Court of Appeal decision leaves control vacuum for group relief – OUT-LAW.com

Posted February 28th, 2019 in corporation tax, news, receivers, statutory interpretation by tracey

‘Two companies have lost their claim for group relief where the surrendering company went into receivership. The Court of Appeal said that when the receivers were appointed the shareholders of the surrendering company lost control, which meant that group relief was denied.’

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OUT-LAW.com, 27th February 2019

Source: www.out-law.com

Taxpayers have no right to attend hearing to approve HMRC information notices – OUT-LAW.com

‘UK taxpayers and third parties have no right to attend a tax tribunal hearing to consider the issue of notices by HM Revenue & Customs (HMRC) requiring the provision of information relevant to tax enquiries, the first-tier tax tribunal has decided.’

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OUT-LAW.com, 12th December 2018

Source: www.out-law.com

Statutory interest paid by a company in administration must have tax deducted, says Court of Appeal – OUT-LAW.com

Posted January 8th, 2018 in appeals, banking, corporation tax, insolvency, interest, news, taxation by sally

‘Statutory interest paid by a company in administration on a surplus is ‘yearly interest’ for UK tax purposes and must therefore be paid after deduction of basic rate tax, the Court of Appeal has decided, overturning a previous decision of the High Court.’

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OUT-LAW.com, 5th January 2018

Source: www.out-law.com

Legal challenge against remote gambling tax in the UK falters before EU court – OUT-LAW.com

Posted June 15th, 2017 in corporation tax, EC law, gambling, Gibraltar, news by sally

‘A legal challenge brought against changes to the way remote gambling operations are taxed in the UK has faltered before the EU’s highest court.’

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OUT-LAW.com, 13th June 2017

Source: www.out-law.com

Corporate interest restriction cut from pre-election UK Finance Bill – OUT-LAW.com

Posted April 27th, 2017 in amendments, bills, corporation tax, elections, interest, news by sally

‘The legislation to introduce restrictions on corporation tax deductions for interest payments will not be included in the UK Finance Bill that will become law before the general election. The government tabled amendments to the bill withdrawing most of its provisions before it went through the remaining House of Commons stages on 25 April.’

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OUT-LAW.com, 27th April 2017

Source: www.out-law.com

Shop Direct Group (Appellant) v Commissioners for Her Majesty’s Revenue and Customs (Respondent) – Supreme Court

Posted February 18th, 2016 in appeals, corporation tax, law reports, repayment, Supreme Court, VAT by sally

Shop Direct Group (Appellant) v Commissioners for Her Majesty’s Revenue and Customs (Respondent) [2016] UKSC 7 (YouTube)

Supreme Court, 17th February 2016

Source: www.youtube.com/user/UKSupremeCourt

Shop Direct VAT repayments were subject to corporation tax, Supreme Court rules – OUT-LAW.com

Posted February 18th, 2016 in appeals, corporation tax, news, repayment, Supreme Court, VAT by sally

‘Catalogue company Shop Direct must pay corporation tax on a £125 million repayment of VAT overpaid by companies in the group that no longer trade, the Supreme Court has confirmed.’

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OUT-LAW.com, 18th February 2016

Source: www.out-law.com

Tribunal allows company’s appeal and confirms that the four-year time limit does not apply to corporation tax self-assessment returns – RPC Tax Take

Posted January 13th, 2016 in corporation tax, news, time limits by sally

‘In Bloomsbury Verlag GmbH v HMRC [2015] UKFTT 660 (TC),the First-tier Tribunal (Tax and Chancery) (FTT) has held that the four-year time limit does not apply to corporation tax self-assessment returns and that trading losses can be carried forward even though they were not included in a return.’

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RPC Tax Take, 8th January 2016

Source: www.rpc.co.uk

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

‘Richard Holme, Chartered Accountant of Creaseys, 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, 8th July 2015

Source: www.familylawweek.co.uk

Corporation Tax (Northern Ireland) Act 2015 – legislation.gov.uk

Posted April 1st, 2015 in corporation tax, legislation, Northern Ireland by sally

Corporation Tax (Northern Ireland) Act 2015 published

Full text of Act

Source: www.legislation.gov.uk

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

Danny Alexander calls for corporate tax evasion crackdown – BBC News

Posted February 23rd, 2015 in codes of practice, corporation tax, fines, news, prosecutions, tax evasion by sally

‘Companies that fail to prevent tax evasion could face penalties as part of plans announced by Danny Alexander.’

