There will be no alterations to the UK’s handling of the tour operators margin scheme (TOMS) following a legal ruling in Europe, HMRC have confirmed.
The Court of Justice of the European Union (CJEU) recently heard infraction proceedings against Spain, Poland, Italy, Czech Republic, Greece, France, Finland and Portugal in connection with the country’s operation of the TOMS.
The court ruled that wholesale supplies should be covered by the scheme and calculations must be carried out on an individual transaction basis.
A UK resident acquired a portfolio of commercial properties from his uncle in 2011. The uncle did not claim any capital allowances in respect of the properties
A taxpayer has registered with HMRC as a sole trader in futures derivatives. He has made a loss in the first six months of £30,000
No understatement: H and I Newell (t/a Tanya’s Takeaway) (TC3120)
R J Herbert Engineering Ltd (TC3132)
The case of Samadian highlights the problems with Mallalieu v Drummond
The practice of Construction Industry Training Board (CITB) levy deduction will no longer be supported by HMRC, the department has announced.
The CITB is responsible for promoting vocational training in the construction industry. It can impose a charge on employers or contractors to fund its operations.
Many contractors recoup the fee from subcontractors in the form of a deduction made from the “gross amount of payment” shown on monthly returns.
Almost 1,400 movies have become eligible to claim film tax relief since its inception in January 2007 to buoy UK cinema, according to newly released HMRC figures.
Of 1,390 productions, 1,050 have made 1,900 claims for a total of £1.1bn, with 1,700 claims having so far received £995m between them. The Revenue data shows that 96% of payments were made within six months of claims being received by the taxman.
Arguments in support of the control premium
Interim report plans to patch up “fiscal footwear”
Should new firms be lining up to claim relief under the R&D and patent box schemes?
The implications of Finance Bill 2014’s changes to rules for mixed partnerships
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