This is an appeal on a complex Stamp Duty Land Tax (SDLT) avoidance scheme involving annuities. A property valued at £765,00 was purchased for a cash price of £38,250 and a promise to pay an annuity of £383 per year.…
Category: HMRC
Can we have our Agents phone line back please
It’s fair to say that one of HMRC’s most effective innovations over the years has been the Agents Dedicated Line (ADL). It was brought in to recognise that agents were of value and contributed so much to making sure the…
Does HMRC strike the right balance?
How is HMRC faring in its mission to strike the right balance between its powers and taxpayer safeguards? Robin Williamson reports. In evaluating the implementation of powers and safeguards introduced since 2012, HMRC has undertaken to abide by 21 commitments…
HMRC Reports descend to the level of Corporate Vanity
HMRC’s Annual Report and Accounts for 2019/20 have just been published so of course I downloaded and took a look. The publication comes in at a stonking 333 pages and, believe me, it was most certainly not produced by the…
Taxpayer Safeguards & the Rule of Law: An important book
When ‘Taxpayer Safeguards and the Rule of Law’ by Robin Williamson was chosen as the ICPA book of the month by Ray Chidell of Claritax Books. I knew that this was one book I simply had to read, writes Tony…
CGT and the OTS what’s on their minds
Andrew Hubbard highlights three areas of capital gains tax that might be in the OTS’ sights when it carries out its imminent review. The publication of the Office of Tax Simplification’s call for evidence on possible changes to capital gains…
The Tax Gap explained and exposed
Estimates of the tax gap need to be improved, says Prem Sikka. Here he explains why. Between April and June the UK economy shrank by 20.4% compared with the first three months of the year and is officially in recession.…
The Taxpayers Charter short and not sweet
The Taxpayers Charter has undergone numerous changes over the years and HMRC are proposing another revision with the consultation having closed on 15 August. Over the years the Charter has morphed from a Taxpayers Charter to Your Charter to the…
MTD: the good, bad and ugly
Ian Vickers reflects on how the implementation of MTD in 2019 affected both his business and the wider accounting industry. My team, as I have previously written, talks to hundreds of accountants as part of our software development and marketing…
HMRC and PPR : Castles under siege?
In part two of this article, Neil Tipping examines HMRC’s vigorous approach to Private Residence Relief claims Selling the land after selling property A common issue relates to where you want to keep hold of part of a large garden…