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Future Intention Leads to Tax Charge

The additional rate of Stamp Duty Land Tax (SDLT) is payable on purchases of 'additional dwellings' such as buy-to-let properties. A recent case dealt with the SDLT implications of the 2015 purchase of a house which the purchaser (a company) intended to...

The Taxation of Termination Payments

The rules governing the taxation of termination payments have been tightened with effect from 6 April 2018 by means of legislation to amend Chapter 3, Part 6 of the Income Tax (Earnings and Pensions) Act 2003 . Hitherto, where the employee's contract of...

Guesswork Not Enough to Create Tax Liability

When HM Revenue and Customs (HMRC) suspect serious tax evasion, they will normally launch a full-scale tax investigation into the person they suspect. They use many tools in such investigations and one of the more common ones is to compare the cost of a...

HMRC Reliance on Guidance Not Justified

The various VAT 'flat-rate' schemes were originally set up with the ostensible purpose of simplifying the VAT process for those using them, while being essentially revenue neutral for HM Revenue and Customs (HMRC). A recent case dealt with a situation in...

Son's Casual Employment Proves Expensive for Dad

One area in which problems may not be anticipated is when a family member's status as a 'genuine' employee is disputed by HM Revenue and Customs (HMRC). For any expenditure to be deductible for tax purposes, it must be 'wholly and exclusively' made for...

Seeking to Waive Dividends?

For a person who has no need of the income from a family company, a dividend waiver, which allows other shareholders to receive dividends but not the person who has executed the waiver, can be a useful device. However, the use of dividend waivers can...

I'll Scratch Your Back and You Scratch Mine

HM Revenue and Customs (HMRC) have recently carried out research on the 'sharing economy' – by which people share skills, resources, time or property with one another without cash changing hands. There are a number of websites that facilitate such...

Insufficiency of Funds - Deals Mean Loss of Control

Failing to pay taxes due because of insufficiency of funds with which to do so has repeatedly been challenged by HM Revenue and Customs (HMRC) when a defaulting taxpayer has sought to claim it is a 'reasonable excuse' for non-payment. Where such an excuse...

Get it Right First Time or Face Tax Consequences

When managing taxes, there can be few errors as expensive as failing to register for VAT if you should have done so, as a recent case shows. One area of potential confusion is when there is an agency involved which arranges for someone to provide services or...

What Has Queen's Club Got That Others Don't?

In an interesting VAT case, the well-known tennis club Queen's Club has been successful in a claim for recovery of the VAT it incurred on revamping its restaurant and bar facilities. The club gives access to tennis, squash, real tennis and rackets for its...
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