Stamp Duty Land Tax – Tanfield Chambers

Posted July 12th, 2016 in enfranchisement, housing, leases, news, stamp duty, taxation by sally

‘Does the 3% second home surcharge apply to statutory lease extensions and enfranchisement under the 1993 and 1967 Acts?’

Full story

Tanfield Chambers, 6th June 2016

Source: www.tanfieldchambers.co.uk

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Four sentenced to a total of 29 years for £98 million tax fraud scheme – Crown Prosecution Service

Posted June 30th, 2016 in conspiracy, fraud, press releases, sentencing, taxation by tracey

‘Four men have been sentenced to a total of 29 years imprisonment for their role in an elaborate tax fraud involving the funding of UK film productions. The defendants dishonestly claimed losses had been made so that income tax could be falsely claimed back from HM Revenue and Customs.’

Full press release

Crown Prosecution Service, 24th June 2016

Source: www.cps.gov.uk

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Government austerity policy a breach of international human rights, says UN report- The Independent

Posted June 30th, 2016 in human rights, immigration, news, reports, taxation, United Nations by tracey

‘The British Government’s austerity policies are a breach of international human rights, a new report by the UN has warned.’

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The Independent, 29th June 2016

Source: www.independent.co.uk

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How the other half live – Nearly Legal

Posted May 16th, 2016 in costs, news, taxation, tribunals by sally

‘Eclipse Film Partners v HMRC [2016] UKSC 24 has almost nothing to do with housing law. It was an appeal from the First Tier Tribunal (Tax Chamber), via the UT (TCC) and the CA. It wasn’t even about the substantive issues in the case, rather, it was about who should pay for the costs of the bundles (which cost over £215,000 to produce – more than 700 files in the trial bundle!).’

Full story

Nearly Legal, 12th May 2016

Source: www.nearlylegal.co.uk

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Pension changes deter would-be judges, says lord chief justice – The Guardian

Posted April 28th, 2016 in judiciary, news, pensions, select committees, taxation by tracey

‘George Osborne’s decision to impose a £10,000 tax-free cap on pension contributions is deterring well-paid lawyers from becoming judges, the lord chief justice has said.’

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The Guardian, 27th April 2016

Source: www.guardian.co.uk

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Regulator widens inquiry into UK firms’ links with Panama Papers tax havens – The Guardian

‘The City regulator has widened its inquiries into potential links between UK financial firms and the law company at the centre of the Panama Papers revelations, it said on Tuesday.’

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The Guardian, 26th April 2016

Source: www.guardian.co.uk

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Legal aid costs tax-payer less than a cup of coffee a week, reckons Bar Council – Legal Voice

Posted April 13th, 2016 in barristers, budgets, legal aid, news, taxation by sally

‘British justice costs the tax-payer less than €2 per week or ‘the price of one cup of coffee’, claimed the chairman of the Bar Council giving evidence to Labour’s legal aid commission. Chantal-Aimée Doerries took issue with the government’s oft-repeated assertion that the UK’s expenditure on legal aid per capita was ‘more generous than any other EU nation or comparable common law jurisdiction’. ‘Every justice system has different cost drivers and looking simply at legal aid in isolation we would suggest is unhelpful,’ she told the commission. ‘

Full story

Legal Voice, 12th April 2016

Source: www.legalvoice.org.uk

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Do you know the difference between tax evasion and tax avoidance? Take our quiz – The Independent

Posted April 13th, 2016 in news, tax avoidance, tax evasion, taxation by sally

‘Most of us have little choice about how we pay our tax. It simply comes out of our pay packets.

We don’t have a choice to evade or avoid tax even if we wanted to. Or do we?’
Full story

The Independent, 13th April 2016

Source: www.independent.co.uk

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Inheritance tax: a brief history of death duties – The Guardian

Posted April 12th, 2016 in housing, inheritance tax, news, succession, taxation by sally

‘Modern inheritance tax dates back to 1894 when the government introduced estate duty, a tax on the capital value of land, in a bid to raise money to pay off a £4m government deficit.’

Full story

The Guardian, 10th April 2016

Source: www.guardian.co.uk

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Inheritance tax should be scrapped – it’s unpopular and barely raises any money

Posted April 12th, 2016 in inheritance tax, news, tax avoidance, tax evasion, taxation by sally

‘Inheritance tax is a losing issue for the left and the right, despite raising a mere quarter of 1 per cent of GDP.’

Full story

The Independent, 11th April 2016

Source: www.independent.co.uk

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National Crime Agency demands quicker access to offshore firm records – The Guardian

‘The UK crime agency is demanding quicker access to the corporate records of secretive offshore companies in Britain’s overseas territories including the British Virgin Islands, Bermuda and the Cayman Islands.’

Full story

The Guardian, 10th April 2016

Source: www.guardian.co.uk

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Ten new laws that come into force in April 2016 – and how they affect you – The Independent

‘April 2016 is a month of big changes for people living and working in the UK. A number of new laws and policies are coming into force, affecting just about everyone from public sector workers to dog owners. Here’s what the new laws could mean for you.’

