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Tax Take Blog

Articles: 1-10 of 429

Atherley - qualifying loan write off created an allowable loss

United Kingdom - October 8 2018 In Douglas Atherley v HMRC [2018] UKFTT 0408 (TC), the First-tier Tribunal (FTT) has held that the partial writing off of a loan made by the taxpayer…

HMRC updates its guidance on VCTs

United Kingdom - October 3 2018 HMRC has updated the guidance in its Venture Capital Schemes Manual on venture capital trusts (VCTs) to reflect changes made by Finance Act 2018. The…

HMRC publishes Spotlight 45 on umbrella company avoidance schemes

United Kingdom - October 3 2018 On 23 August 2018, HMRC published Spotlight 45 in which they provide guidance on what taxpayers should do if an agency or umbrella company offers to…

Call for evidence on HMRC powers

United Kingdom - October 3 2018 The House of Lords Economic Affairs Finance Bill Sub-committee has invited written contributions for its inquiry on the draft Finance Bill 2018. The…

Newton - Tribunal confirms that "statutory records" should be narrowly construed

United Kingdom - October 1 2018 In Newton v HMRC [2018] UKFTT 513 (TC), the First-tier Tribunal (FTT) has held that the phrase "statutory records", for the purpose of an information…

SiBCAS - supply of temporary school accommodation not VAT exempt

United Kingdom - September 26 2018 In SiBCAS Ltd v HMRC [2018] CSIH 9 XA81/17, the Court of Session has held that the provision of temporary school accommodation is subject to VAT. In…

ECON committee amends Commission’s proposal for simplification of VAT for SMEs

European Union - September 26 2018 The EU Parliament's economic and monetary affairs (ECON) committee has provided amendments to the Commission's proposal for simplification of VAT for…

K D Media Publishing - No set-off of credit for overpaid VAT against VAT already paid in periods before discovery of overpayment

United Kingdom - September 26 2018 In K D Media Publishing Ltd v HMRC [2018] UKFTT 0494 (TC), the First-tier Tribunal (FTT) has held that a taxpayer who was entitled, under section 80…

Done Brothers - supplies through fixed odds betting terminals exempt from VAT

United Kingdom - September 26 2018 In Done Brothers (Cash Betting) Ltd v HMRC [2018] UKFTT 406 (TC), the First-tier Tribunal (FTT) has held that supplies made through fixed odds betting…

Revenue and Customs Brief 6 (2018): VAT exemption for all domestic service charges

United Kingdom - September 26 2018 On 7 September 2018, HMRC published Revenue and Customs Brief 6 (2018), which explains when Extra Statutory Concession 3.18 VAT exemption for all…