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Tax Take

Perspective - Blog

Victory – but at what cost?

Published on 31 January 2023. By Adam Craggs, Partner and Harry Smith, Senior Associate

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.

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Perspective - Publication

V@ update - January 2023

Published on 26 January 2023. By Adam Craggs, Partner

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.

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Perspective - Blog

Tribunal rejects mixed use relief argument but allows SDLT appeal on the basis that multiple dwellings relief is available

Published on 25 January 2023. By Alexis Armitage, Senior Associate

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.

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Perspective - Publication

Corporate tax update - January 2023

Published on 23 January 2023. By Ben Roberts, Partner

Welcome to the latest edition of our Corporate Tax Update, written by members of RPC's tax team.

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Perspective - Blog

Tribunal confirms it has jurisdiction to consider an argument of abuse of process based on excessive delay on the part of HMRC

Published on 18 January 2023.

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.

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Perspective - Blog

Court of Appeal confirms that management expenses were capital in nature and not deductible for Corporation Tax purposes

Published on 11 January 2023. By Keziah Mastin, Associate

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.

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Perspective - Blog

Tribunal orders HMRC to close its enquiry

Published on 04 January 2023. By Liam McKay, Senior Associate

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.

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Perspective - Blog

HMRC left in poor spirits following severe rebuke from the Tribunal

Published on 21 December 2022. By Harry Smith, Senior Associate

Penalty appeals related to alcohol inward diversion fraud upheld and HMRC evidence criticised.

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Perspective - Blog

Court of Appeal finds that entrepreneurs' relief was available

Published on 14 December 2022. By Alexis Armitage, Senior Associate

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.

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Perspective - Podcast

Witness Familiarisation

12 December 2022

Tax podcast small with tint

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.

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Perspective - Blog

Payments under indemnity not a remittance

Published on 07 December 2022.

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.

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Perspective - Publication

Tax Bites - December 2022

Published on 01 December 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Blog

Upper Tribunal confirms that HMRC has the burden of proof in personal liability notice cases

Published on 30 November 2022. By Keziah Mastin, Associate

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.

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Perspective - Publication

Customs and excise quarterly update - November 2022

Published on 29 November 2022. By Adam Craggs, Partner and Harry Smith, Senior Associate

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

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Perspective - Publication

V@ update - November 2022

Published on 25 November 2022. By Adam Craggs, Partner

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.

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Perspective - Blog

Tribunal allows taxpayer's appeal in first consideration of 'main purpose' test in double tax treaty

Published on 23 November 2022. By Liam McKay, Senior Associate

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.

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Perspective - Blog

Tribunal allows unilateral credit for US withholding tax even though no treaty relief available due to 'limitation on benefits' article

Published on 16 November 2022. By Harry Smith, Senior Associate

US UK double tax treaty and associated UK legislation interpreted to give unilateral credit for withholding tax suffered on interest income.

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Perspective - Blog

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 CTA 2010

Published on 09 November 2022. By Alexis Armitage, Senior Associate

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.

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Perspective - Publication

Tax Bites - November 2022

Published on 03 November 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Blog

Tribunal allows taxpayer's appeal and confirms its holding in another company constituted a "structural asset"

Published on 02 November 2022.

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.

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Perspective - Publication

V@ update - October 2022

Published on 26 October 2022. By Adam Craggs, Partner

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.

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Perspective - Blog

Upper Tribunal agrees with the taxpayer on payments to secure changes to pension arrangements

Published on 26 October 2022. By Keziah Mastin, Associate

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.

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Perspective - Blog

Lack of documentary evidence no bar to proving capital loss claim

Published on 19 October 2022. By Liam McKay, Senior Associate

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.

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Perspective - Blog

HMRC's Ramsay argument fails

Published on 12 October 2022. By Harry Smith, Senior Associate

HMRC loses capital allowances case as Ramsay argument fails.

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Perspective - Blog

Tribunal considers salaried member rules for the first-time and allows taxpayer's appeal in part

Published on 05 October 2022. By Alexis Armitage, Senior Associate

Tribunal considers salaried members rules for the first-time allowing taxpayer's appeal in part

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Perspective - Publication

Tax Bites - October 2022

Published on 04 October 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Blog

New powers proposed to enable law enforcement agencies to seize crypto assets

Published on 28 September 2022. By Adam Craggs, Partner

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.

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Perspective - Publication

V@ update - September 2022

Published on 28 September 2022. By Adam Craggs, Partner

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.

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Perspective - Blog

Valuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill"

Published on 28 September 2022.

Valuing leasehold interests in trade-related properties using profits method does not involve disaggregation of property value and "transferable goodwill".

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Perspective - Blog

Repeal of IR35 reforms

Published on 27 September 2022. By Robert Waterson, Partner and Kelly Thomson, Partner

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.

