Category: taxation

The End of the Non-Dom Tax Status: Time Now to End Family Law Domicile Jurisdiction – Financial Remedies Journal

Posted November 18th, 2024 in domicile, families, jurisdiction, news, taxation by tracey

‘Domicile has been a fundamental basis of jurisdiction in English law including English family law. But it is intrinsically backward-looking, archaic in its concepts, thoroughly unknown or at best misunderstood by the population, differently defined abroad and at odds with many other countries including the EU. With the non-domicile tax status being abolished as announced in the budget in late October 2024, is it not time now to end domicile as a family law basis of jurisdiction? Nationality is a far more straightforward, certain and modern basis.’

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Financial Remedies Journal, 11th November 2024

Source: financialremediesjournal.com

The Autumn 2024 Budget: A Summary of the Key Reforms for Financial Remedy Practitioners – Financial Remedies Journal

Posted November 4th, 2024 in budgets, capital gains tax, corporation tax, divorce, education, families, financial dispute resolution, financial provision, foreign jurisdictions, inheritance tax, minimum wage, national insurance, news, stamp duty, taxation by tracey

‘The Autumn Budget 2024 (“the Budget”) saw history being made as Rachel Reeves, who became our first female Chancellor of the Exchequer, set out arguably the biggest tax changes for a generation, set to raise taxes by £41bn by 2029/30 and said to be part of the Government’s plan to revitalise Britain. In this article, we will summarise the key reforms of the Budget, highlighting those which may be of particular relevance to financial remedy practitioners and their clients.’

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Financial Remedies Journal, 1st November 2024

Source: financialremediesjournal.com

Private schools vote for legal action over VAT plans – BBC News

Posted November 1st, 2024 in education, government departments, human rights, judicial review, news, school children, taxation, teachers, VAT by tracey

‘A group representing 1,400 private schools will press ahead with plans for a legal challenge against the government’s introduction of VAT from January, the BBC can reveal.’

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BBC News, 31st October 2024

Source: www.bbc.co.uk

Wise CEO fined £350,000 by FCA over tax payments – The Guardian

Posted October 28th, 2024 in financial services ombudsman, fines, HM Revenue & Customs, news, shareholders, taxation by tracey

‘The founder of the money transfer service Wise has been fined £350,000 for failing to inform the City regulator that he had failed to pay his taxes.’

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The Guardian, 28th October 2024

Source: www.theguardian.com

Extra time – Kingsley Napley Employment Law Blog

Posted October 24th, 2024 in appeals, chambers articles, employment, news, Supreme Court, taxation by sally

‘Waqar Shah and Andy Norris analyse the latest decision of the Supreme Court in the case of Professional Game Match Officials Ltd, which has been referred back to the First-tier Tribunal.’

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Kingsley Napley Employment Law Blog, 22nd October 2024

Source: www.kingsleynapley.co.uk

Christian schools’ legal challenge against VAT on fees – BBC News

Posted October 21st, 2024 in Christianity, fees, news, school children, taxation, teachers, VAT by tracey

‘A independent faith school in Hampshire has launched a legal challenge against the government’s plans to introduce VAT on private school fees.’

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BBC News, 21st October 2024

Source: www.bbc.co.uk

Landfill tax row will cost council £16m to settle – BBC News

Posted September 23rd, 2024 in HM Revenue & Customs, local government, news, taxation, Wales, waste by tracey

‘Wales’ biggest council has agreed to pay £16m to settle a bill over landfill tax dating back 10 years.’

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BBC News, 21st September 2024

Source: www.bbc.co.uk

IR35: taxation of off-payroll workers explained – OUT-LAW.com

Posted September 16th, 2024 in corporation tax, employment, HM Revenue & Customs, news, remuneration, taxation by tracey

‘The off-payroll working rules, known as IR35, apply where a business engages an individual to provide services off-payroll and through an intermediary – commonly a company referred to as a ‘personal services company’ (PSC). IR35 targets the use of PSCs to avoid employment taxes.’

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OUT-LAW.com, 13th September 2024

Source: www.pinsentmasons.com

UK ruling clarifies ‘fixed establishment’ in VAT group cases – OUT-LAW.com

Posted September 9th, 2024 in banking, company law, foreign companies, HM Revenue & Customs, news, taxation, VAT by tracey

‘Foreign companies need to have a substantial presence in the UK, including adequate human and technical resources, for their branch to qualify as a “fixed establishment”, a necessary condition for being treated as a member of a value added tax (VAT) group in the UK, a recent ruling has confirmed.’

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OUT-LAW.com, 6th September 2024

Source: www.pinsentmasons.com

Tax issues for UK holding companies – OUT-LAW.com

Posted August 12th, 2024 in company law, corporation tax, debts, interest, news, shareholders, taxation by tracey

‘This guide considers the tax implications of using a UK holding company to hold shares in other UK or overseas companies.’

