Tax Online Blog

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... Read more

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... Read more

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... Read more

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... Read more

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... Read more

Spring Statement – 13 March The Chancellor has announced that the Spring Statement will be on Wednesday 13 March. Read more

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... Read more

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... Read more

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... Read more

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... Read more