Inheritance tax and the acceptance in lieu scheme – Mills & Reeve

Posted January 24th, 2024 in chambers articles, HM Revenue & Customs, inheritance tax, news, taxation by sally

‘A 500-year-old miniature Italian Renaissance bronze was recently donated to the Fitzwilliam Museum in Cambridge under the acceptance in lieu scheme – saving the family £10.5 million in inheritance tax. This unique donation is an excellent reminder of HMRC’s acceptance in lieu scheme and how beneficial it can be in inheritance tax mitigation.’

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Mills & Reeve, 24th January 2024

Source: www.mills-reeve.com

HMRC has not charged a single company over tax evasion under landmark legislation – The Guardian

Posted January 22nd, 2024 in corporation tax, enforcement, HM Revenue & Customs, news, tax evasion, taxation by tracey

‘HMRC has not charged a single company under landmark legislation passed six years ago to crack down on corporate tax evasion.’

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The Guardian, 20th January 2024

Source: www.theguardian.com

Judge defines Monster Munch in bizarre ruling on Walkers’ poppadoms – The Independent

Posted January 22nd, 2024 in appeals, food, news, taxation, VAT by tracey

‘A judge has ruled that Walkers’ poppadoms are crisps rather than the popular Indian food, as the company lost at a tax tribunal.’

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The Independent, 21st January 2024

Source: www.independent.co.uk

Lifetime allowance – abolished, but not quite! – Pensions Barrister

Posted January 11th, 2024 in budgets, news, pensions, taxation by sally

‘Even the most seasoned pensions tax expert will surely have found the period since the government’s announcement on pension tax in the Spring Budget of 15 March 2023 bewildering, as the number of hyperlinked documents in this article demonstrates.’

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Pensions Barrister, 11th January 2024

Source: www.pensionsbarrister.com

Woman who used nine ‘fabricated’ AI cases in court loses appeal – The Indepdendent

‘A woman who used nine “fabricated” ChatGPT cases to appeal against a penalty for capital gains tax has had her case rejected by a court.’

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The Independent, 14th December 2023

Source: www.independent.co.uk

Ruling indicates Upper Tribunal’s “narrow approach” towards windfarm capital allowances – OUT-LAW.com

Posted December 14th, 2023 in capital allowances, energy, news, statutory interpretation, taxation by sally

‘A ruling by the UK’s Upper Tribunal (UT) disallowing certain types of expenditure relating to windfarm projects from qualifying for plant and machinery tax allowances has indicated the tribunal’s “strict and narrow” interpretation of the provisions for qualifying expenditure.’

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OUT-LAW.com, 13th December 2023

Source: www.pinsentmasons.com

Litigant unwittingly put fake cases generated by AI before tribunal – Legal Futures

‘Nine authorities put before the First-tier Tribunal (FTT) by a litigant in person challenging a penalty from HM Revenue & Customs (HMRC) were fakes generated by an artificial intelligence (AI) system like ChatGPT, a judge has ruled.’

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Legal Futures, 7th December 2023

Source: www.legalfutures.co.uk

Court of Appeal backs taxpayer in share exchange anti-avoidance case – OUT-LAW.com

Posted November 10th, 2023 in appeals, HM Revenue & Customs, news, tax avoidance, taxation by tracey

‘The Court of Appeal in England has backed a taxpayer over its restructuring of a corporate transaction to facilitate tax savings on a share exchange scheme, confirming the earlier decisions of the tax tribunals.’

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OUT-LAW.com, 10th November 2023

Source: www.pinsentmasons.com

UK Mandatory Disclosure Rules (MDR) for cross-border tax avoidance arrangements – OUT-LAW.com

Posted October 16th, 2023 in brexit, disclosure, HM Revenue & Customs, news, tax avoidance, taxation, time limits by tracey

‘New UK rules requiring disclosure of cross-border tax avoidance arrangements have been introduced to replace DAC6, the EU’s mandatory disclosure regime. Under the new Mandatory Disclosure Rules (MDR), disclosure has been extended to include arrangements wholly outside the UK/EU.’

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OUT-LAW.com, 13th October 2023

Source: www.pinsentmasons.com

Court of Appeal: ongoing judicial review can be ‘reasonable excuse’ for late tax payment – OUT-LAW.com

Posted August 2nd, 2023 in appeals, delay, HM Revenue & Customs, judicial review, news, tax avoidance, taxation by sally

‘The existence of judicial review (JR) proceedings can, in the right circumstances, be a reasonable excuse for non-payment or late payment of UK tax, the Court of Appeal has confirmed.’

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OUT-LAW, 1st August 2023

Source: www.pinsentmasons.com

Ad watchdog takes action against tax repayment agents – The Independent

Posted May 31st, 2023 in advertising, HM Revenue & Customs, news, ombudsmen, taxation by sally

‘Ads for three tax agents have been banned for exaggerating refunds, being unclear about fees and failing to mention that clients were signing over rights to a cut of potential repayments from previous years.’

