-
HMRC Tackling Fraud – an Update
At a time when there has never been a greater focus on “morally repugnant” tax planning, we thought it might be interesting to see how well HMRC have done in the last year, collecting our taxes and tackling fraud. The following statement is reproduced from Parliament’s website and was made by The Rt Hon Margaret…
-
Why My Tax Return is Late…
There are may legitimate reasons why you may struggle to submit your tax return before the 31 January deadline, but don’t expect much sympathy from HMRC who have recently published a list of the ‘Top 10 oddest excuses’ for sending in a tax return late and incurring the £100 late filing penalty. Perhaps the most…
-
VAT Windfall for Golf Clubs
Member-owned golf clubs in the UK could be in line for a considerable windfall after the European Court of Justice ruled that their visitor green fees are not liable to VAT. Bridport and West Dorset Golf Club, brought a case some time ago against HM Revenue and Customs, arguing that, since they were not-for-profit organisations,…
-
Retailers lose VAT case relating to fraudulent transactions
In a judgement that could have an impact on most retailers, Dixons Retail plc has lost its case before the European Court of Justice. The Court has ruled that where a customer fraudulently uses a bank card to obtain goods from a retailer and the retailer receives payment of the price through the card system,…
-
HMRC “Big Brother” really is watching you!
The lengths that HMRC will go to in its quest to catch-out tax evaders seemingly knows no bounds with the disclosure that Inland Revenue Inspectors are embracing technology with the phrase “desktop review” taking on a new meaning. It has been revealed that HMRC officers are increasingly using Google’s Street View application as a monitoring…
-
Autumn Statement 2013
In a surprise move the Chancellor moved his autumn statement from the usual Wednesday to a Thursday. Starting with a note of caution on the economy, he was quick to highlight some of the recent successes such as falling unemployment and positive revisions to growth forecasts. Once again the Chancellor re-emphasised his commitment to tackling…
-
Deduction for loans against Inheritance Tax
Debts of a person’s estate are generally deductible for Inheritance Tax (IHT) purposes, although there are some circumstances where specific debts cannot be deducted such as where the deceased had previously made a gift to the person who made the loan. Following this year’s Finance Act, which became law this summer, there are several changes…
-
Discounted Business Rates Avaialable
On 1st November 2013 Nuneaton and Bedworth Borough Council launched a new policy to award discounts on business rates in certain circumstances with a saving of up to £130,000 over 3 years. The overall aim is to increase income for businesses and create jobs for local people by encouraging more businesses to relocate or expand…
-
Racing Tipster barred by bookmakers wins VAT Tribunal
A man who gave such successful racing tips he claims that he was barred by bookies, has won a VAT tribunal where he proved that £85,000 was receipts from winnings rather than income earned from making a supply. Jeff Laughton set up a network of around 40 people through his company who placed bets using…