Category: taxation

Civil partnerships for heterosexual couples: what you need to know – Family Law

Posted February 5th, 2020 in civil partnerships, equality, families, inheritance tax, marriage, news, prenuptial agreements, taxation, wills by tracey

‘As of 31st December 2019, it is now possible for both same-sex and heterosexual couples to enter into a civil partnership. The institution was initially devised solely for same-sex couples through the Civil Partnership Act 2004; it was meant to be a distinct separate relationship status for same-sex couples akin, but different to, a marriage. This has now changed and moving into 2020, heterosexual couples may opt for a civil partnership instead of a marriage.’

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Family Law, 5th February 2020

Source: www.familylaw.co.uk

CA: Litigants do not owe duty of care to opponents – Litigation Futures

Posted December 20th, 2019 in appeals, civil procedure rules, damages, documents, duty of care, fraud, HM Revenue & Customs, negligence, news, statutory duty, taxation, VAT by tracey

‘Litigants do not owe a duty of care to their opponents, the Court of Appeal has made clear.’

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Litigation Futures, 18th December 2019

Source: www.litigationfutures.com

Bury fight on after winding-up petition is dismissed in London court – The Guardian

Posted December 19th, 2019 in insolvency, news, sport, taxation, winding up by sally

‘The Companies Court heard on Wednesday that Bury and their owner, Steve Dale, had settled an outstanding debt with HM Revenue & Customs. The winding-up petition was dismissed by Judge Sally Barber, with the club instructed to pay costs.’

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The Guardian, 18th December 2019

Source: www.theguardian.com

Jailed solicitor must repay £3m or face more prison time – Legal Futures

Posted December 18th, 2019 in assets recovery, fraud, HM Revenue & Customs, imprisonment, money laundering, news, proceeds of crime, solicitors, taxation by sally

‘A jailed solicitor involved in the UK’s biggest ever tax fraud must repay £3m of his ill-gotten gains or face a further nine years in prison, a judge at the Old Bailey has ruled.’

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Legal Futures, 18th December 2019

Source: www.legalfutures.co.uk

VAT recoverable on shareholder employee tax avoidance scheme says tribunal – OUT-LAW.com

Posted December 11th, 2019 in company directors, employment, news, shareholders, tax avoidance, taxation, tribunals, VAT by tracey

‘Advice on incentivising employees in a tax efficient manner has a direct and immediate link to the purposes of the business and so VAT input tax should be recoverable, even if the employees are directors and shareholders, the UK’s First-tier Tribunal (FTT) has ruled.’

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OUT-LAW.com, 10th December 2019

Source: www.pinsentmasons.com

Taxation of personal service companies and the construction sector: what is changing and who will be affected? – Practical Law Construction Blog

Posted December 10th, 2019 in construction industry, contracting out, news, taxation by sally

‘2020 is looking to be a year in which the tax burden of companies operating in the UK construction sector is likely to increase. This is due, first, to the delayed implementation of the VAT reverse charge (now 1 October 2020) and secondly, to major changes in the UK tax treatment of off-payroll workers. In this blog we discuss the implications of the changes to the off-payroll working rules (commonly known as “IR35”) and the steps companies affected by these changes can take.’

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Practical Law Construction Blog, 10th December 2019

Source: constructionblog.practicallaw.com

High Court ruling “shows strength of Manolete model” – Litigation Futures

Posted December 6th, 2019 in assignment, champerty, default judgments, news, setting aside, tax evasion, taxation, third parties, VAT by sally

‘A High Court ruling refusing to set aside £4.3m judgment in default in a suppressed sales case shows the strength of the litigation funding model used by Manolete Partners, it has been argued.’

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Litigation Futures, 5th December 2019

Source: www.litigationfutures.com

The CumEx trading scandal: What are the implications for the UK? – 5SAH

Posted November 26th, 2019 in financial regulation, news, shareholders, tax avoidance, taxation by sally

‘“CumEx” is a controversial dividend arbitrage stock trading practice currently under investigation in several European jurisdictions with, to date, limited involvement from the UK authorities. It allegedly caused significant losses to various EU treasuries, which are currently engaged in civil proceedings, regulatory settlements and criminal proceedings, including against two former London traders who are currently on trial for tax fraud in Germany.’

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5SAH, 19th November 2019

Source: www.5sah.co.uk

Follower notices invalid, says Court of Appeal – OUT-LAW.com

Posted November 15th, 2019 in appeals, HM Revenue & Customs, interest, judicial review, loans, news, striking out, tax avoidance, taxation by tracey

‘The Court of Appeal in England has quashed follower notices issued to a participant in a film partnership on the basis that tax authority HM Revenue & Customs (HMRC) could not have been of the opinion that the judicial ruling they were based on was relevant to the taxpayer’s case.’

