Phoenix from the flames In 2016, new rules were introduced to stop a type of “phoenixism”. Not the old sort that really got HMRC’s goat where someone would pay all their debtors but HMRC and then...
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Chargeable event gains: A ‘just and reasonable’ remedy?
When an individual surrenders part of a life policy, a chargeable gain is triggered equal to the surrender proceeds less 5% of the premium for each year that the policy has been held. This method...
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Marriage allowance: Claims and back-dated claims
The days before the end of the tax year are a good time for advisers to ensure that their clients have claimed all tax reliefs and allowances to which they are entitled, before another year falls...
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Courts and Tribunals: February 2018
Tribunal was correct to find taxpayer failed to meet required condition to change his accounting date The Upper Tribunal (UT) has dismissed an appeal by a taxpayer who claimed that the First-tier...
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VAT news and cases roundup: February 2019
HMRC reached correct conclusion by a flawed decision-making process An appeal against a decision of HMRC to issue a notice of requirement (NoR) to provide security under VATA 1994, Sch 11, para...
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One Month in a Minute: February 2019
Spring Statement – 13 March The Chancellor has announced that the Spring Statement will be on Wednesday 13 March.
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IR35 Tax Reforms - the latest updates for 2019
The Intermediaries Legislation (IR35) which was first introduced in the early 2000’s, has the purpose to retract tax advantages for individuals who present themselves as a limited business. The...
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Cross-party opposition to extending time limits in ‘offshore matters’
It is not often that amendments to the annual Finance Bill make headline news, and rarer still that they are forced on the Government by cross-party groups of MPs. In the past week, the Bill was...
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The ‘digital exclusion’ exemption for MTD: Its origin and scope
Of the recommendations of the recent Report on Making Tax Digital for VAT: Treating small businesses fairly by the House of Lords Economic Affairs Committee (Finance Bill Sub-Committee), one in...
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HMRC review HICBC failure to notify penalties
HMRC’s announcement that they would review certain cases where penalties were charged on taxpayers who had failed to register for the high income child benefit charge (HICBC), and refund them...
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