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Taxpayers are personally responsible for filing their tax returns on time, and failing to do so can lead to stiff financial penalties. However, in one case, the First-tier Tribunal (FTT) ruled that a self-employed website developer whose accountants lost all...

There are special rules for people working in the UK on short-term secondment from employers based abroad. Many do not become taxpayers under the UK tax system. When one such person contacted HM Revenue and Customs (HMRC) to clarify his position, he was...

When valuing a property for Inheritance Tax (IHT) purposes, is it legitimate to take into account its potential for enlargement or improvement – so-called 'hope value'? In a guideline ruling, the Upper Tribunal (UT) has answered that question in the...

Financial pressure can easily lead the unwary into the arms of unscrupulous lenders. One High Court case, in which numerous borrowers found themselves in legal limbo , shows how unwise it is to enter into such transactions without professional advice. A...

Giving someone else power of attorney over your finances can be a useful means of ensuring that your affairs will be properly managed if you lose the capacity to do so yourself. However, one case in which a war veteran's money was plundered by a man he...

When a person is not capable of looking after themselves, the Secretary of State has the power to appoint someone else to do so. A recent court case shows that failing to do so in a balanced way can have adverse consequences and saw a judge condemn the...

Sometimes, what seem to be quite simple questions have to be decided in court. In a recent case, the issue was who owned the money in a joint bank account when one of the account holders died. Simple question or not, it was argued all the way to the Court...

If you rely on your accountant's advice regarding a tax issue, HM Revenue and Customs (HMRC) will now regard you as having taken 'reasonable care' to get things right and will not impose a penalty. On 14 February, HMRC issued new guidance relating to the...

About 900,000 UK citizens are long-term residents abroad, and it is no particular surprise that they may be less careful about managing their UK tax affairs than those who live in the UK. Many foreign residents retain UK properties, and when these are sold a...

The automatic penalties attaching to late filing of tax returns have long been an unpopular issue for taxpayers. The system involves fixed penalties for missing deadlines and these are rigorously applied. Filing a tax return online just seconds after the...