Category: taxation

Lloyds TSB Foundation for Scotland v Lloyds Banking Group plc – WLR Daily

Posted January 24th, 2013 in banking, charities, contracts, covenants, law reports, Supreme Court, taxation by sally

Lloyds TSB Foundation for Scotland v Lloyds Banking Group plc [2013] UKSC 3; [2013] WLR (D) 19

“In construing a contractual provision, where there had been an unforeseeable and fundamental change in the legal context since the execution of the contract, the proper approach was to adopt a meaning which best gave effect to the parties’ original intentions and purposes. Where, therefore, a deed executed in 1997 provided for payment to be made by a banking group to a charitable foundation by reference to the group’s pre-tax profit or loss shown in the audited accounts, and a change in accounting practice subsequently required the group consolidated income statement to include, as a profit, a sum representing an unrealised gain on acquisition, the inclusion of such a sum was to be ignored for the purposes of calculating the amount payable to the foundation under the deed.”

WLR Daily, 23rd January 2013

Source: www.iclr.co.uk

R (on the application of Prudential plc and another) (Appellants) v Special Commissioner of Income Tax and another (Respondents) – Supreme Court

Posted January 23rd, 2013 in accountants, financial advice, law reports, legal profession, privilege, taxation by sally

R (on the application of Prudential plc and another) (Appellants) v Special Commissioner of Income Tax and another (Respondents) [2013] UKSC 1 | UKSC 2010/0215 (YouTube)

Supreme Court, 23rd January 2013

Source: www.youtube.com/user/UKSupremeCourt

Blackstone’s Pannick fails to persuade Supreme Court to extend privilege to accountants – The Lawyer

Posted January 23rd, 2013 in accountants, financial advice, legal profession, news, privilege, taxation by sally

“The Supreme Court has refused to extend legal privilege to accountants offering tax advice.”

Full story

The Lawyer, 23rd January 2013

Source: www.thelawyer.com

Small Charitable Donations Act 2012 – legislation.gov.uk

Posted December 21st, 2012 in charities, legislation, taxation by tracey

Full text of Act

Source: www.legislation.gov.uk

Introduction of tax general anti abuse rule (GAAR) delayed for several months, says Treasury – OUT-LAW.com

Posted December 11th, 2012 in bills, consultations, legislation, news, taxation by sally

“The general anti abuse rule (GAAR) will come into force from royal assent to the Finance Bill 2013 and not from 1 April 2013 as originally proposed, according to draft legislation for the Finance Bill 2013 published today.”

Full story

OUT-LAW.com, 11th December 2012

Source: www.out-law.com

Regina (ToTel Ltd) v First-tier Tribunal (Tax Chamber) and another – WLR Daily

Posted November 2nd, 2012 in amendments, appeals, constitutional law, judicial review, law reports, taxation, tribunals, VAT by sally

Regina (ToTel Ltd) v First-tier Tribunal (Tax Chamber) and another [2012] EWCA Civ 1401; [2012] WLR (D) 303

“A taxpayer was entitled to appeal from the First-tier Tribunal to the Upper Tribunal against a decision that it would not suffer hardship if required to pay assessed value added tax before an appeal against the assessment could be heard. The right of appeal against hardship decisions had not been abolished by section 84(3C) of the Value Added Tax Act 1994 as the insertion of section 84(3C) by paragraph 221(5) of Schedule 1 to the Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 was ultra vires section 124 of the Finance Act 2008.”

WLR Daily, 31st October 2012

Source: www.iclr.co.uk

No removal of right of appeal without clear and express wording – UK Human Rights Blog

Posted November 2nd, 2012 in amendments, appeals, constitutional law, judicial review, news, taxation, tribunals, VAT by sally

“Tax litigation is not the most obvious hunting ground for human rights points but if claimants feel sufficiently pinched by what they perceive as unfair rules, there is nothing to stop them appealing to the courts’ scrutiny of the lawfulness of those rules.”

Full story

UK Human Rights Blog, 1st November 2012

Source: www.ukhumanrightsblog.com

CIL: What Price Planning (or, How to Work & Work With the Tax System)? – Thirty Nine Essex Street

Posted October 23rd, 2012 in news, planning, taxation by sally

“In 1947, the Labour Government nationalized land development value. The outgoing Labour Government nationalized development hope value through its CIL Regulations which came into force in April 2010 just before its May defeat.”

Full story (PDF)

Thirty Nine Essex Street, October 2012

Source: www.39essex.com

Subway loses legal challenge over VAT on hot food – The Lawyer

Posted October 11th, 2012 in appeals, food, news, taxation, VAT by sally

“Mr Justice Arnold has thrown out an appeal bid by a franchisee of sandwich chain Subway to challenge HM Revenue & Customs’ VAT policy on hot food.”

