Precise

Latest News

Tax Investigations - Judge Authorises Disclosure of Credit Card Bills

To what extent are the tax authorities entitled to delve into what would otherwise be your private financial information? The High Court tackled that issue in authorising disclosure of a wealthy businessman's credit card statements to HM Revenue and...

Wealthy Online Investor in Bitcoin Futures a 'Consumer'

Can someone who trades in cryptocurrency futures or other sophisticated products via an online platform be viewed as a consumer? In a crucial decision for the investment sector, the High Court has answered that question in the affirmative . The case...

CGT Loss Occurs When Payment Made, Not Before

When a personal guarantee has to be given in order to give a lender the security it needs, the guarantor hopes that the guarantee will never be called in. However, when it is, the loss suffered by the guarantor will normally qualify as a loss for Capital...

Court Allows Trust Error to Be Corrected

Mistakes do happen, and in some circumstances they can be rectified by the courts. In a recent case, the wife of a man who died in 2015 went to court after a mistake in dealing with a trust created under his will left a substantial potential Inheritance Tax...

Appealing Against a Tax Bill? Make Sure You Get a Fair Hearing!

If you dispute a tax bill, you are entitled to a fair hearing of your appeal and specialist advice will ensure you get just that. In a case that demonstrates this point, a couple were relieved of a substantial Capital Gains Tax (CGT) demand after...

Share Sale Tax Avoidance Scheme Fails the Reality Test

Judges interpret tax statutes in the real world and are experienced at looking beyond the detailed provisions of intricate transactions to discern their actual purpose. In a case exactly on point, the Court of Appeal found that Capital Gains Tax (CGT) was...

Court Denies Widow the Right to Challenge Trust Arrangements

Trusts have been gradually falling out of favour, according to a recent report. It is thought that the fall of some 4 per cent in trusts submitting tax returns last year (and 30 per cent since 2003/2004) is due to both a lack of understanding of trusts and...

Is IHT Simplification On the Way?

More than 550,000 people die annually in the UK and half of those deaths require the completion of Inheritance Tax (IHT) forms, which are not straightforward and can be a daunting burden at a difficult time for families. However, only 5 per cent of estates...

Overcautious Approach Means Compensation for Pension Scheme Member

With significant losses being reported in 'pension transfer scams', it is no surprise that when the administrators of a pension scheme receive a request to transfer a pension to a new scheme, they are expected to conduct an appropriate due diligence process....

Quality of Occupation Determines Tax-Free Status of Residential Property Gain

The supposition that residential properties are exempt from Capital Gains Tax (CGT) is a common, but incorrect, one. You would think, for example, that if a person only owns one property, sleeps there quite often, has post sent there and tells the council...
  • Page 1 of 10