Limitation, latent damage and tax mitigation scheme claims – Hardwicke Chambers

‘As (relatively) recent press coverage of celebrity participants shows, litigation relating to tax mitigation (or avoidance) schemes is on the rise. HMRC has taken an increasingly harder line in recent years both in tightening the legislation surrounding tax avoidance and in refusing and litigating claims for tax relief based on “losses” incurred in tax mitigation schemes. Investors who have lost out are increasingly turning to their original financial advisers for recompense. Unfortunately, many such claims are only considered or intimated after the primary limitation period has passed.’

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Hardwicke Chambers, 15th June 2015

Source: www.hardwicke.co.uk

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Upper Tribunal: Ocean Finance VAT arrangements could stand as not ‘wholly artificial’ – OUT-LAW.com

Posted June 10th, 2015 in advertising, HM Revenue & Customs, news, tax avoidance, tribunals, VAT by sally

‘HM Revenue and Customs (HMRC) should not look beyond the contractual arrangements that govern a company’s structure when establishing liability for VAT unless those arrangements do not reflect “economic and commercial reality”, a tribunal has ruled.’

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OUT-LAW.com, 5th June 2015

Source: www.out-law.com

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TV ‘exposure’ of Scientology halted by UK libel law split – The Guardian

‘Plans to broadcast HBO’s Church of Scientology exposé, Going Clear, have been shelved by Sky Atlantic in a virtual repeat of events two years ago, when UK publishers abandoned publication of the book on which the hard-hitting new TV documentary is based.’

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The Guardian, 18th April 2015

Source: www.guardian.co.uk

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Avoidance scheme effective despite HMRC’s attempt to rely on Ramsay – RPC Tax Take

Posted March 31st, 2015 in appeals, corporation tax, HM Revenue & Customs, news, tax avoidance, tribunals by sally

‘In Gemsupa Limited and Consolidated Property Wilmslow Limited v HMRC [2015] UKFTT 0097 (TC), the First-tier Tribunal (Tax Chamber) (“FTT”) found that an avoidance scheme designed to avoid corporation tax on chargeable gains on the disposal of properties through the use of share sales and options to create and then disband a group was effective.’

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RPC Tax Take, 25th March 2015

Source: www.rpc.co.uk

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Family Law Week’s Budget Briefing 2015 – Family Law Week

Posted March 24th, 2015 in benefits, budgets, families, news, social security, tax avoidance, taxation by sally

‘Jan Ellis, chartered accountant, of Ellis Foster LLP, a firm which specialises in advising family lawyers on tax-related family law issues, explains the budget changes of most relevance to family lawyers.’

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Family Law Week, 18th March 2015

Source: www.familylawweek.co.uk

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Tribunal confirms no penalty for implementing tax avoidance scheme – RPC Tax Take

Posted March 19th, 2015 in news, penalties, tax avoidance, tribunals by sally

‘In the recent case of Herefordshire Property Company Ltd v HMRC1, the First-tier Tribunal (Tax Chamber) (“FTT”) allowed the taxpayer’s appeal against the imposition by HMRC of a penalty, which was based on an allegation of negligent implementation of a tax planning scheme by the taxpayer.’

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RPC Tax Take, 18th March 2015

Source: www.rpc.co.uk

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Divorcing? Delay until April 6 to cut your tax bill – Daily Telegraph

Posted March 18th, 2015 in capital gains tax, divorce, news, tax avoidance, taxation by sally

‘A little-understood aspect of the tax rules means couples could avoid capital gains tax by delaying separation until the next financial year.’

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Daily Telegraph, 17th March 2015

Source: www.telegraph.co.uk

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Disclosure requirements for ‘high risk’ UK tax avoidance scheme promoters come into force – OUT-LAW.com

Posted March 11th, 2015 in disclosure, HM Revenue & Customs, news, tax avoidance by tracey

‘Promoters of tax avoidance schemes that have been identified as “high risk” by UK tax authorities must now publicise that they are being monitored so that potential customers are aware of the risks of using them, HM Revenue and Customs (HMRC) has announced.’

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OUT-LAW.com, 10th March 2015

Source: www.out-law.com

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Regina (Ingenious Media Holdings Ltd) v Revenue and Customs Commissioners – WLR Daily

Regina (Ingenious Media Holdings Ltd) v Revenue and Customs Commissioners: [2015] EWCA Civ 173; [2015] WLR (D) 104

‘In the particular circumstances of the case limited disclosures made by a Revenue and Customs official in an “off the record” briefing with journalists concerning tax avoidance schemes had been made “for the purposes” of a function of the Revenue and Customs, within section 18(2)(a)(i). Therefore there had been no breach of article 18(1) of the Commissioners for Revenue and Customs Act 2005, which required the commissioners to maintain confidentiality of information about a taxpayer’s affairs.’

WLR Daily, 4th March 2015

Source: www.iclr.co.uk

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Tribunal adopts a literal interpretation of the provisions in allowing the taxpayer’s appeal – RPC Tax Take

Posted December 12th, 2014 in appeals, income tax, news, shareholders, tax avoidance, tax credits by sally

‘In Philip Shirley v HMRC, [1] the First-tier Tribunal (Tax Chamber) (FTT) concluded that a provision in a statute rewritten as part of the Tax Law Rewrite Project should be literally interpreted as the wording in question was clear and unambiguous.’

