HMRC enquiries - The burden of proof: should unexplained receipts be treated as additional taxable income?

Enquiries by HM Revenue & Customs (HMRC) into tax returns will often involve a review of all monies received, with a view to establishing whether taxpayers have declared all taxable income and gains.... Read more

Introducing Bloomsbury Tax Planner Interactive: Video Demo

Bloomsbury Tax Planner Interactive is our new online product which helps practitioners identify the appropriate planning to deal with the most frequently encountered situations where clients are... Read more

Penalties for tax return errors – ‘Special reductions’ and suspensions of penalties

Most tax practitioners will be familiar by now with the penalty regime for errors in tax returns and other documents (FA 2007, Sch 24). The level of penalty broadly depends on whether an error was... Read more

HMRC powers – Information notices and private bank statements

A controversial aspect of enquiries by HM Revenue and Customs (HMRC) into personal tax returns is requests to see the taxpayer’s private bank statements. Read more

Bloomsbury Professional Online: Case Study #1 - Reviewing the FA 2012 changes to the fixtures rules

This case study video by Steve Savory shows how to use the Bloomsbury Professional Online site to review the changes to the fixtures rules in FA 2012 and share content with colleagues and clients. ... Read more

Introduction to search - Bloomsbury Professional Online demo

HMRC enquiries - Undisclosed company profits taxed as loans to participators

It is not uncommon for HMRC enquiries into the business accounts of an individual or company to result in additions to turnover and profits. For example, unexplained lodgements into a private bank... Read more

What is a ‘trade’? – A possible further badge of trade to consider

It will generally be clear whether a person is carrying on a trade, although there will always be grey areas of uncertainty. There is little help to be found in the tax legislation, which merely... Read more

Incorporation relief - What is a 'business' for CGT incorporation relief purposes?

The incorporation of a business will often involve the disposal by a sole trader or partnership to a company of chargeable assets for CGT purposes, such as free goodwill or land and buildings. The... Read more

Controlling persons - the Government's proposed rules and their implications

The government announced in Budget 2012 that measures would be introduced to tackle avoidance through the use of personal service companies. It was also announced that there would be consultation on... Read more

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