HMRC Wants to Spot-Check Business Revenue has launched consultation to review its powers, concern at inconsistency of powers inherited from legacy organisations, wants greater provision for surprise calls on business 18.05.07 Financial Times, Company Tax
Road Tax to Double Tax on 'least fuel efficient' cars, including 4x4s and sports cars, is likely to double over next two years, to £400Times Tax breaks for green homes, encouragement to use solar panels to sell electricity back into gird 19.03.07 Guardian, Budget 2007, Environment Law
New Rules for MSCs In December 2006 and February 2007 the govt published details of a new regime whereby all payments received by in respect of services provided through a managed services company (MSC) would be treated as employment income subject to PAYE and NIC 11.04.07 Michael Simkins, Employment Law
New Venture Investment Rules As part of his 2007 Budget, chancellor announced new qualifying company rules for the Enterprise Investment Scheme (EIS), the Corporate Venturing Scheme (CVS) and the Venture Capital Trust (VCT) scheme, new rules will affect companies attracting investment 24.03.07 Michael Simkins, Budget 2007, Capital Markets, Entertainment Law
Tax on Occupational Pensions The Revenue has published revised guidance on the test for determining whether employer contributions to occupational pension schemes are tax deductible, guidance is in the Business Income Manual 03.03.07 Law Now, Employment Law, Pensions
EU Dividend Withholding Tax ECJ has given its decision in Denkavit (C170/05), case concerned French law, which levied a withholding tax on dividends paid by a French company to its Dutch parent but not on dividends paid to a French parent, was in breach of EU law 17.12.06 Law Now, Company Tax, EU Tax
VAT on Football Agent Fees Newcastle United faces a substantial tax bill for player transfers and contract renewals following Newcastle United plc v Commissioners for HMRC [2006] UKVAT V19718, tribunal dismissed club's appeal, finding that VAT paid by the Club when paying agents' fees was not recoverable 14.12.06 Michael Simkins, Sports Law, VAT
Simpler System for Company Tax HMRC publication, 'Delivering a new relationship with business', details a package of reforms designed to allow businesses to settle their tax affairs sooner, reduce burden of forms and inspections and to develop a single customer record 30.11.06 HM Revenue & Customs, Business Regulation, Company Tax
Varney Report Promises Simpler Tax Rules Chancellor said today he will implement in full recommendations of the Review of Links with Large Business, led by Sir David Varney, recommends HMRC provides big businesses with increased and quicker assurance on the tax treatment of their activities, risk-based audit approach 17.11.06 HMRC Press Release, Business Regulation, Company Tax
VAT on Credit Handling Services HMRC has revised policy on the VAT liability of credit and debit card handling services supplied by agents, following the end of litigation in the cases of Bookit Ltd (Bookit) and Scottish Exhibition Centre Ltd (SEC) 03.11.06 HMRC Business Brief, Consumer Credit, VAT
VAT Business Brief 17/06 HMRC Business Brief, VAT partial exemption for bookmakers, recovery of VAT on specialist televisions, VAT on disposable barbecues, changes to the Registered Dealers in Controlled Oils (RDCO) Scheme: inclusion of Aviation Turbine Fuel (AVTUR), extension of the lower rate of Air Passenger Duty (APD) 20.10.06 HM Revenue & Customs, Aviation, VAT
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No Double IHT Allowance Court has ruled in favour of Revenue on discretionary trusts, case against Stephanie Phizackerley, housewife who does not work has no ownership in family home and cannot pass share into trust through her will, only working husband can claim tax-free inheritance tax allowance 19.04.07 Times, Inheritance Tax, UK Tax Avoidance Schemes, Wills and Probate
Depreciation on Unsold Stock In Revenue v William Grant, Lords have ruled that stock can be treated as cost in profit and loss account, and asset in balance sheet, profits should be calculated on current best practice, not on fundamental principles 03.04.07 Times, Company Tax
Paying VAT for Lap-Dancing High Ct is to decide on appeal by Spearmint Rhino from tribunal, who should pay VAT on fees for striptease, dancers are self-employed, receive the cash from clients and pay club for use of facilities 23.03.07 BBC, Employment Law, VAT
Camp Workers Win Rebate Up to 10k people who have worked at Butlins and Haven holiday camps are due compensation for money deducted for electricity, Appeal Ct found deductions resulted in workers not receiving the minimum wage 19.02.07 BBC, Employment Law
Tax and Sympathy, No Refund Revenue admit ex-Matalan CEO Angus Monro overpaid nearly £1m, Chancellor Sir Andrew Morritt expressed 'profound sympathy', but refused refund, tax paid on stock options was 'mistake in law' but in accord with 'prevailing practice' of the time 02.02.07 Times, Income Tax, Stock Options
Sisters Are Not a Couple Joyce and Sybil Burden have lived together in same house for 40 years, but will not be entitled to inheritance tax (IHT) exemptions enjoyed by married couples and civil partners 13.12.06 Daily Mail, Inheritance Tax
ECJ Rules on Tax on Dividends European court has ruled for BAT and other multinationals on treatment of Advanced Corporation Tax (ACT) - abolished by Brown in 1997 - in respect of dividends paid across EU state borders 13.12.06 Financial Times, Company Tax, EU Tax