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OUT-LAW.com, 14th November 2019

Source: www.pinsentmasons.com

BBC presenters told to pay tens of thousands in back taxes as judge rules against them – Daily Telegraph

Posted September 19th, 2019 in BBC, contract of employment, HM Revenue & Customs, news, self-employment, taxation by tracey

‘Three BBC news presenters have been told to pay hundreds of thousands of pounds in back taxes, despite the High Court finding that the corporation forced them into the wrong contracts.’

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Daily Telegraph, 18th September 2019

Source: www.telegraph.co.uk

HMRC faces legal fight for handing Britons’ data to US tax officials – The Guardian

Posted September 12th, 2019 in banking, citizenship, disclosure, foreign jurisdictions, HM Revenue & Customs, news, proportionality, taxation by tracey

‘HMRC is facing a legal battle to block it from handing personal details about British citizens to US tax authorities. The case could have wide-ranging implications for tens of thousands of so-called accidental Americans who left the US when they were months or years old but risk having their British bank accounts frozen for failing to comply with the US tax requirements.’

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The Guardian, 12th September 2019

Source: www.theguardian.com

HMRC escapes costs after defending appeal over ‘chaotic’ decision – Law Society’s Gazette

Posted September 10th, 2019 in appeals, costs, HM Revenue & Customs, news, taxation by tracey

‘HM Revenue & Customs will not have to pay the £6,245 costs of a wine wholesaler who successfully appealed a decision notice, a tribunal has ruled.’

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Law Society's Gazette, 9th September 2019

Source: www.lawgazette.co.uk

Financial Remedy Update, September 2019 – Family Law Week

Posted September 9th, 2019 in appeals, bills, civil procedure rules, cohabitation, divorce, families, financial dispute resolution, financial provision, news, pensions, reasons, statistics, taxation by tracey

‘Rose-Marie Drury, Principal Associate, Mills & Reeve LLP analyses the news and case law relating to financial remedies and divorce during August 2019.’

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Family Law Week, 6th September 2019

Source: www.familylawweek.co.uk

Lord Carnwath at the Statute Law Society – Supreme Court

Posted July 15th, 2019 in legislative drafting, speeches, statutory interpretation, taxation by tracey

‘Lord Carnwath at the Statute Law Society.’

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Supreme Court, 10th July 2019

Source: www.supremecourt.uk

Inheritance tax: Rules on gifts to loved ones ‘should be simplified’ – BBC News

Posted July 8th, 2019 in inheritance tax, news, statistics, taxation by sally

‘Fewer people should have to pay tax on gifts given just before death, under proposals for a major overhaul of the inheritance tax system.’

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BBC News, 5th July 2019

Source: www.bbc.co.uk

Solicitor can sue firm as employee after ‘informal’ partnership rejected – Law Society’s Gazette

Posted June 28th, 2019 in compensation, damages, employment, employment tribunals, law firms, news, partnerships, self-employment, solicitors, taxation, wrongful dismissal by sally

‘A solicitor introduced to an elevated role in her former firm through a historic partnership agreement can make an employment claim as an employee, a tribunal has ruled.’

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Law Society's Gazette, 27th June 2019

Source: www.lawgazette.co.uk

Discovery assessments: the Court of Appeal in Tooth – OUT-LAW.com

Posted June 24th, 2019 in appeals, documents, HM Revenue & Customs, news, tax evasion, taxation, time limits by tracey

‘The Court of Appeal decided in the Tooth case that finding a different reason for under assessment or a different mechanism for assessing an insufficiency of tax HMRC already knew about was not enough to enable HMRC to issue a discovery assessment.’

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OUT-LAW.com, 21st June 2019

Source: www.pinsentmasons.com

HMRC wins ‘unallowable purpose’ case – OUT-LAW.com

Posted May 31st, 2019 in interest, news, taxation by tracey

‘A UK company had an “unallowable purpose” in issuing a promissory note and therefore could not deduct the interest payable to a US group company, the First-tier Tribunal in the UK has decided in a case concerning a company in the Oxford Instruments group.’

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OUT-LAW.com, 30th May 2019

Source: www.out-law.com

Tribunal confirms surcharge on pension liberation scheme user – OUT-LAW.com

Posted May 30th, 2019 in HM Revenue & Customs, loans, news, penalties, pensions, taxation by tracey

‘An unauthorised payment surcharge imposed on an individual who participated in a pension liberation scheme was confirmed by the tax tribunal as it said the individual had not acted reasonably in entering into the scheme.’

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OUT-LAW.com, 29th May 2019

Source: www.out-law.com

Entrepreneurs’ Relief: preference shares were ‘ordinary share capital’, says Tribunal – OUT-LAW.com

Posted May 28th, 2019 in dividends, HM Revenue & Customs, news, shareholders, taxation, tribunals by tracey

‘Preference shares which carried the right to a fixed cumulative preferential dividend were ‘ordinary share capital’ for the purposes of calculating entrepreneurs’ relief, the First-tier Tribunal has decided.’

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OUT-LAW.com, 24th May 2019

Source: www.out-law.com