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High-Interest Loans Can Be Vulnerable to Challenge - High Court Ruling

Borrowers who take out loans at high rates of interest with their eyes wide open may have only themselves to blame. As a High Court case showed , however, such loans may be vulnerable to arguments that they amount to a penalty or are the product of an...

Woman Denied Non-Resident Status Faces Seven-Figure Tax Demand

HM Revenue and Customs (HMRC) adopts a tough approach when considering whether a person who claims non-resident tax status has spent more than the permitted number of days in the UK. It certainly brooked no compromise in the case of a woman who ended up with...

Online Traders are Not Beneath the Tax Authorities' Radar

Some people who trade online do so in the fond hope that the income they generate will fall beneath the tax authorities' radar. A tax tribunal ruling that left one such trader on the verge of bankruptcy showed how very wrong they are. On his relevant tax...

Stamp Duty Avoidance Scheme Goes Pear Shaped - A Cautionary Tale

Tax avoidance schemes are not always effective and can have serious unforeseen consequences. In a telling case on point, a man was required to pay the entirety of the Stamp Duty Land Tax (SDLT) due on a seven-figure property transaction, a bill that he would...

Even Acts of Generosity Should Be Properly Documented - Cautionary Tale

Even acts of generosity can lead to litigation if the basis for them is not professionally documented. That was sadly so in the case of a businessman who stepped forward to rescue close family friends from the threat of homelessness. A couple with five...

Religious Leader's Employment Contract 'Was Illegally Performed'

Those who seek the protection of the law with metaphorical dirty hands are likely to receive short shrift. An Employment Tribunal (ET) powerfully made that point in the case of a religious leader who had engaged in tax evasion. The man launched...

Tax Residency - Australian Entrepreneur Challenges Million-Pound CGT Bill

The belief that you cease to be a UK resident for tax purposes simply by staying out of the country for a certain number of days is a common fallacy. As a TV personality, entrepreneur and property investor found out to his cost, the legal test is very much...

Need Help with Your Tax Affairs? Choose Your Advisers Carefully

Many people who have little understanding of the tax system sensibly seek help from those with greater expertise. However, a case that exposed an apparent loophole in HM Revenue and Customs' (HMRC's) systems showed how important it is to choose your advisers...

Can Managing Your Personal Share Portfolio be a Trade for Tax Purposes?

With widely differing degrees of success, many enthusiastic investors buy and sell shares on their own account in the hope of boosting their incomes – but can such activities be viewed as a 'trade' for tax purposes? The First-tier Tribunal (FTT)...

Domicile - Tax Tribunal Delves Back into a Century of Family History

Discerning where an individual is domiciled for tax purposes can involve delving far back into his or her family history. In a case on point, a tax tribunal's inquiries began with the birth of a wealthy businessman's father in Austria at the end of the First...
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