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RPC Tax Take, 11th December 2014

Source: www.rpc.co.uk

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Cameron takes action on terrorism funding in charity sector through new law – The Independent

Posted October 22nd, 2014 in bills, charities, fraud, news, tax avoidance, terrorism by sally

‘David Cameron has awarded extra powers and £8 million to a charity watchdog in an effort to “confront the menace of extremism” posed by bogus charities that divert cash to terrorism and other criminal activity.’

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The Independent, 22nd October 2014

Source: www.independent.co.uk

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SRA fines firm £2,000 for £2.5m stamp duty avoidance schemes – Legal Futures

Posted October 3rd, 2014 in fines, law firms, news, Solicitors Regulation Authority, stamp duty, tax avoidance by tracey

‘Leading Surrey firm Mundays has been fined £2,000 by the Solicitors Regulation Authority for using stamp duty land tax (SDLT) avoidance schemes which saved clients over £2.5m.’

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Legal Futures, 3rd October 2014

Source: www.legalfutures.co.uk

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HMRC closing the gap on tax avoidance – RPC Commercial Disputes Blog

Posted August 8th, 2014 in complaints, financial advice, HM Revenue & Customs, news, tax avoidance by sally

‘Anyone who has invested in, promoted, or advised on any form of tax mitigation scheme may be feeling slightly nervous following the latest announcement from HMRC concerning the on-going saga of tax avoidance. And understandably so.’

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RPC Commercial Disputes Blog, 7th August 2014

Source: www.rpc.co.uk

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Accelerated tax payment provisions to be extended to NIC avoidance schemes – OUT-LAW.com

Posted July 23rd, 2014 in bills, national insurance, news, tax avoidance by michael

‘New provisions requiring accelerated payment of tax in certain tax avoidance schemes, which became law last week, will be extended to National Insurance Contributions (NICs) two months after the National Insurance Contributions Bill 2014 becomes law, the government has announced.’

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OUT-LAW.com, 22nd July 2014

Source: www.out-law.com

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Take That stars could face tax bill of millions after court decision – BBC News

Posted May 12th, 2014 in artistic works, HM Revenue & Customs, news, tax avoidance by sally

‘Three members of the band Take That may have to pay back millions of pounds in tax after a tribunal ruling.’

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BBC News, 10th May 2014

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Charity Commission ‘not fit for purpose’, says Margaret Hodge – The Guardian

‘Margaret Hodge has described the Charity Commission as not “fit for purpose” after a highly critical report warned that its failure to investigate fraud and abuse was undermining public faith in good causes.’

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The Guardian, 4th December 2013

Source: www.guardian.co.uk

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Supreme Court finds HMRC entitled to tax under dispute where taxpayer left it to HMRC to calculate the tax – OUT-LAW.com

Posted November 11th, 2013 in appeals, economic loss, HM Revenue & Customs, news, Supreme Court, tax avoidance, taxation by michael

“A taxpayer must perform a calculation of the amount of tax due itself, rather than leave that calculation to HM Revenue and Customs (HMRC), in order to retain possession of funds under dispute, the Supreme Court has ruled.”

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OUT-LAW.com, 8th November 2013

Source: www.out-law.com

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Tax avoiders don’t have human rights – Philippa Whipple QC – UK Human Rights Blog

Posted November 7th, 2013 in appeals, disclosure, HM Revenue & Customs, human rights, news, tax avoidance by tracey

“R (on the application of Ingenious Media Holdings plc and Patrick McKenna v Her Majesty’s Revenue and Customs [2013] EWHC 3258 (Admin).
Sales J has rejected an application for judicial review by Ingenious Media Holdings plc and Patrick McKenna, who complained that senior officials in HMRC had identified them in ‘off the record’ briefings.”

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UK Human Rights Blog, 6th November 2013

Source: www.ukhumanrightsblog.com

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DV3 RS Ltd Partnership v Revenue and Customs Comrs – WLR Daily

Posted July 31st, 2013 in law reports, leases, partnerships, sale of land, stamp duty, tax avoidance by sally

DV3 RS Ltd Partnership v Revenue and Customs Comrs [2013] EWCA Civ 907; [2013] WLR (D) 311

“Where a vendor contracted to sell a chargeable interest to a company and the company made a sub-sale to a partnership (of which the company was a member), both contracts being completed at the same time with sequential transfers, the partnership, as taxpayer, acquired a chargeable interest liable to stamp duty land tax.”

WLR Daily, 25th July 2013

Source: www.iclr.co.uk

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Court of Appeal overturns tax tribunals’ findings in favour of SDLT avoidance scheme – OUT-LAW.com

Posted July 31st, 2013 in appeals, leases, news, partnerships, sale of land, stamp duty, tax avoidance, tribunals by sally

“The Court of Appeal has ruled against a stamp duty land tax (SDLT) avoidance scheme involving the interaction of the sub-sale and partnership rules, overturning earlier decisions by the First Tier and Upper Tax Tribunals.”

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OUT-LAW.com, 30th July 2013

Source: www.out-law.com

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