Court of Appeal: HMRC did not act unfairly in withdrawing guidance only for taxpayers with ‘open’ affairs – OUT-LAW.com

‘HM Revenue & Customs (HMRC) could withdraw previous guidance in relation to losses arising from the exercise of share options, even though other taxpayers whose affairs could not be reopened had benefited from the treatment, the Court of Appeal has ruled.’

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OUT-LAW.com, 28th July 2017

Source: www.out-law.com

Five new laws coming in today and how they will affect you – The Independent

Posted April 7th, 2016 in banking, capital gains tax, dogs, interest, news, pensions, visas by sally

‘Following the introduction of the National Living Wage and unwelcome increases to council tax, today sees another wave of new laws come into force in the UK.’

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The Independent, 6th April 2016

Source: www.independent.co.uk

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

No tax for Castle Howard painting as judge rules it is ‘plant or machinery’ – Daily Telegraph

Posted March 19th, 2013 in artistic works, capital gains tax, news, taxation by tracey

“The custodians of North Yorkshire stately home Castle Howard have won a tribunal
battle to avoid paying tax on the £9.4m sale of a painting, after a judge ruled
it a piece of ‘plant or machinery’ integral to attracting visitors.”

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Daily Telegraph, 19th March 2013

Source: www.telegraph.co.uk

Family Law Week’s Budget Briefing 2012 – Family Law Week

Posted March 22nd, 2012 in budgets, capital gains tax, corporation tax, news, tax avoidance, taxation by sally

“Steve Crompton & David Kitson, Tax Directors at RSM Tenon, review the Chancellor’s 2012 Budget announcements.”

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Family Law Week, 21st March 2012

Source: www.familylawweek.com

Revenue and Customs Commissioners v Cotter – WLR daily

Posted February 10th, 2012 in capital gains tax, income tax, law reports, tax avoidance by tracey

Revenue and Customs Commissioners v Cotter: [2012] EWCA Civ 81;  [2012] WLR (D)  25

“Where the revenue decided to challenge matters contained in a self assessment tax return in response to the particulars sought by the return, it should use either the procedure in section 9A of the Taxes Management Act 1970 or seek to make a correction to the return under section 9ZB, if applicable, therefore entitling the taxpayer to a right of appeal to the First Tier Tribunal. The court did not have jurisdiction to determine in collection proceedings whether a taxpayer was entitled to include in his tax return a claim for relief and so rely on it as a defence to the claim for immediate payment.”

WLR Daily, 8th February 2012

Source: www.iclr.co.uk

Revenue and Customs Commissioners v Cotter – WLR Daily

Posted April 20th, 2011 in abuse of process, capital gains tax, income tax, jurisdiction, law reports by sally

Revenue and Customs Commissioners v Cotter [2011] EWHC 896 (Ch); [2011] WLR (D) 137

“The court had jurisdiction to determine in collection proceedings whether a taxpayer was entitled to include in his tax return a claim for relief and so rely on it as a defence to the claim for immediate payment.”

WLR Daily, 14th April 2011

Source: www.iclr.co.uk

Please note that once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Revenue and Customs Commissioners v Smallwood and another – WLR Daily

Posted July 12th, 2010 in appeals, capital gains tax, domicile, double taxation, law reports by sally

Revenue and Customs Commissioners v Smallwood and another [2010] EWCA Civ 778; [2010] WLR (D) 177

“In assessing tax liability in a capital gains case raising potential double taxation relief, care was required in construing ‘residence’.”

WLR Daily, 9th July 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Kellogg Brown & Root Holdings (UK) Ltd v Revenue and Customs Commissioners – WLR Daily

Posted March 1st, 2010 in appeals, capital gains tax, company law, law reports, shareholders by sally

Kellogg Brown & Root Holdings (UK) Ltd v Revenue and Customs Commissioners [2010] EWCA Civ 118; [2010] WLR (D) 53

“For the purposes of capital gains tax in relation to associated companies, under s 286(5)(b) of the Taxation of Chargeable Gains Act 1992, a ‘group’ did not require any common purpose but was to be given its ordinary meaning of ‘collection’. Where shares were disposed of by the taxpayer to another company and the ultimate parent companies of each were ‘connected persons’ then the taxpayer and the acquiring company were sufficiently connected within s 18(3) of the 1992 Act for the capital loss on the disposal to be deductible only from chargeable gains arising on other disposals between the same two companies.”

WLR Daily, 25th February 2010

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Smallwood and others v Revenue and Customs Comrs – WLR Daily

Posted April 14th, 2009 in capital gains tax, double taxation, law reports by sally

Smallwood and others v Revenue and Customs Comrs [2009] EWHC 777 (Ch); [2009] WLR(D) 137

“Art 13(4) of the Schedule to the Double Taxation Relief (Taxes on Income) (Mauritius) Order 1981 (SI 1981/1121) gave the right to tax capital gains to the state in which there was residence at the time of the disposition.”

WLR Daily, 9th April 2009

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

Johnston Publishing (North) Ltd v Revenue and Customs Commissioners – WLR Daily

Posted July 25th, 2008 in capital gains tax, company law, law reports by sally

Johnston Publishing (North) Ltd v Revenue and Customs Commissioners [2008] EWCA Civ 858; [2008] WLR (D) 253

“In order for companies to qualify for exemption from a taxable charge under s 179 of the Taxation of Chargeable Gains Act 1992, they had to be ‘associated’ not only at the time of leaving the group but also at the time of the relevant intra-group transfer. On the proper construction of the section, the use of the word ‘associated’ on its second appearance was not redundant but required the court to consider whether that word was intended to serve some purpose and was not redundant.”

WLR Daily, 24th July 2008

Source: www.lawreports.co.uk

Please note once a case has been fully reported in one of the ICLR series the corresponding WLR Daily summary is removed.

MPs call for tax reform rethink – BBC News

Posted November 26th, 2007 in capital gains tax, news by sally

“The government should think again about its controversial plan to reform capital gains tax, a cross-party committee of MPs has urged.”

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BBC News, 26th November 2007

Source: www.bbc.co.uk