What transpired in the third and fourth Finance Bill sittings
Reed Employment plc and 11 others v CRC, Upper Tribunal (Tax and Chancery Division)
HMRC anticipates in-year fines for late-filed returns
Director A owns 16% of the shares of a trading company. The fortunes of the company have declined and she intends to resign and to gift shares to the other shareholders and directors. Director A would like to hold over any chargeable gain
A practical look at the tax treatment of gains by offshore trusts
A husband and wife own several residential investment properties in their joint names. The houses are scattered across a wide area. Another client owns properties in London, but lives outside the city. Consideration is given to whether travelling costs to visit and check the properties and to carry out repair work are allowable
WKF McPherson (TC3456)
HMRC have improved the information and supporting guidance on the business tax dashboard PAYE screens in light of taxpayer feedback.
The main changes can be seen on both the service’s “current position” screens and in the details employers can find using the question mark icons.
Screen changes and revised assistance for “amount paid in period” and “amount due in period” now provide extra detail on:
As more farming clients are making significant trading profits, the potential advantages of incorporation must be considered. Advice is required on the herd basis aspects
The system is increasingly haphazard, the Institute for Fiscal Studies has warned
An artist traded through a limited company. His family inherited his shares on his death and the company continued to make sales, organise exhibitions and publicity events, and produce additional sculptures from castings
A client trades through a limited company of which he is the sole director and employee. His wife owns 50% of the company’s shares. The client will attend a four-day skills update course in the US
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