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High Court Grants Judgment for Victim of Bitcoin Fraud

Those who fall victim to anonymous fraudsters may think there is nothing that can be done once their money has disappeared, but the courts have powers at their disposal which may assist. In a recent case involving bitcoin fraud , the High Court granted a...

Late Appeal Against Tax Penalties Rejected

It is incumbent on taxpayers to make sure they fully comply with their obligations to file returns and pay any tax due. The point was illustrated by a recent case in which a taxpayer whose return had not been received by HM Revenue and Customs (HMRC) failed...

Share Rounding Error Does Not Prevent CGT Relief

There are often very specific rules that must be complied with in order to claim tax reliefs, but if a small mistake arises, the courts may be able to provide assistance. In a recent case, the First-tier Tribunal (FTT) found that an investor was entitled to...

Company Owner's Negligible Value Claim Unsuccessful

When an asset falls in value to the point that it is almost worthless, it may be possible to make a negligible value claim under Section 24 of the Taxation of Chargeable Gains Act 1992 . The asset will then be treated as if it had been sold and immediately...

Claim for SDLT Relief on Annex Unsuccessful

When buying a property consisting of more than one residence, it may be possible to claim multiple dwellings relief (MDR) against Stamp Duty Land Tax (SDLT). However, there are certain conditions that must be met for an MDR claim to succeed, as a recent case...

Couples Who Keep Separate Finances May Still Need to Discuss Tax Affairs

Even in long-term or married relationships, couples very often operate separate bank accounts and keep their personal finances private from one another. However, as a case concerning the High Income Child Benefit Charge (HICBC) showed , such confidentiality...

Mis-selling of Financial Products - Supreme Court Upholds PPI Claim

If you have been mis-sold a financial product, any delay in seeking legal advice may jeopardise your right to compensation – but what if facts on which you might found your case have been deliberately concealed from you? The Supreme Court answered...

Relationship Come to an End? Do You Understand the Tax Implications?

The end of a relationship will often have important tax implications which might only be apparent to a trained professional. That was certainly so in the case of a woman who, following the collapse of her marriage, was saddled with a substantial Capital...

How Good a Guide is an AIM Listing to a Share's Open Market Value?

Most investors would agree that the price at which shares are listed on an accredited investment exchange is as reliable a guide as any to their open market value. A tax dispute concerning a gift of shares to charity , however, showed that such an...

Businessman Reaps Whirlwind After Years of Inattention to His Tax Affairs

Those whose tax affairs are allowed to fall into disarray must live in permanent fear that HM Revenue and Customs (HMRC) will in due course descend upon them. Such anxiety proved well justified in the case of a businessman who was on the receiving end of...
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