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OUT-LAW.com, 9th August 2024

Source: www.pinsentmasons.com

Supreme Court confirms no tax deductions on costs associated with disposal of a business – OUT-LAW.com

Posted August 1st, 2024 in appeals, company law, corporation tax, news, Supreme Court, taxation by tracey

‘Tax deductions were not available for professional fees incurred by an investment company once a decision to sell a business it held had been made, because they were expenses of a capital nature even though they are accepted to have been expenses of management, the UK’s highest court has ruled.’

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OUT-LAW.com, 31st July 2024

Source: www.pinsentmasons.com

Upper Tribunal provides clarity on interpretation of double tax treaty provisions – OUT-LAW.com

Posted June 21st, 2024 in HM Revenue & Customs, interpretation, news, tax avoidance, taxation, tribunals by michael

‘A recent UK Upper Tribunal decision reaffirms the principles governing the application of double tax conventions and provides clarity on the interpretation of treaty provisions aimed at preventing tax avoidance, an expert has said.’

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OUT-LAW.com, 19th June 2024

Source: www.pinsentmasons.com

Ferguson-Davie & Edwards v HMRC: The proper construction of the carried interest provisions – Devereux Chambers

Posted June 12th, 2024 in chambers articles, HM Revenue & Customs, interest, news, taxation by sally

‘The FTT has now handed down its first decision regarding the proper construction of the carried interest provisions at Part III, Ch 5 of the Taxation of Chargeable Gains Act 1992 (TCGA 1992) and the transitional/grandfathering provision at s. 43 (2) Finance (No.2) Act 2015.’

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Devereux Chambers, 13th May 2024

Source: www.devereuxchambers.co.uk

Upper Tribunal rules on taxpayer liability for fixed penalty – OUT-LAW.com

Posted June 12th, 2024 in HM Revenue & Customs, news, notification, penalties, taxation, tribunals by sally

‘A recent UK Upper Tribunal decision highlights that as soon as there has been a failure to comply with an information notice, a taxpayer is automatically liable for a fixed penalty, even if the failure is short-lived, and HMRC can move straight to applying for a tax-related penalty, an expert has said.’

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OUT-LAW.com, 11th June 2024

Source: www.pinsentmasons.com

Angela Rayner cleared of criminal wrongdoing over sale of home – The Guardian

Posted May 29th, 2024 in capital gains tax, HM Revenue & Customs, housing, news, political parties, tax avoidance, taxation by tracey

‘Angela Rayner has been cleared of criminal wrongdoing over claims she avoided tax on the sale of a home, with the Labour deputy leader criticising what she called the “desperate tactics” of Conservative MPs who urged police to investigate.’

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The Guardian, 28th May 2024

Source: www.theguardian.com

Judges reject HMRC appeal and rule firm’s marshmallows are not sweets – The Guardian

Posted April 24th, 2024 in appeals, food, HM Revenue & Customs, news, taxation, VAT by tracey

‘A food company has won a sweet-tasting victory against the UK tax authorities after a court decided that it did not have to pay VAT on its marshmallows because they were not confectionery.’

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The Guardian, 23rd April 2024

Source: www.theguardian.com

NHS parking charges should be free of VAT, Court of Appeal rules – OUT-Law.com

Posted March 27th, 2024 in appeals, HM Revenue & Customs, hospitals, news, parking, taxation, VAT by sally

‘A new ruling by the Court of Appeal could help NHS trusts across England recover VAT paid on parking charges imposed at their hospital sites, though there is the prospect of an appeal, tax experts have said.’

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OUT-LAW.com, 26th March 2024

Source: www.pinsentmasons.com

New legislation simplifies UK Construction Industry Scheme scope – OUT-LAW.com

Posted March 11th, 2024 in building law, construction industry, landlord & tenant, news, taxation by tracey

‘New rules outlined today are designed to simplify a UK tax regime that applies when tenants carry out certain construction works and where payment is made by landlords.’

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OUT-LAW.com, 8th March 2024

Source: www.pinsentmasons.com

Claimant “does not know” identity of funder backing her case – Legal Futures

Posted March 11th, 2024 in abuse of process, banking, data protection, disclosure, HM Revenue & Customs, news, taxation, treaties by tracey

‘The High Court has rejected an attempt to progress a challenge to a major international tax transparency measure where the claimant has refused to identify their litigation funder.’

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Legal Futures, 11th March 2024

Source: www.legalfutures.co.uk

VAT: burial, cremation and commemoration of the dead – Law & Religion UK

Posted March 6th, 2024 in burials and cremation, HM Revenue & Customs, news, taxation, VAT by sally

‘HMRC has updated Burial, cremation and commemoration of the dead (VAT Notice 701/32). It explains the VAT liability of funeral services, burials and cremations, goods and services connected with the commemoration of dead people, other goods and services connected with organising funerals, and other activities relating to the disposal of the remains of the dead, including transport of the deceased.’

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Law & Religion UK, 5th March 2024

Source: lawandreligionuk.com