Law and regulation

Tax / Intercompany agreements and transfer pricing

HMRC’s greater focus on transfer pricing is testing intercompany agreements to breaking point, explains Paul Sutton, founder of LCN Legal 

Tax / Tax investigations: getting out of the rut

The stand-off between HMRC and taxpayers is only exacerbated when it comes to tax investigations which drag on for years, but partial closure notices (PCNs) at least offer some expectation of an outcome, albeit not final. David Lewis, partner at Mazars, explains

Tax / Sleight: Criminal Finances Act fails to stop tax evasion

The corporate offence of failure to prevent the facilitation of tax evasion under the Criminal Finances Act 2017 has not been as effective as HMRC originally expected. David Sleight, criminal litigation partner at Kingsley Napley, asks why there have been so few HMRC investigations two years on

Tax / Real estate gains and tax liability via offshore CIVs

Changes to tax rules will see UK real estate gains of offshore collective investment vehicles (CIVs) face new tax charges, but there are some exemptions so it is not all bad news for investors. Mark Cawthron LLB CTA explains 

Tax / Church wins appeal on zero VAT rating for annex

A church in Bournemouth has won its appeal that its newly built annex to its main building should be zero-rated for VAT, after a First Tier Tribunal (FTT) found HMRC’s decision to seek VAT payments was based on largely out of date plans for the development

Tax / Legal updates: October 2019

In this month’s legal updates, Sophie Brookes, partner at Gateley plc, considers failed tax claim in Stobart, whether interim accounts are acceptable for dividend distribution in Burnden Holdings and directors’ duties during a management buyout

Tax / Tax updates: October 2019

In this month’s tax updates, three BBC presenters lose IR35 case, Apple tax demand ‘defies reality’, Glencore wins £51m transfer pricing appeal, HMRC does not understand small business, 120,000 miss MTD deadline, double NIC Brexit warning, and NHS pension tax consultation

Tax / Tribunals force rethink on Scottish land tax penalties rules

An Upper Tribunal for Scotland ruling has highlighted administrative issues over the issue of penalty notices for Land and Buildings Transaction Tax late payments, but Revenue Scotland vows to continue charging daily penalties

Tax / Collecting tax from insolvent businesses

Meg Wilson CTA examines the proposals to change the rules to allow HMRC to recover more money from insolvent businesses, including reverting to secondary preferential creditor status

Tax / First guidance on IR35 private sector off-payroll rules

HMRC has published its first detailed guidance on how new rules for off-payroll workers (IR35) will operate in the private sector when the responsibility for determining individual’s employment status moves to employers in April next year, reports Pat Sweet

Tax / Four Quick Fixes to VAT on intra-EU movement of goods

Businesses need to prepare for the EU’s Four Quick Fixes, the latest attempt to refresh the VAT system for intra-EU movement of goods, effective from January 2020. Rob Janering, associate director at Accordance explains the impact on supplies when call-off stock arrangements and chain transactions take place

Tax / Capital allowances under structures and buildings allowance (SBA)

The newly launched structures and buildings allowance (SBA) gives a 2% flat rate capital allowance tax break on expenditure incurred after 28 October 2018. Zigurds Kronbergs, tax writer at Croner-i, explains 

Tax / UK continues to refuse to cut VAT on e-books

The UK continues to charge VAT on e-books, audio books and online newspapers despite changes to EU VAT rules introduced last year and since adopted by a growing number of member states

Tax / Government gives £1.1bn tax relief to film, TV and creative industries

A total of £1.1bn was paid out in creative industries tax reliefs in 2018-19, a 22% increase on the previous year’s figure of £900m 

Tax / HMRC loses £1m VAT case against Scottish farmer

HMRC has lost a £1m VAT case on appeal at the Supreme Court against a Scottish farmer over the purchase of farm subsidy entitlements
Subscribe