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So-called DIY builders who 'construct' their own homes can reclaim VAT incurred in doing so. As one case showed, however, there is a very great difference between the ordinary English usage of that word and its meaning in VAT legislation. The case concerned...
When seeking investment advice, it is vital to only use the services of authorised practitioners who are highly qualified and regulated by law. As a High Court case showed , it is otherwise all too easy to fall into a fraudster's clutches. A woman was...
A record amount of Inheritance Tax (IHT) is being recouped from UK taxpayers by the Treasury, according to recent data published by HM Revenue and Customs. The statistics, released in late August, show that £2.1 billion was collected by the government...
Stepping up from the ranks to become a full partner in a limited liability partnership (LLP) involves a fundamental change in status from employment to self-employment. The tax consequences of that shift came under analysis in an important Upper Tribunal...
Any inaccuracy when filling in your tax return can have severe consequences, so it really does make sense to seek professional assistance. The point was powerfully made by the case of a financier who narrowly escaped a stiff financial penalty after failing...
The government is currently reviewing responses to its public consultation on helping taxpayers get their offshore tax right before it progresses to drafting new legislation on the issue. The consultation, which closed on 15 June, focused on how HM...
The tax regime is subject to constant change and it is generally up to taxpayers to keep their knowledge up to date in a fluid landscape. However, as a case concerning tax charged on high-income recipients of Child Benefit showed , HM Revenue and Customs...
Professional tax advice, however carefully considered, cannot always be correct, but you are generally entitled to rely on it. A tribunal made that point in relieving a retired executive of a tax bill that would have had a devastating impact on his...
Trusts are delicate and often complex legal instruments and any flaws in the wording of documents relating to them can have grave tax and other consequences. As a High Court case showed , however, inadvertent drafting errors can be corrected. The case...
The vexed distinction between employees and independent contractors is a constant source of dispute, not least in the realm of tax. Each case has to be decided on its own unique facts and, in one case, the Upper Tribunal (UT) ruled that a radio presenter...