Full story

The Independent, 3rd April 2016

Source: www.independent.co.uk

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Hargreaves v Revenue and Customs Commissioners – WLR Daily

Posted March 30th, 2016 in appeals, HM Revenue & Customs, income tax, law reports, taxation by sally

Hargreaves v Revenue and Customs Commissioners [2016] EWCA Civ 174

‘The taxpayer stated on his self-assessment tax return that he was to be regarded as provisionally non-resident and not ordinarily resident in the United Kingdom with effect from a certain date. The revenue issued a discovery assessment against him under section 29 of the Taxes Management Act 1970 on the basis that he was not entitled to be treated as neither resident nor ordinarily resident in the United Kingdom for tax purposes as he had not taken sufficient steps to become non-resident. The taxpayer appealed, first, against the contention that he was not in fact resident or ordinarily resident here, and, second, against the discovery assessment, alleging that it had been made without the revenue having any power to do so and therefore was invalid. He applied for a direction that the second issue be heard as a preliminary issue on the basis that he wanted to be able to elect not to give evidence until the revenue had proved its case on the relevant conditions in section 29(3). The First-tier Tribunal dismissed the application, determining that he had no right to require the revenue to establish at a separate preliminary hearing against the discovery assessment the matters which under section 29 the revenue should establish to show that the discovery assessment was validly made and that while it had a discretion to order a separate preliminary trial, it would not do so. The Upper Tribunal dismissed the taxpayer’s appeal, concluding that the taxpayer did not have any relevant right to a preliminary hearing and that it was possible to have a single hearing even though there were different burdens of proof on the two issues in the present case and that it would need to hear evidence on the issues together.’

WLR Daily, 22nd March 2016

Source: www.iclr.co.uk

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Legal expenses insurance tax hike is yet another barrier to justice – The Bar Council

Posted March 21st, 2016 in barristers, budgets, costs, expenses, fees, insurance, press releases, taxation by tracey

‘The Bar Council has warned that the Chancellor of the Exchequer’s Budget announcement that the Insurance Premium Tax will go up yet again is another barrier for hardworking individuals and families seeking justice.’

Full press release

The Bar Council, 18th March 2016

Source: www.barcouncil.org.uk

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Family Law Week’s Budget Briefing. March 2016 – Family Law Week

Posted March 17th, 2016 in budgets, families, news, taxation by tracey

‘Matt Boggis of Creaseys Chartered Accountants and tax advisers explains the Budget changes of most relevance to family lawyers.’

Full story

Family Law Week, 16th March 2016

Source: www.familylawweek.co.uk

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High Court dismisses judicial review challenge to HMRC’s decision to restrict the availability of the Liechtenstein disclosure facility – RPC Tax Take

Posted February 22nd, 2016 in disclosure, HM Revenue & Customs, judicial review, news, taxation by sally

‘In R (on the application of City Shoes Wholesale Ltd) v Revenue & Customs Commissioners [2016] EWHC 107 (Admin), the High Court rejected an application for judicial review of HMRC’s refusal to grant the nine claimants, all of whom had operated employee benefit trusts (EBTs), the full benefits of the Liechtenstein disclosure facility (LDF). The court dismissed the claimants’ application for judicial review on the basis that their applications were never registered and therefore they had no legitimate expectation to receive full benefit of the LDF, and there had been no abuse of power or error of law by HMRC.’

Full story

RPC Tax Take, 18th February 2016

Source: www.rpc.co.uk

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Tribunal dismisses challenge to tax charge resulting from use of ‘pension liberation’ scheme – OUT-LAW.com

Posted January 14th, 2016 in income tax, news, pensions, taxation, tribunals by sally

‘Money advanced in the form of a “loan” to the member of a so-called ‘pension liberation’ scheme was a “payment” for the purposes of the tax rules, and therefore subject to a 40% income tax charge and additional surcharge, a tax tribunal has ruled.’

Full story

OUT-LAW.com, 13th January 2016

Source: www.out-law.com

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When is property added to a settlement “excluded property”? – New Square Chambers

Posted December 9th, 2015 in HM Revenue & Customs, inheritance tax, news, taxation by sally

‘The decision of Mann J. in Barclays Wealth Trustees (Jersey) Ltd and Michael Dreelan v HMRC [2015]EWHC 2878 (Ch) answers an important question regarding what is excluded property for purposes of the Inheritance Tax Act 1984 s.48(3). This provides that foreign situs property which is settled property is excluded property for IHT purposes unless the settlor was domiciled in the U.K. at the time the settlement was made. Suppose a settlement was made when the settlor was domiciled outside the U.K, he subsequently becomes domiciled in the U.K and then adds foreign property to the settlement. Is the added property excluded property? HMRC have always contended that it is not. It has been argued in leading textbooks that it is. Mann J. has decided that HMRC are right.’

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New Square Chambers, 1st December 2015

Source: www.newsquarechambers.co.uk

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Court of Appeal highlights ‘real prospect of success’ of accelerated payment notice judicial review – OUT-LAW.com

‘Investors in the Ingenious Media film partnership schemes have been granted the right to appeal the High Court’s dismissal of their challenge to HM Revenue and Customs (HMRC), which had required up-front payment of disputed tax.’

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OUT-LAW.com, 3rd December 2015

Source: www.out-law.com

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Legalising cannabis in the UK ‘would raise hundreds of millions’ – The Independent

Posted October 13th, 2015 in crime, criminal justice, drug offences, news, reports, taxation by tracey

‘Legalising cannabis would raise taxes worth hundreds of millions of pounds and produce large savings for the criminal justice system, a private analysis for the Treasury has concluded.’

Full story

The Independent, 13th October 2015

Source: www.independent.co.uk

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