HM Revenue and Customs (HMRC) are certainly not infallible but, faced by such big battalions, small taxpayers are often filled with a sense of helplessness. As a case concerning a nail bar showed, however, professional advisers are more than capable of proving that the tax
Unforeseen tax implications can turn what appears to be a good deal into a bad one, and that is why it is always wise to take expert advice before signing on the dotted line. The point was made by a case concerning Capital Gains Tax
Many large country houses are equipped with stables and other leisure facilities, but if their use is more than merely domestic there could be potential tax consequences. Just that issue arose in a case concerning international-standard equestrian facilities built by a leading dressage rider in
To what extent are the tax authorities entitled to delve into what would otherwise be your private financial information? The High Court tackled that issue in authorising disclosure of a wealthy businessman’s credit card statements to HM Revenue and Customs (HMRC) as part of a
Financial penalties in respect of inaccurate tax returns can be swingeing but, like any other fine, they can only be imposed on wrongdoers. The point was made by a case in which an accountant was relieved of a substantial penalty on the basis that he
The distinction between individuals and the namesake businesses that they found can be a very fine one. However, as an entrepreneurial orthopaedic surgeon discovered, it can be absolutely crucial from a tax point of view. The internationally renowned doctor sold the medical practice that bore
Non-British residents are generally only liable to Income Tax on sums earned within the UK. However, as a decision of the First-tier Tribunal (FTT) showed, special rules apply to those who are engaged in the offshore oil industry, even if they work outside UK territorial waters.
In an encouraging case for the agricultural industry, a determined organic farmer has been granted the right to set off more than £1.4 million in losses, suffered over a five-year period, against tax due on profits he made in subsequent years. With the help of
The distinction between an extension and an annexe is a fine one but, for charities, it can have crucial tax implications. The First-tier Tribunal (FTT) considered the issue in granting VAT exemption in respect of the construction of a new church hall. There was no
Tax is territorial and is only payable on income generated by a source within the UK. As a Court of Appeal ruling in a foreign loan case showed, however, a hinterland of legal complexity resides within that apparently simple statement. The case concerned a construction
