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Results: 1-10 of 48

HM Revenue & Customs (HMRC) enquiry windowslimitation periods

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • April 29 2010

From 1 April 2010, changes introduced by Schedule 39 Finance Act 2008 will take effect and reduce the period within which HMRC can bring an assessment to four years from the end of the accounting period in the case of innocent errors, six years for careless errors and 20 years for deliberate mistakes

HMRC v Philips Electronics UK Limited

  • Herbert Smith Freehills LLP
  • -
  • European Union, United Kingdom
  • -
  • September 7 2012

On 6 September 2012 the CJEU delivered a clear ruling in favour of Philips, confirming that the UK provisions which prevent losses of UK branches of non-UK resident companies from being surrendered for group relief (section 107 CTA 2010 condition C, formerly section 403D(1)(c) ICTA 1988) constitute an unjustified restriction of the freedom of establishment under EU law

"Extreme shopping": HMRC legislation to counter treaty shopping: thoroughly draconian

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • August 5 2011

On 1 August, just before the summer break, HM Revenue & Customs (HMRC) published a "Technical Note" and draft legislation (together, the "Note") entitled "Tax Treaties Anti-avoidance"

Denial of input VAT deduction for failure to identify a connection with VAT fraud Court of Appeal in Mobilx rejects HMRC test of knowledge but requires traders to consider the circumstances of each trade or transaction

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • October 18 2010

It was reported on 7 September 2010 that HMRC have identified the first cases of attempted VAT fraud in the wholesale gas and power markets

HMRC’s approach to settling enquiries and disputes: a positive shift in emphasis

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • July 27 2011

HMRC has published a replacement Litigation and Settlement Strategy (“LSS”) as part of a major review of its approach to disputes

Securing a tax deduction for the costs of defending a criminal prosecution

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • February 10 2012

The costs of defending a criminal prosecution are capable of being deducted in computing profits of a trade following the House of Lords decision in McKnight v Sheppard but a recent First Tier Tribunal decision in Mr A Raynor (deceased) and Mrs B C Raynor and The Commissioners for Her Majesty's Revenue and Customs (Income Tax) has departed from that decision, by making a contrary determination of the facts

HMRC wins appeal in penalties for late VAT payments

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • January 10 2013

In accordance with the highly prescriptive provisions in the VAT legislation, a company may be in default of a liability to pay VAT if HMRC does not

UK SDRT charge on an issue of ADRs in respect of shares in a UK company breaches EU law

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • April 3 2012

The recent First tier Tribunal decision in HSBC Holdings and Bank of New York Mellon Corporation v The Commissioners for HMRC contains good news for companies located in Europe seeking to raise capital

UK Uncut Legal Action Ltd v HMRC (Goldman Sachs International and Goldman Sachs Services Ltd, interested parties)

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • May 28 2013

This case relates to an administrative law challenge, by a member of the public, to a proposed compromise between HMRC and taxpayers (Goldman Sachs

Government procurement rules: tax compliance is a factor to be considered

  • Herbert Smith Freehills LLP
  • -
  • United Kingdom
  • -
  • February 19 2013

The proposed rules require: Suppliers seeking to secure a government contract to self-certify during the selection stage of the procurement process