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BBC News, 22nd February 2015

Source: www.bbc.co.uk

Trading “with a view to the making of a profit” – an objective or subjective test? – RPC Commercial Disputes Blog

Posted August 7th, 2014 in appeals, corporation tax, HM Revenue & Customs, news by sally

‘In Beacon Estates (Chepstow) Ltd v HMRC [2014] UKFTT 686 (TC), the First-tier Tribunal (Tax Chamber) (‘FTT’) allowed the taxpayer’s appeal, holding that ‘with a view to’ in section 393A(3), Income and Corporation Taxes Act 1988 (‘ICTA’)[1] imports an objective test when considering relief for trading losses.’

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RPC Commercial Disputes Blog, 6th August 2014

Source: www.rpc.co.uk

Marks & Spencer plc v Revenue and Customs Commissioners (No 2) – WLR Daily

Posted February 28th, 2014 in corporation tax, EC law, insolvency, law reports, subsidiary companies by sally

Marks & Spencer plc v Revenue and Customs Commissioners (No 2) [2014] UKSC 11; [2014] WLR (D) 90

‘A company was entitled to make successive claims to cross-border group relief against corporation tax in relation to the same loss incurred in the same accounting period by a European subsidiary which had gone into liquidation and then to withdraw any earlier claims in respect of the same surrendered loss which did not meet the subsequent judicially determined test, subject to the claim ultimately relied upon not being statute-barred.’

WLR Daily, 19th February 2014

Source: www.iclr.co.uk

Commissioners for Her Majesty’s Revenue and Customs (Appellant) v Marks and Spencer plc (Respondent); Commissioners for Her Majesty’s Revenue and Customs (Respondent) v Marks and Spencer plc (Appellant) – Supreme Court

Posted February 21st, 2014 in corporation tax, EC law, law reports, subsidiary companies by sally

Commissioners for Her Majesty’s Revenue and Customs (Appellant) v Marks and Spencer plc (Respondent); Commissioners for Her Majesty’s Revenue and Customs (Respondent) v Marks and Spencer plc (Appellant) [2014] UKSC 11 & [2013] UKSC 30 (YouTube)

Supreme Court, 19th February 2014

Source: www.youtube.com/user/UKSupremeCourt

Prudential Assurance Co Ltd v Revenue and Customs Comrs – WLR Daily

Posted October 30th, 2013 in corporation tax, EC law, interest, law reports, restitution, tax credits by sally

Prudential Assurance Co Ltd v Revenue and Customs Comrs [2013] EWHC 3249 (Ch); [2013] WLR (D) 411

“It was within the scope of conforming interpretation to construe section 790 of the Income and Corporation Taxes Act 1988 as providing for the grant of a tax credit for foreign dividends to the extent necessary to secure compliance with European Union (‘EU’) law.”

WLR Daily, 24th October 2013

Source: www.iclr.co.uk

Gambling operators face losing their licence for failure to abide by new ‘place of consumption’ tax regime – OUT-LAW.com

Posted August 21st, 2013 in advertising, corporation tax, gambling, internet, licensing, news, strict liability by sally

“Gambling operators could lose their licence to advertise and trade in Great Britain if they fail to comply with a new tax regime where liability for UK tax is based on the location of the customer rather than the gambling operator.”

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OUT-LAW.com, 20th August 2013

Source: www.out-law.com

HMRC ‘names and shames’ more deliberate tax defaulters – OUT-LAW.com

Posted May 15th, 2013 in corporation tax, fines, news, tax evasion by sally

“Details of fines included on a second public list of tax defaulters shows that HM Revenue and Customs (HMRC) is ‘cracking down harder than ever before’ on businesses and individuals that deliberately underpay tax, an expert has said.”

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OUT-LAW.com, 15th May 2013

Source: www.out-law.com

Professional fines may be tax deductable, tribunal finds – OUT-LAW.com

Posted October 12th, 2012 in corporation tax, fines, news, penalties by sally

“The McLaren racing team is entitled to claim a corporation tax reduction in respect of a £32 million fine levied by the motor racing governing body because the fine was not a criminal penalty imposed by statute, a tribunal has held.”

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OUT-LAW.com, 11th October 2012

Source: www.out-law.com

BBC’s chief finance officer sues the Daily Star – The Guardian

Posted September 5th, 2012 in corporation tax, defamation, injunctions, news, tax avoidance by sally

“The BBC’s chief finance officer, Zarin Patel, is suing the Daily Star for libel over two stories about the tax affairs of corporation staff.”

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The Guardian, 5th September 2012

Source: www.guardian.co.uk