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The Independent, 30th May 2023

Source: www.independent.co.uk

High Court clarifies effect of change of law during ongoing group litigation orders – OUT-LAW.com

Posted May 17th, 2023 in class actions, HM Revenue & Customs, news, taxation, time limits by sally

‘A new ruling by the High Court in London has made clear that, in some circumstances, decisions in a test case might not apply to all claimants in a group litigation order (GLO).’

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OUT-LAW.com, 16th May 2023

Source: www.pinsentmasons.com

CA upholds dismissal of £40m claim against tax QC – Legal Futures

Posted May 2nd, 2023 in barristers, film industry, legal advice, negligence, news, taxation by tracey

‘The High Court was right to dismiss a £40m negligence claim against a leading tax barrister over advice he provided on three film financing schemes, the Court of Appeal has ruled.’

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Legal Futures, 2nd May 2023

Source: www.legalfutures.co.uk

Case Comment: Moulsdale t/a Moulsdale Properties v Commissioners for His Majesty’s Revenue and Customs – UKSC Blog

Posted April 19th, 2023 in appeals, HM Revenue & Customs, news, Supreme Court, tax avoidance, taxation, VAT by sally

‘In this post, Jack Prytherch, Of Counsel in the Tax team at CMS, comments on the Supreme Court’s decision in Moulsdale t/a Moulsdale Properties v Commissioners for His Majesty’s Revenue and Customs [2023] UKSC 12, which was handed down on 22 March 2023. The issue before the Supreme Court was broadly whether a sale of property by the appellant (“Moulsdale”) should be treated as exempt from VAT under the Value Added Tax Act 1994 (“VATA”), Sch 10.’

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UKSC Blog, 19th April 2023

Source: ukscblog.com

Steven Gee KC – British Tax Review – R. (on the application of Cobalt Data Centre 2 LLP) v HMRC: a Cobalt white elephant – Monckton Chambers

‘Section 298(1) of the Capital Allowances Act 2001 (CAA 2001) offered taxpayers Enterprise Zone allowances (EZAs) as an inducement to taking on the financial risks of newbuild industrial developments in disadvantaged areas, without a tenant. It extended their availability for a further 10 years after expiry of the 10-year life of an enterprise zone (EZ), provided that the qualifying “expenditure is incurred under a contract entered into within” the first 10 years (“the proviso”). According to the Court of Appeal1 changes made to a development, resulted in two building contracts with the claimed expenditure incurred under the second, being a “separate” contract

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Monckton Chambers, 22nd March 2023

Source: www.monckton.com

HMRC permitted to disclose taxpayer information to another taxpayer, court finds – OUT-LAW.com

Posted March 29th, 2023 in appeals, confidentiality, disclosure, HM Revenue & Customs, news, taxation, VAT by sally

‘The Court of Appeal in London has decided that HM Revenue and Customs (HMRC) can disclose confidential information about one taxpayer to another taxpayer in the context of a tax appeal.’

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OUT-LAW.com, 27th March 2023

Source: www.pinsentmasons.com

Gary Lineker wins appeal over £4.9m tax bill – BBC News

‘Sports presenter Gary Lineker has won his appeal against HMRC over a £4.9m tax bill.’

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BBC News, 28th March 2023

Source: www.bbc.co.uk

New Judgment: DCM (Optical Holdings) Ltd v Commissioners for His Majesty’s Revenue and Customs (Scotland) [2023] UKSC 7 – UKSC Blog

‘Under the Value Added Tax Act 1994 (the “VAT Act“), “newspapers” are “zero-rated”, meaning Value Added Tax (“VAT“) is not charged on them. The question in this case is whether, between 30 August 2010 – 4 December 2016 (the “relevant period“), zero-rating extended beyond print newspapers to digital editions of newspapers, such as editions for e-readers, tablets, smartphones and websites.’

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UKSC Blog, 22nd February 2023

Source: ukscblog.com

New Acts – legislation.gov.uk

Posted February 13th, 2023 in housing, legislation, mortgages, stamp duty, taxation by tracey

2023 c. 2 – Stamp Duty Land Tax (Temporary Relief) Act 2023

Source: www.legislation.gov.uk

Case Preview: Commissioners for His Majesty’s Revenue and Customs v Vermilion Holdings Limited – UKSC Blog

‘In this post, Jack Prytherch, Of Counsel in the Tax team at CMS, previews the decision awaited from the Supreme Court in Commissioners for His Majesty’s Revenue and Customs v Vermilion Holdings Limited. The appeal was heard by the Supreme Court on 7 February 2023.’

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UKSC Blog, 9th February 2023

Source: ukscblog.com