's tax team.
Read moreCouldn’t careless? Reasonable care and the role of professional advisers
Whilst taking professional advice will usually mean a taxpayer has taken reasonable care, not taking advice does not necessarily mean a taxpayer has been careless.
Read moreV@ update - February 2023
Welcome to the February 2023 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreCustoms and excise quarterly update - February 2023
Welcome to the February 2023 edition of RPC's Customs and Excise Quarterly Update.
Read moreTribunal allows taxpayers' appeals against Schedule 36 information notices and directs HMRC to issue closure notices
The First-tier Tribunal allowed the taxpayers' appeals against HMRC's Schedule 36 Finance Act 2008 information notices, finding that the information requested was not 'reasonably required' and directed HMRC to issue closure notices within 90 days.
Read moreHMRC ordered to pay taxpayer's costs due to unreasonable behaviour
Granting the taxpayer's application for costs, the First-tier Tribunal held that HMRC had behaved unreasonably in not properly considering whether it could defend the appeal on the basis of arguments that had been previously rejected by the FTT and in not withdrawing from the proceedings at an earlier stage.
Read moreVictory against HMRC - but at what cost?
From a review of recent costs decisions handed down by the First-tier Tribunal (FTT), it is difficult to escape the conclusion that the FTT can be guilty of inconsistency and results-led reasoning when exercising its jurisdiction in relation to costs orders.
Read moreUnravelling the differences between the UK & US tax systems
In this episode of Taxing Matters, we are joined by Alex Jones and Graeme Privett who share their insights and views on how the US and UK are less similar than people might think and how this could lead well-meaning taxpayers into avoidable difficulties.
Read moreTax Bites - February 2023
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreTribunal confirms that dividends declared but withheld from recipients do not constitute taxable income
Taxpayer win in relation to income tax liability on dividends; FTT passes comment on validity of discovery assessments.
Read moreVictory – but at what cost?
From a review of recent costs decisions handed down by the FTT, it is difficult to escape the conclusion that the FTT can be guilty of inconsistency and results-led reasoning when exercising its jurisdiction in relation to costs orders.
Read moreV@ update - January 2023
Welcome to the January 2023 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreTribunal rejects mixed use relief argument but allows SDLT appeal on the basis that multiple dwellings relief is available
Tax Tribunal rejects mixed use relief argument but allows SDLT appeal on the basis that multiple dwellings relief is available in respect of two properties.
Read moreCorporate tax update - January 2023
Welcome to the latest edition of our Corporate Tax Update, written by members of RPC's tax team.
Read moreTribunal confirms it has jurisdiction to consider an argument of abuse of process based on excessive delay on the part of HMRC
Tribunal allows taxpayers' appeals against discovery determinations and penalties and confirms it has jurisdiction to consider an argument of abuse of process based on excessive delay on the part of HMRC.
Read moreCourt of Appeal confirms that management expenses were capital in nature and not deductible for Corporation Tax purposes
In HMRC v Centrica Overseas Holdings Ltd [2022] EWCA Civ 1520, the Court of Appeal (CoA) confirmed that certain professional fees incurred in the run-up to the disposal of a subsidiary were expenses of management but also capital in nature and therefore not deductible for Corporation Tax purposes.
Read moreTribunal orders HMRC to close its enquiry
Granting the taxpayer's application for a closure notice, the First-tier Tribunal held that there were no reasonable grounds for HMRC to maintain its enquiry into the taxpayer's claim to charity tax relief, instead concluding that HMRC must close its enquiry on the information and documentation it held.
Read moreHMRC left in poor spirits following severe rebuke from the Tribunal
Penalty appeals related to alcohol inward diversion fraud upheld and HMRC evidence criticised.
Read moreCourt of Appeal finds that entrepreneurs' relief was available
Court of Appeal finds in favour of the taxpayers concluding that entrepreneurs' relief (now business asset disposal relief) was available as the qualifying time period to hold shares before disposal did not apply to trusts.
Read moreWitness Familiarisation
In this episode of Taxing Matters, we demystify what is witness familiarisation and what is permitted by the tax tribunals and the courts with Dr Penny Cooper.
Read morePayments under indemnity not a remittance
In Sehgal & Anor v HMRC [2022] UKFTT 312 (TC), the First-tier Tribunal ruled that payments made under an indemnity did not constitute a remittance, and there was therefore no chargeable gain for the taxpayers.