Full story

The Lawyer, 11th October 2012

Source: www.thelawyer.com

Hawksford Trustees Jersey Ltd (as trustee of the Bald Eagle Trust) v Stella Global UK Ltd and another – WLR Daily

Posted July 23rd, 2012 in appeals, costs, insurance, law reports, taxation, trials by tracey

Hawksford Trustees Jersey Ltd (as trustee of the Bald Eagle Trust) v Stella Global UK Ltd and another: [2012] EWCA Civ 987;  [2012] WLR (D)  216

“References to ‘proceedings’ in section 29 of the Access to Justice Act 1999 should be interpreted so as to reflect the legislative purpose, namely to improve access to the courts for members of the public with meritorious claims. Where a claimant took out ATE insurance after having succeeded at trial he would be entitled if successful in the appeal to recover in costs that part of the ATE premium relating to the costs of the appeal, but it would be unfair to allow him to recover in costs that part of the premium which related to the costs of the trial.”

WLR Daily, 19th July 2012

Source: www.iclr.co.uk

High Court ruling on rates provides reassurance to landlords of empty properties, says expert – OUT-LAW.com

Posted July 2nd, 2012 in landlord & tenant, news, rates, taxation by sally

“A High Court ruling will reassure landlords seeking to avoid business rate charges on properties left lying empty, a property law expert has said.”

Full story

OUT-LAW.com, 29th June 2012

Source: www.out-law.com

UK Uncut allowed to challenge Goldman Sachs tax deal – The Guardian

Posted June 14th, 2012 in HM Revenue & Customs, illegality, judicial review, news, public interest, taxation by sally

“An anti tax-avoidance campaign group has won permission from the high courts to have a ‘sweetheart’ deal between HMRC and the banking giant Goldman Sachs judicially reviewed for its legality.”

Full story

The Guardian, 14th June 2012

Source: www.guardian.co.uk

Revenue and Customs Commissioners v Charman – WLR Daily

Posted May 31st, 2012 in disclosure, documents, law reports, public interest, taxation by tracey

Revenue and Customs Commissioners v Charman: [2012] EWHC 1448 (Fam);  [2012] WLR (D)  165

“As a general rule documents and other evidence produced in ancillary relief proceedings were not disclosable to third parties outside the proceedings save in an exceptional case and for very good reason, unless the court gave leave. The fact that evidence might be relevant or useful was not of itself a good enough reason to undermine that rule.”

WLR Daily, 29th May 2012

Source: www.iclr.co.uk

Taxpayers can rely on concession unless it is publicly withdrawn, rules court – OUT-LAW.com

Posted May 14th, 2012 in judicial review, news, taxation by sally

“Taxpayers are entitled to rely on a concession made by HM Revenue & Customs (HMRC) in a formal publication unless and until the concession is publicly withdrawn, according to the High Court.”

Full story

OUT-LAW.com, 11th May 2012

Source: www.out-law.com

Taxpayers can rely on concession unless it is publicly withdrawn, rules court – OUT-LAW.com

Posted May 11th, 2012 in HM Revenue & Customs, judicial review, news, taxation by tracey

“Taxpayers are entitled to rely on a concession made by HM Revenue & Customs (HMRC) in a formal publication unless and until the concession is publicly withdrawn, according to the High Court.”

Full story

OUT-LAW.com, 11th May 2012

Source: www.out-law.ocm

Activists given High Court go ahead to pursue HMRC over alleged ‘sweetheart’ deals – OUT-LAW.com

Posted April 19th, 2012 in HM Revenue & Customs, judicial review, news, taxation by tracey

“A group of activists is to raise a preliminary challenge to an alleged ‘sweetheart’ tax settlement between HM Revenue and Customs (HMRC) and investment bank Goldman Sachs, according to a national newspaper.”

Full story

OUT-LAW.com, 18th April 2012

Source: www.out-law.com

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.”

Full story

Family Law Week, 21st March 2012

Source: www.familylawweek.com

Squatting law reforms ‘could cost taxpayers £790m over five years’ – The Guardian

Posted March 19th, 2012 in benefits, budgets, legal aid, news, squatting, taxation by sally

“The cost of a new law to further criminalise squatting could run to almost 20 times official estimates, wiping out government legal aid budget savings, according to the findings of a newly published report.”

Full story

The Guardian, 16th March 2012

Source: www.guardian.co.uk

Article 1 of Protocol 1 of the European Convention on Human Rights: Taxation – 11 KBW

Posted March 6th, 2012 in human rights, news, taxation by sally

“Article 1 of Protocol 1 (A1P1) of the European Convention on Human Rights (‘the Convention’) states that:

Every natural or legal person is entitled to the peaceful enjoyment of his possessions. No one shall be deprived of his possessions except in the public interest and subject to the conditions provided for by law and by the general principles of international law. The preceding provisions shall not, however, in any way impair the right of a State to enforce such laws as it deems necessary to control the use of property in accordance with the general interest or to secure the payment of taxes or other contributions or penalties.”

Full story (PDF)

11 KBW, 2nd March 2012

Source: www.11kbw.com

HSBC faces potential £3bn UK tax bill if it loses HM Revenue and Customs case – The Guardian

Posted February 28th, 2012 in banking, news, taxation by tracey

“HSBC, the UK’s biggest bank, has admitted it faces a potential tax bill of up to up to $4.9bn (£3bn) if it loses an ongoing case with HM Revenue and Customs.”

Full story

The Guardian, 28th February 2012

Source: www.guardian.co.uk