Issue : Vol 191, Issue 4877

Does the enquiry regime give the right balance?

The good, the bad, the could do better

A resounding success

The time is now

New beginning

Residence owned by trust A’s main residence was transferred to a discretionary trust. The potential beneficiaries are A’s two elderly children. It was assumed A will not pay IHT on their death as the...

Charitable venture We have been asked to advise a team of four intrepid individuals who have teamed up to take part in a cross-Atlantic rowing competition. The basic details are: Entry fee...

VAT administration One of my clients owns a commercial building in London, which he is going to renovate and rent out to a restaurant. The client wishes to opt to tax the building and register for VAT...

Student accommodation My client is an incorporated property investor who has just bought an office building and intends to convert it into self-contained living accommodation. He is concerned about...

PAYE coding out of potential underpayments. HMRC Agent Update 76 announced HMRC now has the facility to code out self assessment (SA) underpayments in the current year (CY) tax code, rather than just...

VAT registrationHMRC has updated VAT Notice 700/2 ‘Group and divisional VAT registration’ to make clear in section 7.5 that the amount of £7,500 relates to the output tax, and applies to the whole...

From 31 January 2023, companies and their agents must complete and submit enterprise investment scheme (EIS) and seed enterprise investment scheme (SEIS) compliance statements using HMRC’s new...

HMRC tried to shut down 440 companies in the three months to December 2022 over unpaid tax debts, according to new data from Mazars. This is a 46% increase from the 301 that it tried to close the...

A company which charged taxpayers significant sums to make claims for tax refunds has been stopped from operating.Tax Credits Ltd (TCL) can no longer trade as a repayment agent after HMRC found it had...

HMRC has recently launched three more one-to-many letter campaigns.Some 2,024 letters were issued during the two weeks beginning 23 January 2023 to companies that have made research and development...