Read moreTax Bites - December 2022
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreUpper Tribunal confirms that HMRC has the burden of proof in personal liability notice cases
The Upper Tribunal set aside the decision of the First-tier Tribunal and confirmed that HMRC has the burden of proving that a personal liability notice was correctly issued but once it has met that burden the onus of showing that the assessment on which it was based was excessive, falls on the taxpayer.
Read moreCustoms and excise quarterly update - November 2022
Welcome to the November 2022 edition of RPC's Customs and Excise Quarterly Update. In order to enhance your reading experience, we have adapted the format. We hope you like it
Read moreV@ update - November 2022
Welcome to the November 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreTribunal allows taxpayer's appeal in first consideration of 'main purpose' test in double tax treaty
Allowing the taxpayer's appeal, the First-tier Tribunal held that the main purpose test in Article 12(5) of the double tax treaty between the UK and the Republic of Ireland was not satisfied, and the Appellant was therefore entitled to an exemption from UK income tax withheld at source on a payment of interest received by it in respect of a debt claim.
Read moreTribunal allows unilateral credit for US withholding tax even though no treaty relief available due to 'limitation on benefits' article
US UK double tax treaty and associated UK legislation interpreted to give unilateral credit for withholding tax suffered on interest income.
Read moreTribunal dismisses HMRC's appeal and confirms that a tender support vessel was not a "relevant asset" for the purposes of the oil contractor activities rules contained in Part 8ZA of the CTA 2010
Upper Tribunal dismisses HMRC's appeal and confirms that a tender support vessel was not a "relevant asset", for the purposes of the oil contractor activities rules contained in Part 8ZA of the Corporation Tax Act 2010.
Read moreTax Bites - November 2022
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreTribunal allows taxpayer's appeal and confirms its holding in another company constituted a "structural asset"
Tribunal allows taxpayer's appeal and confirms its holding in another insurance company constituted a "structural asset" for the purpose of section 137, Finance Act 2012.
Read moreV@ update - October 2022
Welcome to the October 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreUpper Tribunal agrees with the taxpayer on payments to secure changes to pension arrangements
The Upper Tribunal allowed E.ON's appeal against HMRC's decisions imposing income tax and national insurance contributions to facilitation payments for changes to pension arrangements.
Read moreLack of documentary evidence no bar to proving capital loss claim
Allowing the taxpayers' appeal, the First-tier Tribunal held the Appellant was entitled to claim a capital loss from an earlier tax year to reduce the capital gains tax due on a gain realised by him on the sale of a commercial property because the claim was notified in time, and that inaccuracies in the Appellant's return had not been brought about deliberately.
Read moreHMRC's Ramsay argument fails
HMRC loses capital allowances case as Ramsay argument fails.
Read moreTribunal considers salaried member rules for the first-time and allows taxpayer's appeal in part
Tribunal considers salaried members rules for the first-time allowing taxpayer's appeal in part
Read moreTax Bites - October 2022
Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.
Read moreNew powers proposed to enable law enforcement agencies to seize crypto assets
On 22 September, the UK government introduced The Economic Crime Bill. The Bill contains provisions to make it quicker and easier for law enforcement agencies, such as the National Crime Agency, to seize, freeze and recover cryptoassets used by criminals to launder the proceeds of crime.
Read moreV@ update - September 2022
Welcome to the September 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.
Read moreValuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill"
Valuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill".
Read moreRepeal of IR35 reforms
The Chancellor announced at last week's “mini-Budget” that the recent changes to the “off-payroll” working rules (commonly referred to as 'IR35') are going to be reversed, from 6 April 2023.
Read morePurpose-based rules: Have we hit BlackRock-bottom?
In HMRC v BlackRock Holdco 5 LLC [2022] UKUT 199 (TCC), the Upper Tribunal (UT) allowed HMRC’s appeal, holding that the First-tier Tribunal (FTT) was wrong to interpose certain terms (covenants) in loans when conducting its analysis of the counter-factual transaction as between the taxpayer and an unconnected third-party. It held that the FTT was wrong to attribute all of the loan debits arising to the taxpayer's commercial main purpose and should instead have arrived at the opposite conclusion.
Read moreHMRC made to cry a river over SEIS defeat
FTT holds in favour of taxpayer in technical SEIS / EIS relief decision.
Read moreResearch and development tax relief
In this episode of Taxing Matters, we discuss the role of R&D tax relief, how to qualify for the relief, how to stay compliant, some common abuses of the system and some of the recently proposed reforms.
Read moreTribunal upholds HMRC notice transferring debt from managed service company to its former director
Tribunal upholds HMRC notice transferring a debt from a managed service company to its former director.
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