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Perspective - Blog

Purpose-based rules: Have we hit BlackRock-bottom?

Published on 21 September 2022.

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.

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Perspective - Blog

HMRC made to cry a river over SEIS defeat

Published on 14 September 2022. By Harry Smith, Senior Associate

FTT holds in favour of taxpayer in technical SEIS / EIS relief decision.

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Perspective - Podcast

Research and development tax relief

12 September 2022

Tax podcast small with tint

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.

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Perspective - Blog

Tribunal upholds HMRC notice transferring debt from managed service company to its former director

Published on 07 September 2022. By Alexis Armitage, Senior Associate

Tribunal upholds HMRC notice transferring a debt from a managed service company to its former director.

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Perspective - Publication

HMRC announces latest 'nudge' letter campaign concerning 'Persons of Significant Control' and share disposals

Published on 05 September 2022. By Adam Craggs, Partner

HMRC's Wealthy External Forum has revealed that it is sending nudge letters to people who are recorded as being 'Persons of Significant Control' in unquoted companies.

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Perspective - Publication

Tax Bites - September 2022

Published on 01 September 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Blog

Taxpayer successful in application for permission to rely on expert evidence

Published on 31 August 2022.

Taxpayer successful in application for permission to rely upon expert evidence.

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Perspective - Publication

HMRC prepares for new 'nudge' letter campaign aimed at offshore corporates owning UK property

Published on 26 August 2022. By Adam Craggs, Partner and Liam McKay, Senior Associate

HMRC are targeting offshore corporates that own UK property and who may not have met all of their UK tax obligations. HMRC have confirmed that they will be launching a new campaign in September 2022.

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Perspective - Publication

V@ update - August 2022

Published on 25 August 2022. By Adam Craggs, Partner and Harry Smith, Senior Associate

Welcome to the August 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.

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Perspective - Blog

All settled!

Published on 24 August 2022. By Harry Smith, Senior Associate

Loan relationship appeal allowed as credit relating to settlement of litigation due to mis-selling of swaps did not arise from related transaction.

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Perspective - Publication

Customs and excise quarterly update - August 2022

Published on 23 August 2022. By Adam Craggs, Partner and Michelle Sloane, Partner

Welcome to the August 2022 edition of RPC's Customs and Excise Quarterly Update.

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Perspective - Blog

Permission to appeal not required for successful party to a tax appeal

Published on 17 August 2022. By Keziah Mastin, Associate

In dismissing the taxpayer's objection, the Upper Tribunal decided that HMRC, who had won before the First-tier Tribunal need not apply for permission to appeal in order to raise two new arguments in response to the taxpayer's appeal to the Upper Tribunal.

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Perspective - Blog

Capital Gains and Principal Residence Relief: What Makes a House?

Published on 10 August 2022. By Liam McKay, Senior Associate

Allowing the taxpayers' appeals, the First-tier Tribunal held that, for the purposes of calculating entitlement to Principal Residence Relief under sections 222 and 223 of the Taxation of Chargeable Gains Act 1992, "dwelling-house" did not include the land on which the house was built, and "period of ownership" referred only to the period of ownership of the dwelling-house itself.

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Perspective - Publication

Tax Bites - August 2022

Published on 04 August 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Publication

Tax Bites - July 2022

Published on 04 August 2022. By Adam Craggs, Partner

Welcome to the latest edition of RPC's Tax Bites - providing monthly bite-sized updates from the tax world.

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Perspective - Blog

Tribunal confirms discovery assessment was invalid as enquiry window was still open

Published on 03 August 2022. By Alexis Armitage, Senior Associate

Tribunal allows taxpayer's appeal confirming that a discovery assessment raised under section 29 Taxes Management Act 1970, was invalid as the enquiry window was still open.

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Perspective - Publication

HMRC investigating hundreds of UK customers of Puerto Rico-based Euro Pacific Bank

Published on 29 July 2022. By Adam Craggs, Partner

HMRC investigating hundreds of UK customers of Puerto Rico-based Euro Pacific Bank.

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Perspective - Publication

V@ update - July 2022

Published on 28 July 2022. By Adam Craggs, Partner and Harry Smith, Senior Associate

Welcome to the July 2022 edition of RPC's V@, an update which provides analysis and news from the VAT world relevant to your business.

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Perspective - Blog

Agent was careless notwithstanding white space disclosure

Published on 27 July 2022.

White space disclosure on tax returns not a defence against claim of carelessness, as FTT upholds discovery assessments.

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Perspective - Blog

HMRC fails to discharge burden of proof in appeal against personal liability notices

Published on 20 July 2022. By Harry Smith, Senior Associate

Taxpayer win in case where MTIC fraud alleged in relation to zero-rating of supplies for VAT.

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